From industrialists to ordinary people, most would agree that technology makes their lives significantly better. When a recent Pew Research Center survey asked Americans what had brought the biggest improvement to their lives in the past five decades, 42% credited technology and technological advancements. Only 14% mentioned healthcare, 10% mentioned civil and equal rights, and 8% credited the economy. On top of that, 22% of Americans believe that technology will bring the biggest improvement to life in the next 50 years.
Still, things in the tech world move fast and keeping up-to-date with all the latest trends can be quite tricky. However, Jessica Stocker points out that those who are on the constant lookout for new opportunities to make money can use these trends to jump on the early train to success. “I believe that success can’t be achieved without exiting one’s personal comfort zone. If you want to succeed at anything, you need to challenge yourself every day, learn new things, and keep up with the trends,” she says.
Jessica Stocker is a highly successful real estate agent who recently started to take an interest in the emerging real estate markets of the Metaverse’s virtual worlds. Before venturing into the Metaverse, Stocker worked in real estate for three years as a part of a prestigious Beverly Hills real estate team. She explains the blockchain technology behind the real estate markets in Metaverse provides a revolutionary concept that could be a major catalyst for transforming commercial real estate. “Even though real estate is a lucrative industry, it is facing unique challenges that blockchain technology could potentially solve,” says Stocker.
For her, one of the main problems that blockchain technology could solve is the security concerns of hard copy property deeds. Stocker says that hard copy deeds are vulnerable to theft, forgery, and manipulation, which can be a real headache for property owners. Stocker further points out that this is where blockchain technology could help the industry because of its innate encryption and security benefits. “If you lose your property deed or it gets stolen, you are losing the ownership of said property,” she says. “Furthermore, hard copies allow scammers to create fake deeds, which they can use to trick people into buying properties that they don’t own. Cryptography, decentralization, and consensus are the underlying principles of blockchain technology. That is its strength. It ensures the fidelity and security of a data record and generates trust without the involvement of a third party.”
Stocker also mentions that the next place where blockchain technology could prove beneficial to real estate is by automating the transactions. She explains that, currently, the transaction of buying and selling the property must go through a legal process that, in the best case, can take several months to complete or, in some extreme cases, even longer. For example, blockchain databases could allow for the creation of smart contracts that would smooth out and hasten this process.
“Technological advancements in the field of blockchain are so exciting because they can make our lives in the real estate industry so much easier,” says Jessica Stocker. “I hope that these changes come sooner than later, but nevertheless, I’m glad to be a part of a better and brighter future in the real estate industry.”
