Blockchain : A new technology that will transform the real estate market
Sammanfattning: The overall market is in front of a new technological change, where blockchain is the most probable technology that will be implemented. There are several markets that need a technology that bring more efficiency, safety and transparency into the market, for instance the real estate market. The real estate market is highly important to the overall economy due to its size and devastating consequences if it collapses. A real estate crisis often affect and creates financial crises which in turn could lead to economic meltdowns both on a micro- but also on a macrolevel. There are inefficiencies within the real estate market that might cause the crises, such as problems with transparency and illiquidity, high transaction costs, personal biases and slow transaction processes. This master thesis examines the potential of an implementation of blockchain technology on the real estate market and how it might affect the inefficiencies within the market. Blockchain is a new and emerging information technology with several markets and areas suitable for an implementation. Earlier researches on the topic are generally focusing on the technology itself or its implication impacts in the financial sector. This master thesis aims to examine the implications to implement blockchain technology on the real estate market and how an implementation would impact the market. To be able to answer the research questions formulated in the thesis, an extensive literature study has been conducted, and additionally, semi-structured interviews as well as a questionnaire have been performed. The research is primarily contributing with an improved knowledge about blockchain technology and its potentials and challenges on the real estate market. One conclusion from the study is that the technology is most likely capable in changing the real estate market fundamentally, which is why the topic needs to be investigated deeper and to develop the technology further for a successful implementation.
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