A Blockchain is referred to as a rapidly increasing list of chronological & lineal records known as “blocks”, which are connected and secured through the use of cryptography. In a typical Blockchain, dedicated blocks are used to store transaction data, timestamps and other items such as a hash pointer as a link to a previous block, a timestamp and transaction data, thus creating the Blockchain.
Blockchains are highly secure by nature and design and referred to as immutable, meaning they cannot be changed or does not change over time. As such, Blockchains are perfect to record private and secure items such as medical records, transaction processing, identity management, food traceability and documenting other processes requiring advanced security. As such, Blockchain technology has the greatest potential towards transforming the property marketing process to ensure properties marketed are true, accurate and belong to the correct advertiser.
Watch this informative TED Talk video to see their view of how Blockchain is expected to alter the course of intermediaries.