Powerful player in tech-Michael Arrington-has recently increased that probability.
As MyDigitalStartup reports:
"TechCrunch founder Michael Arrington remotely purchased a $60,000 apartment in Kiev, settled via smart contracts and in Ethereum cryptocurrency and PRO (Propy) tokens-making the first-ever ... real asset transfer via blockchain ..."
Essentially "blockchain" is an umbrella term for a breakthrough approach to the distributed database.
A major benefit is that it eliminates the "middleman" in transactions. That lowers cost and increases speed.
The smart contract application makes it unnecessary to hire an individual lawyer for many typical transactions. Such a capability cannot only reduce demand for brick & mortar lawyers but also the online kind such as those at LegalZoom.
Because the blockchain links make it almost impossible to alter content, there is a new kind of digital security. (Revisions would require permission of the all the participants in the database). Trust is restored in this era of massive hacks such as at Equifax and Deloitte.
The blockchain also makes the traditional concept of red tape an anachronism.
Here is a horror story blockchain could have prevented. My former ecommerce coach-Paul Chaney-attempted to register his vehicle in a state the traditional way. Because of the layers of red tape, he still hasn't completed that transaction.
In the future, if he tapped into blockchain, he wouldn't be sharing the nightmare on Facebook. He heads content at Bizzuka.
A user-friendly introduction to blockchain is Tiana Laurence's "Blockchain for dummies." Published in May 2017, it provides not only an overview but a how-to for getting in the game.
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