You may not have heard the term “blockchain” technology, but you know the most famous example of it: the bitcoin.

Essentially, blockchain is an emerging technology in the form of a distributed digital ledger that transforms the way information is collected, stored and shared between parties with no central database to hack. Blockchain lives on a virtual network, not within a single organization and uses encryption with both private and public keys for access.

And Lisa Stanley, chief executive officer of OSCRE International says it’s time for the bitcoin of corporate real estate, in a new white paper written for CoreNet Global. OSCRE is a global body that seeks universal standards for data exchange in real estate. Her article is featured in this month’s THE LEADER magazine

Early applications of blockchain technology in our profession could include lease transactions transported directly from lessor to lessee, land transfers including change of title and recording of parcel ids, maintenance records on building systems and capital improvement investments.

“Standards implementation is a critical step to prepare for this new technology that will no doubt change the way business is conducted globally,” she writes. “The impact of this change could be much more than an industry disruptor – it has potential for foundational change as to how transactions in business are conducted.”

“This could be good news for the real estate industry which has not traditionally moved quickly to embrace change or technology. In this new world order built on blockchain, the traditional roles of bankers, lawyers and title companies as intermediaries could also change significantly, becoming marginalized if not eliminated.”


“The time is now for the industry to step up and step forward to demonstrate proactive leadership,” Stanley said.