How does blockchain wipe out traditional burdens?[Source: akachain.io]
Blockchain has empowered the commercial real estate ecosystem with transparent transactions.
With the rise of industries, franchises, and the emergence of technologies, real estate, like all industries, has undergone critical changes. However, the real estate business seems rather slow to keep up with the general speed of IT development. Due to the high-value physical property and sophisticated process of each transaction, the transformation of real estate faces more hassles.
There are four main classes of commercial real estate including office space, industrial, multi-family rentals, and retail. Commercial real estate (CRE) is a property that is used only for business purposes or to offer a workspace. Commercial real estate is frequently leased to tenants for the purpose of implementing income-generating functions. This category of real estate ranges from a single storefront to a massive shopping mall.