One of the keys to the adoption of blockchain for real estate is to demonstrate the cost savings and reduction of risk. As larger companies start to adopt the technology Ragnar believes the rest will follow. Chicago’s Cook County is currently running a pilot program with velox.RE for transferring and tracking property titles as well as filing liens. The press release of this announcement outlined three reasons why blockchain technology is appealing:

Olivier Selles of Bouygues Immobilier spoke of other applications of blockchain. One example he gave was tracking information related to solar panels on buildings. Since most people find it difficult to perceive the value of solar panels, the blockchain can help certify the production and also help in tracking electricity as a currency.

来自Bouygues Immobilie的Olivier Selles提及了区块链之于其他领域的应用。他举的例子是区块链可检测建筑物内太阳能板相关信息。大多数人都难以理解太阳能电池板的价值，区块链技术可助保障生产，追踪作为货币的电力。

尽管实现广泛使用区块链技术或尚需时日，Ragnar指出，拥有不少公寓及房产的规模较大的公司可迈出第一步，使用区块链技术对其财产进行内部监看。velox.RE在其网站上邀请拥有5套及其以上房产的人试用其平台。

Another topic brought up was the application to emerging markets. Oftentimes we read about how blockchain could help these markets and how the emerging markets may be the early adopters of blockchain technology, but there are challenges as well. The blockchain is a distributed system that is verifiable, but in the developing world it’s actually much harder to get started. Some countries have corrupt governments and the government is needed to prove the initial ownership of property. Ragnar said that in these circumstances you have no choice but to work with the local governments, but property owners could also begin to use the software even though it initially wouldn’t be legally binding. As property owners begin to adopt it, they can bring in the government to bridge this gap who may have no choice but to eventually participate.