Can blockchain improve Montagu Evans' work?
Blockchain technology has revolutionized many sectors of the global economy. Property consultancy Montagu Evans believes it could do the same in its industry.
In decentralized finance (DeFi), the technology has played an invaluable role in facilitating cross-border payments through the use of cryptocurrencies. Aside from this, blockchain has entered the world of gaming and led to the creation of the Metaverse as well as non-fungible tokens (NFTs).
In addition to the aforementioned industries, blockchain has also impacted supply chain management positively. More importantly, due to the complex nature of tracking properties and the amount of paperwork involved, many stakeholders have shed light on the potential of this technology in the property management and real estate industries.
One of them is the property consultancy firm Montagu Evans, which released a paper about the possibilities of the technology in the real estate sector a few years ago.
Montagu Evans believes blockchain can improve property management
According to the independent property consultancy firm, a section of this growing innovation called distributed ledger technology (DLT) can offer new ways to assure the provenance and ownership of goods and real estate.
While one of the many challenges to adoption has been the difficulty of industry experts being open to change, it can improve transparency in transactions related to real estate due to its secure and tamper-proof ledger.
Others have also seen the lack of technical expertise among stakeholders as a challenge since it needs to be successfully integrated and implemented.
Despite this, blockchain is linked to cost reduction, improved efficiency, and its reliance on smart contracts (an innovation that has created many opportunities in decentralized lending, insurance, exchange, and yield aggregation, among others).
Although the positives far and wide outweigh the negatives, we cannot pretend to overlook some of the cybersecurity issues, such as attacks and hacks, causing billions of dollars in losses for several companies.
Montagu Evans believes there are solutions to these problems
As a company whose experts help potential clients drive efficiency in the running of their properties while creating destinations that support economic, political, and societal demands, it believes education and comprehensive training programs can help interested parties overcome the lack of technical expertise.
As a company, it deals with sectors in the central government, healthcare, housing, industrial/logistics, living, local government, offices, town centres, and transport/infrastructure, among others.
This innovation, popularized by Satoshi Nakamoto through the creation of the most popular and largest digital asset by market capitalization, Bitcoin (BTC), can go a long way toward improving its fortunes.
With teams providing planning, advisory, commercial, and property management services in the UK, the positive attributes of a chain of blocks will be highly invaluable to managing most of the properties within the region.
Author: Raphael Minter
Raphael Minter/ Albert Zuhnden (preferred pen name) is a crypto finance writer, data miner, and fundamental analyst. Raphael has written hundreds of articles about centralized and decentralized financial instruments such as precious metals, commodities, stocks, and cryptocurrencies. He broke into digital finance in 2016 and believes digital assets and blockchain technology is the future of finance.