However, we are now active in the digital economy, where information is difficult to keep secret. Customers are demanding more transparency and the trend towards technologies such as blockchain, which enable "trustless" transactions through the use of digital identities and transparent records, continues to contract. It is clear that this will have an impact on many sectors, and not just on the industrial sector. One of the main advances in blockchain technology is the ability to decentralize a specific function (e.g.B. Banking) by streamlining complex legal requirements with a token. By holding the token, a user proves that he has a personal interest in the outcome of this function. The legal conditions surrounding this token allow the user to take certain measures without having to write and check the full legal conditions himself. Commercial leases include many parts, such as maintenance, tenants, owners, asset managers, asset owners and more. With a lot of money, it is constantly necessary to check the validity of the other`s data. The process described so far seems to concern mainly the operators of the CRE and their tenants.
However, the use of blockchain and the availability of information and smart contracts described in the article offer opportunities for further efficiencies and the automation of other transactions. One of the most obvious examples would be the link between the CRE`s banking facilities and smart contracts with tenants, which essentially guarantee monthly repayments on financing facilities and reduce risks for banks (allow CRs to negotiate better terms). Cryptocurrency itself (i.e. Bitcoin, Ether) cannot be separated from the blockchain, as the ability to transfer a unit of value is fundamental to the functioning of blockchain technology. Blockchain allows CRE operators to create digital identities for their real estate, which are then validated by other parties such as financial institutions and previous tenants. Each property has a digital ID that connects users to the right property information on the blockchain, providing easy access to data such as architectural plans, building permits, energy efficiency certifications, repair and maintenance records, ownership history, access rights, and other relevant details. . . .