Smart Contracts in Real Estate: Cutting Bureaucracy, Building Greener Housing
The Bottleneck in Real Estate Buying or selling property in the United States is often slow and complex. According to the National Association of Realtors (NAR), the average real estate transaction takes 30–60 days to close. With paperwork, middlemen, and red tape, the process becomes costly and inefficient. Beyond delays, traditional systems also limit how quickly funds can flow into sustainable housing projects. If America is to meet its net-zero emissions targets by 2050, it needs a faster, more transparent way to build and finance greener communities. Enter Smart Contracts Smart contracts are blockchain-based agreements that automatically execute once conditions are met. In real estate, they eliminate the need for stacks of paperwork, lawyers, and third-party approvals. Here’s what this means for U.S. housing: Speed : Property deals that once took weeks can now close in 60 seconds land transactions . Cost savings : Fewer intermediaries reduce expenses for both buyers and de...