The real estate sector is safer thanks to blockchain integration

The real estate sector is safer thanks to blockchain integration

The real estate sector has been transformed by technology and innovation, which has allowed many real estate companies to be pioneers in the implementation of technological tools to be at the forefront of the sector. The objective of companies is to digitalize the entire process to achieve the greatest savings in both costs and time and improve quality with the client and the investor. This means generating a new business model.

Many companies have implemented the BIM (Building Information Modeling) methodology to generate digital simulations of buildings, coordinating the information generated during a project. Thanks to its collaborative technique, it allows the developer to work together with architects, engineers, builders, etc. This makes it possible to improve the definition of construction systems, advance project decisions and detect possible interferences prior to the execution of the works.

The next step in the real estate sector is the integration of blockchain into BIM, which will allow complete traceability, authentication and certification of documents by the different actors in the promotion process: architects, construction companies, etc. The integration of BIM and blockchain focuses on certifying the documents and milestones related to the promotion process by the different actors and being able to follow the development of the work through these milestones such as the construction license, etc. Blockchain provides a guarantee of trust to both the client and the investor since they can know with complete certainty the moment and version of the document that is certified. The validation of documents by the responsible technicians and the certification of data in the blockchain block chain allow the project data and the different versions that have been registered to be verified, with the certainty that they remain immutable.

Metrovacesa has been the first developer in Spain to integrate this tool and also plans to apply this technological integration to validate and register evidence in blockchain for the energy certification of each of the projects. The firm Grant Thornton has been the technological consultant for the development of the project and the Alastria network is used, one of the largest public-permitted and multi-sector blockchain consortiums in the world, made up of more than 500 partners of all types of sizes and sectors.

 

 

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