IDEAS home Printed from https://ideas.repec.org/h/spr/sprchp/978-981-99-8533-3_14.html
   My bibliography  Save this book chapter

International (Lack of) Harmonization in Legislation for Blockchain Application in Cross-Border Real Estate Processes

In: Blockchain in Real Estate

Author

Listed:
  • Tuti Haryati Jasimin

    (Razak Faculty of Technology and Informatics, Universiti Teknologi Malaysia Kuala Lumpur)

Abstract

Real estate industry is frequently cited as an example of a sector that can profit from the usefulness of blockchain applications. According to the general theory, blockchain could theoretically address the major problems the real estate industry is now experiencing, including lack of transparency, inefficiencies, fraud and corruption, excessive costs, and also trust concerns. Many people are concerned that legal restrictions would prohibit widespread blockchain adoption in the real estate business, despite the fact that blockchain technology has the ability to significantly lower the costs of real estate transaction, remove investment obstacles, and boost real estate liquidity. Given the potential opportunities of blockchain in real estate (for example, verifying transactions and verifying other encumbrances), the concern is whether blockchain is yet adequately set up to accomplish the responsibilities of real estate agents, legal professionals, and other parties that are pertinent, guaranteeing a secure real estate transaction. This article offers a useful overview of the legal framework for blockchain applications in international real estate transactions. This article also discusses various legal issues that arise from blockchain applications, with an emphasis on the smart contract challenges that bring about the application of the law of contract and the potential for blockchain to disrupt the real estate sector.

Suggested Citation

  • Tuti Haryati Jasimin, 2024. "International (Lack of) Harmonization in Legislation for Blockchain Application in Cross-Border Real Estate Processes," Springer Books, in: Ammar Jreisat & Mehdi Mili (ed.), Blockchain in Real Estate, pages 273-294, Springer.
    • Handle: RePEc:spr:sprchp:978-981-99-8533-3_14
    DOI: 10.1007/978-981-99-8533-3_14
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:sprchp:978-981-99-8533-3_14. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.