Publication type: Conference paper
Type of review: Not specified
Title: Efficiency gains in the real estate market through the application of blockchain technology
Authors: Schnauss, Martin
Giannotta, Emanuelle
et. al: No
DOI: 10.15396/eres2021_121
Conference details: 27th Annual Conference of the European Real Estate Society (ERES), online, 2-5 June 2021
Issue Date: 2021
Language: English
Subjects: Blockchain; Complex adaptive system; New technology; Real estate market
Subject (DDC): 332: Financial economics
Abstract: The real estate market is undergoing a “major evolution and transformation” (Karamitsos et al. 2018, p.177). In only a few studies, however, the application of a complexity theoretical perspective has been investigated. Here we view the real estate market as a complex adaptive system. Complexity theory provides a framework that has the potential to bridge the gap between traditional “pure” science, which makes clear assumptions that are not necessarily based on reality, and the “applied” sciences, which focus on practical value (Thurner at al 2018). The blockchain reflects the core attributes of complex adaptive systems and thus appears to be a “natural fit” for complex adaptive systems applications (Zavolokina et al. 2018). Furthermore, given its size, the real estate market is relevant to everyday human life. These are all indicators that the interconnections among of complexity theory, blockchain, and the real estate market is worth investigating. Blockchain technology is expected, for example, to create opportunities to outsource services currently provided by incumbent middlemen in the market thereby increasing market efficiency.
Fulltext version: Published version
License (according to publishing contract): Licence according to publishing contract
Departement: School of Management and Law
Organisational Unit: Institute of Wealth & Asset Management (IWA)
Appears in collections:Publikationen School of Management and Law

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