Applying Blockchain in Real Estate

Applications of blockchain technology are growing daily, but is it the next technology for conveying title to real property or recording real estate deeds? Cook County in Illinois is certainly interested in finding out. The Cook County Recorder of Deeds completed a Pilot Program and worked over the last few months to understand how blockchain could be used to convey title to property and register Illinois land records.

Hogan Lovells advised the International Blockchain Real Estate Association (IBREA), one of the leading organizations for those interested in applying blockchain to real estate, as a participant in this Pilot Program. The Hogan Lovells team was led by New York-based partner, Lewis Cohen, who specializes in the use of blockchain and distributed ledger technology in complex financial, real estate, and other transactions.

"This was a great forward-looking exercise, where the Cook County examined the pros and cons of blockchain technology for the conveying title and recording of transfers of real property. The group considered how it could be implemented and concluded that blockchain will likely play a critical role in the real estate space. We are delighted to see more and more different groups adopt novel applications for blockchain technology!” Lewis Cohen says.

The full report can be read here

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