Bold statement, well yeah, it’s me after all.

So this blockchain thing it’s all over the place, and there is so much hype and hyperbole.

Once you get past all of that BS, you get the nerds who want to sit and talk about forks being forks and other forks that won’t be forks. Don’t understand that? That’s ok; you don’t need to.

It’s nerds trying to prove they are smarter than everyone else and banging and hating on anything that does not fit their version of what they think the blockchain Bitcoin world should be.

Oh, yea, there’s that word, Bitcoin. You can look it up, but it’s not what we in commercial real estate are concerned about. Not now anyway. It’s the blockchain protocol. Let me explain in simple terms why we in real estate can and will use it. I said simple terms, not nerdy terms.

We can and will use it to verify data between collaborating people and or companies for commercial real estate. It’s that simple. Oh, and the data cannot be hacked. Of course not?

Now the nerds are going to climb all over the last two statements and who cares. They want to make it as complicated as possible.

What you and I are concerned with is this.

Does it make the pieces and workflow of commercial real estate more efficient
Answer: Yes.

Does it make the verification of data (as in property) data simple and efficient?
Answer: Yes.

Does it make the transaction of commercial real estate more transparent and efficient?
Answer: Yes.

Does it allow us to share data and at the same time keep proprietary data and make it more transparent and efficient?
Answer: Yes.

Will it take out the brokers?
Answer: No (Ha, got ya there)

Will it possibly create more value for every structure on the planet?
Answer: Yes.

Bottom line, will it help all of commercial real estate in a positive way?
Answer: Yes

Now that’s some pretty bold stuff. Yes, it’s broad and general.

What do we need the nerds for again? Do we still call them nerds? They probably prefer technologists and futurists or bitcoinist. I just made that up, but I bet somebodies is already using that and if not they are stealing it right now. You may get volumes and volumes of content about blockchain and bitcoin for real estate thrown your way. If you are all nerdy and like that kind of fluff please by all means indulge. If not don’t worry you are not missing a thing.

We are (yes as in commercial real estate tech people) working on all of these things for commercial real estate. I said all of commercial real estate.

Now, let me caution you right here. There is so much bullshit yet to come from the tech and blockchain world, and they are going to bring that same bullshit right to you commercial real estate front door. I’m not suggesting that it’s all hype. It’s not.

But be wary of the pitch that says. “We know what we are doing just use it. We got this.” Or the “you don’t need to understand what it is to make it work” pitch.

When that nerd sits in front of you, he’s trying to convince you he is smarter. He’s not. He just thinks he may have something you will pay him for. He doesn’t.

We as in all of commercial real estate will. We know what commercial real estate is. How it works. How it functions and how it is transacted. That nerd sure as hell does not.

There is so far yet to go.

Pay attention, watch, listen.

I said this is the only blockchain and real estate article you will ever need to read.

So, get back to work and go do some deals! You and I, we got this.

Duke Long

Duke LongDuke Long is a twenty-year veteran of commercial real estate. He is the broker/owner of The Duke Long Agency. He is also known for writing his strong opinions about all things CRE at www.dukelong.com. He has delivered numerous presentations and discussions about online CRE tech, marketing, data, and digital media. Indiana University allowed him to study real estate and the United States Air Force discharged him honorably.