Читать книгу Blockchain Data Analytics For Dummies - Michael G. Solomon - Страница 66

Financial services are interactions that involve some exchange of currency. The currency can be legal tender, also called fiat currency, or it can be cryptocurrency, such as Bitcoin or Ethereum’s default currency, ether (ETH). Blockchain apps do a great job of handling pure currency exchanges, or exchanging some currency for a product or service. Financial services may center on handling payments, but there are more nuances to the many transactions that involve money.

Another rich field for blockchain in the financial services domain is real estate transactions. As with banking transactions, Ethereum makes it possible to conduct transactions without a broker. Buyers and sellers can exchange currency for legal title directly. Smart contracts can validate all aspects of the transaction as it occurs. The steps that normally require an attorney or a loan processor can happen automatically. A buyer can transfer funds to purchase a property after legal requirements are met, such as validating the title’s availability, and filing required government documents. The seller receives payment for the property at the same time the title transfers to the buyer.