It was an honor to have represented GBA at the Blockchain in Real Estate 2021 Conference (BIRE2021) on September 9th.
The “Blockchain in Real Estate” conference – BIRE2021 – an extremely well-organized event organized by Blackarrow Conference.com
I joined 3 other international experts in a broad discussion – where we were not always in agreement. Panelists: Nishith Desai (India) Axel von Goldbeck (Germany) Jared Wachtler (USA) Moderator: Jamil Hasan (USA)
My main reference points in relation to the moderator’s questions on legal challenges fell under the following themes:
- Legal challenges in real estate investment and transactions using blockchain are regulatory, tax, AML, identity.
- Legal challenges with contentious issues: support of existing case law, smart contracts (how will issues be resolved?)
- The overall arching problem: 1) the lack of universal standards identification, digitization, custody, recording procedures, etc., 2) contra contracts’ legality and 3) identity verification of the involved parties in relationship to authorization, notary, fiduciary legal capacity.
Join me in revisiting this exceptional 47-minute blockchain session:
Legal Challenges of Blockchain in Real Estate
John Dean Markunas
GBA Leader, Land Registry Working Group