Blockchain and cryptocurrencies seem to be an inevitability. Many experts predict that the currency will become a standard form of payment, and it is already seeing increased use with hospitality and commercial real estate companies. Still, there is a lot of unknowns in the world of cryptocurrencies. We recently sat down with Samantha Ahuja, a partner at Morris Manning & Martin, to discuss the benefits of blockchain and cryptocurrencies and how hospitality and commercial real estate firms can leverage them today. While Ahuja declined to comment on the recent volatility that cryptocurrencies have seen in recent months, she does explain the benefits today and the long-term impact they can have on the market in this exclusive interview.

GlobeSt.com: What are the benefits of blockchain and cryptocurrencies in commercial real estate?

Samantha Ahuja: Cryptocurrencies in of itself would be another method of raising capital whether it be on the investor side or from guests and/or customers on the retail side. As cryptocurrencies become more mainstream and more widely held, the ability to accept or transact in cryptocurrencies will become more an expected payment or tender than as it may be thought of today. Many banks and large web-retailers are experimenting with their own version of a cryptocurrency and underlying value Cryptocurrencies represent only a limited use of the blockchain technology. The essence of blockchain technology allows for the existence of a digitized, distributable and immutable ledger that records and shares information with greater validation and security than other existing technologies. An additional added value from the blockchain is that it eliminates the need for middlemen and allows for peer-to-peer transactions to take place directly upon validation. The inherent features of blockchain result in the possibility of endless uses, some of which would directly benefit the world of CRE. Some of those benefits would include blockchain databases, which would be able to store and validate transactions such as the title searches and eventually the transfer of title. Blockchain databases would allow for large amounts of data to be stored on-line securely and even add a layer of transparency as these databases are created to verify transactions without the need for third party interaction. As an individually trusted platform, the ways in which blockchain can facilitate contractual arrangements using smart contracts could allow for users to transact without multiple requirements of data validation or third parties.