PHYGITAL REAL ESTATE: EXPLORING THE FUSION OF BLOCKCHAIN, NFTS, AND GIS IN COMMERCIAL REAL ESTATES
Abstract
Digital technologies such as Blockchain, Non-Fungible Tokens (NFTs), and Geographic Information Systems (GIS) are generating previously unheard-of prospects. Commercial real estate is one sector which can benefit vastly because of this digital wave. This paper examines the idea of "phygitalization," a term used to describe the merging of the digital and physical domains, in commercial real estate. We explore how Blockchain provides a transparent and safe environment for real estate transactions and how NFTs bring distinct, verifiable ownership structures. Simultaneously, GIS offers improved spatial analysis and visualisation capabilities, which support better informed decision-making. The paper offers a fresh framework for modernising commercial real estate, addressing issues with conventional methods, and clearing the path for a more effective, safe, and transparent market through a thorough analysis of these technologies. The suggested integration streamlines operations and also opens new avenues for value creation and investment in the real estate sector.
Keyword : Phygitalization, Blockchain, Real Estate, NFT, GIS
This work is licensed under a Creative Commons Attribution 4.0 International License.
References
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