Blockchain Technology and Real Estate – a cluster analysis of applications in global markets in the year 2021

Research background: Since the announcement by entrepreneur Elon Musk in the year 2021 about the inclusion of Bitcoin on the balance sheet of his automotive company Tesla, the economic significance of cryptocurrencies for the financial industry is taking on progressive importance. In addition to the financial economic consideration of cryptocurrencies, the underlying blockchain technology is undergoing a disruptive growth across industries – e.g. from automotive to real estate. Accordingly, in the report ‘Deep Shift Technology Tipping Points and Societal Impact’, the World Economic Forum predicted a far-reaching significance of the blockchain technology as early as 2015, and in 2020, the Global Future Council published a finding that the crypto market has reached a point of inevitability. Purpose of the article: The aim of this paper is to examine the degree of integration of the blockchain technology within the framework of a current market investigation using the real estate industry as an example. The leading application areas of the blockchain technology in the real estate industry will be presented. Methods: The market investigation of this paper is based, among other things, on a cluster analysis that examines a regional differentiation of the application areas on a global level. Findings & Value added: In this context, the market research indicates that the blockchain technology can be applied significantly in the real estate industry and that the Global Future Council finding can be replicated in many areas.