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The Impact of Technological Developments in Virtual Real Estate on Transactions: Virtual Reality, Blockchain, Tokens

In: Proceedings of the 2023 2nd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2023)

Author

Listed:
  • Fan Li

    (The Hong Kong Polytechnic University)

Abstract

Real estate has experienced the development of virtual reality, blockchain and token technologies, and has undergone a transformation from physical space to semi-physical space and virtual space to. The explosion of the Meta space concept has brought virtual real estate into the public eye. This paper focuses on the transformation that virtual reality, blockchain and token technologies have brought to virtual real estate. Virtual reality technology enables remote viewing and can help reduce the time consumed by transactions. Blockchain technology improves the reliability of property registration and helps to reduce the lengthy process of real estate transactions. Token technology divides property rights and facilitates the entry of retail investors into real estate transactions. This paper composes information from several aspects and illustrates using examples to conclude the technological development of virtual real estate and suggest feasible research directions. Overall, these results shed light on further exploration to guide the development of virtual real estate technology.

Suggested Citation

  • Fan Li, 2024. "The Impact of Technological Developments in Virtual Real Estate on Transactions: Virtual Reality, Blockchain, Tokens," Advances in Economics, Business and Management Research, in: Faruk Balli & Hui Nee Au Yong & Sikandar Ali Qalati & Ziqiang Zeng (ed.), Proceedings of the 2023 2nd International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2023), pages 107-114, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-268-2_14
    DOI: 10.2991/978-94-6463-268-2_14
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