Can FinTech Progress the Real Estate Sector? The Disruptive Role of Crowdfunding & Blockchain: A Systematic Literature Review

Abstract

The aim of this article is to examine the literature on the role of two dominant players within the FinTech world in recent years: on the one hand, crowdfunding and on the other, blockchain. Our focus will be on the traditionally static and non-innovative real estate sector, trying to analyse how the latter can benefit from the use and interaction between these two new actors. Through a systematic literature review (SLR), 143 scientific articles based on current literature have been identified to better understand the topic. The information collected from the selected articles is presented and summarised in specific tables and graphs for a more immediate understanding. The qualitative research software Nvivo was also used. This research found 43 out of 143 articles analyse the phenomenon of crowdfunding based on blockchain technology from an economic point of view. After the descriptive results through qualitative analysis, the evidence that emerged is that none of the articles analysed deals with the issue in terms of real estate to understand possible practical implications and further theoretical contributions. This research work suggests to investors who intend to invest in real estate, how new investment methodologies could bring enormous benefits to a sector that is less prone to innovation and traditionally static, considering how the use of new technologies applied to alternative financing instruments would make real estate investments much more attractive and accessible. This study contributes to advancing knowledge of the FinTech world, specifically of new alternative financing instruments such as crowdfunding and new emerging technologies such as blockchain, from a theoretical point of view. As far as the authors are aware, this is the first study that systematises the international literature on the subject, highlighting the main contributions written on the subject, always keeping a focus on real estate.