The UK's largest commercial real estate development and investment company says the blockchain "of course" will play a role in its business

The UK's leading commercial real estate developer and investor, Landsec, has acknowledged that blockchain technology is set to play a significant role in its operations. With a vast portfolio that includes 2.6 million square feet of commercial properties across London, high streets, shopping malls, and retail plazas, the company also manages iconic assets like the Piccadilly Lights advertising screen in the heart of London. During an interview with CNBC, CEO Robert Noel was asked whether Landsec would integrate blockchain into its business model. He responded: “Of course, if you understand what we offer, it’s all about the services we provide to our clients, which are centered around contracts. Anything that can streamline traditional land law, contract law, and lease law will be welcomed.” Landsec is already exploring how blockchain can accelerate key processes such as contract signing and documentation. By using this technology, parties involved can access tamper-proof copies of contracts, which are automatically executed once agreed-upon conditions are met. This not only speeds up the process but also reduces the back-and-forth between stakeholders. However, Noel emphasized that the technology won’t replace lawyers, but rather enhance their efficiency. As distributed ledger technology gains traction across various industries, more companies are starting to recognize its potential. Law firms, too, are experimenting with blockchain to see how it can simplify manual procedures. A February report by a New York-based law firm highlighted how blockchain could eliminate many steps in smart contract execution. Hogan Lovells, for instance, sees the potential of smart contracts to automate agreements without human intervention, allowing legal professionals more time for strategic work. Yet, while blockchain offers promising solutions, it raises questions about the future of traditional client-lawyer relationships. In June, one of Australia’s largest law firms issued a report advising clients to use blockchain-based tools to manage untrustworthy business models. This reflects a growing trend of leveraging the technology to improve transparency and reduce risk. Although blockchain is still in its early stages of adoption within the legal sector, its impact is becoming increasingly evident. As more companies and law firms experiment with its capabilities, the way we handle contracts and legal processes may soon change dramatically. However, the role of lawyers remains crucial—especially in interpreting and managing complex legal frameworks that technology alone cannot fully address. This article reflects the author’s personal views and should not be taken as official advice from any organization. It is intended for informational purposes only.

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