What is the potential impact of Bitcoin for the Arizona economy?

Associate Professor of Finance Geoffrey Smith believes that while Bitcoin is extremely volatile today, it is something that will have value in the future. What about its potential for the Arizona economy specifically?

In this KJZZ podcast on Jan. 3, 2018:

"Blockchain technology is primarily a record-keeping technology. Arizona has a lot of real estate transactions. That type of technology could be used to keep track of real estate transactions, eliminating the need for middlemen to monitor those transactions. Maybe in Arizona, the need for blockchain technology for real estate transactions will be something that evolves in the future."