Block by block: Blockchain technology is transforming the real estate market – Cointelegraph Magazine

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The real estate industry has been a staple in the traditional finance world for centuries. Combined with the use-cases of blockchain technology, the crypto market cap could triple in value. (Via CointelegraphZN)

“We believe this market will be more open to alternate sources of capital raising, including tokenization,” Navonil Roy, CEO of United Arab Emirates-based LandOrc, tells Magazine. His firm facilitates lending for the real estate industry by providing access to decentralized financing, using land titles in nonfungible token form as a collateral.

“Blockchain is a technology that requires coordination among market participants. Until there is more adoption of this technology, the impact will be limited,” Black tells Magazine, adding: Another obstacle is that so much of the required data to complete a tokenized real estate transaction does not occur natively on the blockchain. It has to be entered manually. University of Basel professor Fabian Schär, for example, wanted to invest a few hundred Swiss francs in a multifamily house in Detroit, as he“‘The technical process related to the token functioned seamlessly.

“Their expectations of returns in the digital asset world cannot be replicated with real world assets, which are grounded by real world economics. This change in mindset is the most daunting obstacle.” “In the future, real estate title could be issued as a nonfungible token,” Black tells Magazine. “The owner of the property would maintain ownership of the token in a digital wallet. Changes in the value of the property would be reflected as changes in the value of the NFT.” Further:

 

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