Tokenization of Real Estate: from New Investment Options to the Futuristic Cities of Tomorrow
With the emergence of blockchain, lots of industries are looking into the options it can bring about. Starting as an infrastructure solution for a virtual currency, Bitcoin, the technology then evolved into something bigger.
Nearly ten years after Bitcoin was first announced, blockchain-powered solutions have expanded far beyond the financial industry. The immutability and utter security of the technology were appreciated by banks, financial institutions, logistics companies, the videogames industry, and many more.
Media reported that some governments tested the waters of innovations by putting certain property-related issues onto the blockchain. Thus, Ukraine’s government seeks to blockchainize real estate titles as of 2018. Earlier, it was announced that the technology will be employed for the same country’s land cadaster. Japan has announced the implementation of blockchain in its real estate ledgers this summer. All in all, governments seem to embrace the innovations.
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