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Author Topic: What is the future of asset tokenization? Tokenizing a house and such.  (Read 1302 times)
latoken
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July 14, 2017, 03:22:34 PM
 #1

We(LAToken) are building a platform that will allow people to tokenize real estate(do an ICO of your house), cars, art-work e.t.c.  This mainly allows us to unlock the value of illiquid assets. Let say making a whole new economy on this market, creating liquidity in an old market with very low liquidity and all financial instruments based on securitization. Blockchain allows us to make the transactions peer2peer, fast, transperent, global. You can get some more info here www.latoken.com (this might look like a plug but we really want to get some feedback from the community and it would seem wierd to put our whole executive summary here)

We are getting ready for our Token Sale and would love to hear your thoughts on this subject and feedback about our project.

I think making tokens popular in huge markets like real estate will push the demand for cryptos as a whole and drive in education on the matter for average citizens that won't care about them otherwise.

What do you guys think?
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July 14, 2017, 03:52:49 PM
 #2

Here's the thing I've always wondered - who or what enforces the link between the token and the actual asset?

I could take a million tokens for a house. If i decide the tokens do not represent the house what next? They're just irrelevant strings of numbers.

Smart contracts aren't going to do much right now though maybe in the future.

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July 14, 2017, 04:04:47 PM
 #3

Yeah, right now there is external responsibility in tokenizing assets. So there must be legal documents suporting the connection between assets and tokens. Smart contracts just make this process easier and way faster in terms of transfering partial ownership of assets through our LAT platfrom for example.
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July 14, 2017, 04:13:02 PM
 #4

Yeah, right now there is external responsibility in tokenizing assets. So there must be legal documents suporting the connection between assets and tokens. Smart contracts just make this process easier and way faster in terms of transfering partial ownership of assets through our LAT platfrom for example.

You did not answer his question,who or what enforces between the token and the actual assets ? You know that you need a legal document supporting the connection between assets and token but i can not see the document,doesnt that mean the document not ready yet ?
And what is the different between your peoject and rex (you can see it in altcoin announcement) and what make you better than that project(even thought it was only real estate,please explain it).
I liked your website

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July 14, 2017, 04:22:07 PM
 #5

The most important thing that still make tokenizing assets in real world investment is safety factor. Not all the people with big money are familiar with using latest technology. That's makes some whales afraid and think twice before they put some big money in some projects and get PoA in the form of digital tokens.
I appreciate your will to make tokenizing assets getting more familiar in real estate assets.

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latoken
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July 14, 2017, 04:35:18 PM
 #6

Yeah, right now there is external responsibility in tokenizing assets. So there must be legal documents suporting the connection between assets and tokens. Smart contracts just make this process easier and way faster in terms of transfering partial ownership of assets through our LAT platfrom for example.

You did not answer his question,who or what enforces between the token and the actual assets ? You know that you need a legal document supporting the connection between assets and token but i can not see the document,doesnt that mean the document not ready yet ?
And what is the different between your peoject and rex (you can see it in altcoin announcement) and what make you better than that project(even thought it was only real estate,please explain it).
I liked your website

Ok. In our case, our company enforces the legal connection between the token and assets. Why? Because we(or our partners like banks that do the valuation) take responsibility for the valuation of assets that are being tokenized. Well, the whole idea is that you will be able to see a document of your partial ownership through tokens.

The difference from Rex? Our focus is not on selling real estate. Our focus is on tokenizing assets, creating a platfrom for many types of assets to be tokenized driving this crypto economy forward that is on a few levels better than the existing instruments. Why are we better? If there is REX is just a sell/buy marketplace. We actually bring blockchain and cryptoeconomics into our platform maiking it possible to tokenize Mona Liza, Egyptian Pyramids, your house. These are all assets. Your house is illiquid, Mona Liza is very illiquid and you would never even think about Egyptian Pyramids because they were never moved or salled. We make all these assets liquid. How? By creating a possibiliy of fractionizing ownership thorugh our blockchain platform.

If our company grows and it will. We will be taking over market after market of different assets. Purely because we have an advantage in safety/price/speed/global accessibility and so on.

Thank you for this question! Will be happy to answer more. 
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July 14, 2017, 04:47:15 PM
 #7

The most important thing that still make tokenizing assets in real world investment is safety factor. Not all the people with big money are familiar with using latest technology. That's makes some whales afraid and think twice before they put some big money in some projects and get PoA in the form of digital tokens.
I appreciate your will to make tokenizing assets getting more familiar in real estate assets.
Yeah, just stating once again that we will be tokenizing many types of assets. Real Estate is just understandable and more uprochable for the public.

Security is really an issue. BUT what blockchain gives us is transparent personal responcibility for EVERY transaction.

What happens when houses are being securitized? They are going through one actor to another not stating there personal involvment thus creating possibility of crises like the mortgage crisis of 2008. We are killing off internal banking fraud with blockchain. And there are dozens of other benefits of using our platform.
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July 14, 2017, 04:51:17 PM
 #8

Yeah, right now there is external responsibility in tokenizing assets. So there must be legal documents suporting the connection between assets and tokens. Smart contracts just make this process easier and way faster in terms of transfering partial ownership of assets through our LAT platfrom for example.

You did not answer his question,who or what enforces between the token and the actual assets ? You know that you need a legal document supporting the connection between assets and token but i can not see the document,doesnt that mean the document not ready yet ?
And what is the different between your peoject and rex (you can see it in altcoin announcement) and what make you better than that project(even thought it was only real estate,please explain it).
I liked your website

Ok. In our case, our company enforces the legal connection between the token and assets. Why? Because we(or our partners like banks that do the valuation) take responsibility for the valuation of assets that are being tokenized. Well, the whole idea is that you will be able to see a document of your partial ownership through tokens.

The difference from Rex? Our focus is not on selling real estate. Our focus is on tokenizing assets, creating a platfrom for many types of assets to be tokenized driving this crypto economy forward that is on a few levels better than the existing instruments. Why are we better? If there is REX is just a sell/buy marketplace. We actually bring blockchain and cryptoeconomics into our platform maiking it possible to tokenize Mona Liza, Egyptian Pyramids, your house. These are all assets. Your house is illiquid, Mona Liza is very illiquid and you would never even think about Egyptian Pyramids because they were never moved or salled. We make all these assets liquid. How? By creating a possibiliy of fractionizing ownership thorugh our blockchain platform.

If our company grows and it will. We will be taking over market after market of different assets. Purely because we have an advantage in safety/price/speed/global accessibility and so on.

Thank you for this question! Will be happy to answer more. 

I don't get it, if your company doesn't sell it, then what's the point to tokenizing those asset? Who can claim/have it (house/mona liza)?
What the advantage for buyers/investors who purchase LAT tokens? Or we should have some certain amount of tokens that equal to the house or Egyptian Pyramids in order to get it? I don't know how someone could claim the whole pyramids.



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latoken
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July 14, 2017, 05:32:43 PM
 #9

Hmm imagine taking a 30% ownership part of a house. That will be tokenized. Different investors buy these tokens. Why? They buy tokens from different houses and get a diversified portfolio of the housing market.
As you see we, as a company, don't have to sell it. We legalize this tokenization process. Place these tokens on the blockchain-based platform. Investors then make the action.

In our case a person gets cash/ether for the part of his house that he tokenized. For example 30 000$.

Now lets look at Mona Liza. Louvre decides to sell a 1% ownership part of it on our platform. And gets (for example) 300 000$ for this. Why? Because there are people that want to invest in the art-work market this way.

The list goes on. This is fractionized tokenized ownership.
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July 14, 2017, 05:41:39 PM
 #10

In my humble point of view, tokenizing asset can be an exciting new world for all of us. However, just like anything new this can be subject to many abuses and confusion on the market. Now, in this case, nobody can prevent me from also tokenizing my account here in BitcoinTalk, right? I mean, if I can find at least 20 people who would agree to buy for tokens linked to my Bitcointalk account then I am talking business.

Anyway, we are still in a democracy and under the grey ICO market so anybody can really issue a token and in fact the Waves platform can easily allowed anyone to do that. But all of these would just be adding confusion to an already burgeoning and unregulated ICO market.

In the end, many token buyers would be turned off with this idea and then we will be back to where we started. No wonder there are some who are calling for ICO regulations primarily to protect innocent investors and to prevent the market from "running amok" as Booby Lee said.

Again, this is just my humble opinion. No offense meant for anyone planning to issue tokens for anything he can think of.

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July 14, 2017, 05:49:48 PM
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In my humble point of view, tokenizing asset can be an exciting new world for all of us. However, just like anything new this can be subject to many abuses and confusion on the market. Now, in this case, nobody can prevent me from also tokenizing my account here in BitcoinTalk, right? I mean, if I can find at least 20 people who would agree to buy for tokens linked to my Bitcointalk account then I am talking business.

Anyway, we are still in a democracy and under the grey ICO market so anybody can really issue a token and in fact the Waves platform can easily allowed anyone to do that. But all of these would just be adding confusion to an already burgeoning and unregulated ICO market.

In the end, many token buyers would be turned off with this idea and then we will be back to where we started. No wonder there are some who are calling for ICO regulations primarily to protect innocent investors and to prevent the market from "running amok" as Booby Lee said.

Again, this is just my humble opinion. No offense meant for anyone planning to issue tokens for anything he can think of.

You are right, although we focus on real-world assets. The thing with digital assets that they are very liquid, houses on the other hand are hard to sell, the process is slow and  costly.

It's a whole other topic discussing do we need fracturising of digital assets Smiley

About the grey market thing where anybody can issue a token that is precisely why we need a legitimate responsible company overlooking after a platform that allows people to tokenize their assets and sell those tokens. This third party in our case brings safety, legitimacy and trust into the system.
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July 14, 2017, 06:15:05 PM
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The most important thing that still make tokenizing assets in real world investment is safety factor. Not all the people with big money are familiar with using latest technology. That's makes some whales afraid and think twice before they put some big money in some projects and get PoA in the form of digital tokens.
I appreciate your will to make tokenizing assets getting more familiar in real estate assets.

Tokenization might cause a huge problem in the future. In case of hack and cyber attacks, the mass assets could be stolen easily.
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July 14, 2017, 06:23:19 PM
 #13

Smart contracts aren't going to do much right now though maybe in the future.
Even not in future. People start thinking like anything could be traded without proper backing up them. In my view they just misusing the platform of smart contracts as there will be no obvious reasons to believe into them other than pump and dump benefits from them in short term focusing.

If we go indepth analysis, I believe same set of people must be coming with new projects but with some random names. I am not sure how far it may go.



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July 14, 2017, 06:31:35 PM
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The most important thing that still make tokenizing assets in real world investment is safety factor. Not all the people with big money are familiar with using latest technology. That's makes some whales afraid and think twice before they put some big money in some projects and get PoA in the form of digital tokens.
I appreciate your will to make tokenizing assets getting more familiar in real estate assets.

Tokenization might cause a huge problem in the future. In case of hack and cyber attacks, the mass assets could be stolen easily.

This is questionable. If we take the Ethereum platform for example, when they had a 55mln fraud case they did a hard-fork giving back the money.

In our case, we are the third party that makes the platform trusted and safe. We are planning to stop these attacks by implementing multisig wallets for investors.
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July 14, 2017, 08:23:55 PM
 #15

We(LAToken) are building a platform that will allow people to tokenize real estate(do an ICO of your house), cars, art-work e.t.c.  This mainly allows us to unlock the value of illiquid assets. Let say making a whole new economy on this market, creating liquidity in an old market with very low liquidity and all financial instruments based on securitization. Blockchain allows us to make the transactions peer2peer, fast, transperent, global. You can get some more info here www.latoken.com (this might look like a plug but we really want to get some feedback from the community and it would seem wierd to put our whole executive summary here)

We are getting ready for our Token Sale and would love to hear your thoughts on this subject and feedback about our project.

I think making tokens popular in huge markets like real estate will push the demand for cryptos as a whole and drive in education on the matter for average citizens that won't care about them otherwise.

What do you guys think?

You can already do this on Ethereum or any other blockchain that supports tokens, yet there is no mass tokenization of real estate or other assets. Just as the blockchain technology itself, tokenization isn't needed in every sphere of economy, ICO's are currently very hyped (although recently they have crashed quite significantly), but soon people will start realising the problems surrounding it. Blockchain allows immutable and trustless transfer of money, but not physical goods or services, so tokenization in many cases doesn't improve anything.

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July 17, 2017, 11:17:41 AM
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I recommend looking at Artlery.  They are currently trying to do what you have mentioned with art. 
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July 17, 2017, 11:42:53 AM
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Partial ownership sales are difficult itself, bu nature..
Do you have listed all the potential dilemmas/problems in this whole tokenization process?

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July 19, 2017, 11:43:19 AM
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We(LAToken) are building a platform that will allow people to tokenize real estate(do an ICO of your house), cars, art-work e.t.c.  This mainly allows us to unlock the value of illiquid assets. Let say making a whole new economy on this market, creating liquidity in an old market with very low liquidity and all financial instruments based on securitization. Blockchain allows us to make the transactions peer2peer, fast, transperent, global. You can get some more info here www.latoken.com (this might look like a plug but we really want to get some feedback from the community and it would seem wierd to put our whole executive summary here)

We are getting ready for our Token Sale and would love to hear your thoughts on this subject and feedback about our project.

I think making tokens popular in huge markets like real estate will push the demand for cryptos as a whole and drive in education on the matter for average citizens that won't care about them otherwise.

What do you guys think?

You can already do this on Ethereum or any other blockchain that supports tokens, yet there is no mass tokenization of real estate or other assets. Just as the blockchain technology itself, tokenization isn't needed in every sphere of economy, ICO's are currently very hyped (although recently they have crashed quite significantly), but soon people will start realising the problems surrounding it. Blockchain allows immutable and trustless transfer of money, but not physical goods or services, so tokenization in many cases doesn't improve anything.

Yeah, that's why we are using the Ethereum blockchain. There is no mass tokenization asset platform because
1) nobody except us is making a universal one(we are just starting with real estate).
2) the technlogy is new
3) it's difficult for investors to understand crypto and blockchain
4) there is no trustable 3party/company like us that will provide the legal base for the smart-contracts needed for this kind of business

I agree that  tokenization isn't needed in every sphere of economy. But we can, for sure, say that it is needed in what we are doing. Making illiquid assets liquid.
Our advisor: "The secondary and the primary markets of fractional ownership of home equity and mortgages are now on the verge of a breakthrough, thanks to cryptocurrency blockchain smart contracts" - says David Drake, chair of LDJ Real Estate Fund and member of advisory board of LAT.

There are problems with ICO's. Relatively to most we are different in that we are solving a real problem with a business-focused approach to build our platfrom and develop successful law-ground in different countries.

Thank you for your comment.
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July 19, 2017, 12:11:54 PM
 #19

I recommend looking at Artlery.  They are currently trying to do what you have mentioned with art. 


Interesting project, looks like beheance+etsy+expensive art.

Our vision is that with such a difficult technology for the public to understand only projects that will accumilate the ability to tokenize different types of asset will become popular and successful. That's why LAToken works in different fields as a platform to tokenize assets and unlock value.

Thank you for your comment!
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July 19, 2017, 12:20:45 PM
 #20

Partial ownership sales are difficult itself, bu nature..
Do you have listed all the potential dilemmas/problems in this whole tokenization process?

We are working on them and already have a working Test Net platfrom which you can access here https://wallet.latoken.com/login
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