We recently had the chance to partner up with Briken on their Real estate tokenization project . This gave us the chance toa take a closer look at the impact that the blockchain has on this industry.
What is real state tokenization?
This refers to the process of dividing ownership of a real estate asset into digital tokens, which can be bought and sold on a blockchain. These tokens represent ownership in the underlying real estate asset and can be easily bought and sold on a blockchain platform.
Our challenge was to work on the front end of their platform. The goal was to enable a more fluent experience for users so that they can take advantage of this technology to have better access to property trade.
How does real estate tokenization work?
Well, this changes the game for many, providing an opportunity to property owners to first create smart contracts on the blockchain that specifies the number of tokens. These tokens will be issued for each property. The owners can sell these tokens to investors, who become partial owners of the property. Investors can buy a small number of tokens that represent a fraction of the property, rather than having to purchase the entire property.
This can make it easier for individuals to invest in real estate, as it allows them to purchase a smaller amount of a property at a lower cost.
This also allows faster and more efficient buying and selling of real estate assets. Since ownership is recorded on a blockchain, the transfer of ownership can be done quickly and securely. Yes, without the need for intermediaries such as banks or lawyers.
True potential of real estate tokenization
So, real estate tokenization has the potential to increase liquidity and transparency in the real estate market, and to make it easier for individuals to invest in real estate assets. From where we stand it’s key to understand technologies and processes. This will help us work on a product development that has better touch points with the target audience. Being more engaging, easy to use and helpful for every user.
If you have an idea or are working on a project you could use some help with, feel free to contact us! We’d be happy to help you… or who knows? Maybe be your new partner in crime.
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