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07/03/19 07:43 UTC-4

Switzerland: first $ 3 million real estate deal on the blockchain

Switzerland was the first to successfully submit a real estate deal on the blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
. The transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details
took place thanks to the cooperation of three companies. These three companies are Blockimmo Ltd, Elea Labs Ltd and Swiss Crypto Tokens Ltd.

The deal, estimated at 3 million Swiss francs, or approximately 2.98 million US dollars, consists of a restaurant and 18 apartments. These projects are now available in the ETH digital blockchain, and CryptoFrac (XCHF) is used to support the transaction to mitigate any price fluctuations.

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Cooperation of three companies

Martin Schneider, CEO of Elea Labs from Switzerland, reported, that for assigning identification data to each building, Elea Labs provided real estate information in orderOrder
– automatic application to buy or sell cryptocurrency. Orders are used during trading on the stock exchange to open and close a position. Details
to make the official property valuation as transparent as possible. This provided the most efficient solution to the process, as well as reduced costs.

First $ 3 million real estate deal on the blockchain in Switzerland. Blockimmo Ltd believes that this is the first step towards the tokenizationToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
of other objects, and we can expect tokens to be listed on the regulated exchange by the end of the year.

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RealBlocks, based in the United States, also believes in this vision and has completed an initial round of funding. It is reported that they are developing a decentralized platform for the tokenization of shares of private equity funds.

Editor: Yuliya Soroka

See also: "Republic of Singapore: what is the situation with cryptocurrencies in Southeast Asia"

#Switzerland #property #tokens #blockchain

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