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20/12/18 07:00 UTC-4

"Tokenization" of real estate on the Blockimmo Swiss platform

Today, many STO projects are aimed at the tokenizationToken
– is an accounting unit that is used to represent a digital balance in an asset.Details
of real estate objects hidden from the state, the Blockimmo 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
platform has done this within the framework of the existing rules of jurisdiction, as reported by the CCN news agency.

The Blockimmo platform was launched this fall in two pilot versions. In early 2019, the developers plan to set up real estate that is relevant for investors tokenization, but there is no exact information about the launch date yet. At the moment, you can follow the updates of the blockchain platform on their official website or on the page in Medium.

"The innovation of Crypto-Valley in Zug, Switzerland, is stirring: blockimmo is a blockchain-based real estate transactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details
platform. The company provides joint investment in real estate through massive sales of tokens, thereby reducing the barrier to entry into this investment class. The platform is easy to use and provides maximum investor protection."
– from the presentation of the Blockimmo platform on Medium, December 13.

 

Blockimmo – blockchain platform operating principles

The work of Blockimmo is that the property seller lists the property on the platform along with the release of tokens that will represent the shares of this property. Investors can contribute as much as they want and watch the development of the crowdsaleCrowdSale
– is a pre–sale process. Pre–sale of tokens (during, before the ICO or as a marketing ploy) is organized to attract collective investment in the project. Details
. Purchase of shares and their sale may be accompanied by conditions for both parties. The implementation of the agreements will be guaranteed by smart-contracts.

As soon as the sale of tokens is completed, each investor receives into his wallet representative tokens that are associated with the actual ownership of an investment firm in Liechtenstein. The objects that will be sold on the platform, in a legal sense, belong to the Liechtenstein company. Each of the objects will have its own sub-fund. This can be interpreted as an IRL protection.

According to Bastian Don, the project’s founder, Switzerland is a great place to start a project like Blockimmo, because of the organization of the existing land registry.

"The objects that we tokenize are already indicated by the exact E-GRID number directly in the blockchain. (...) This is already a known number in Switzerland, because the objects have already been entered, as such, into their centralized land register. (...) Synchronizing systems would be the first step towards registering land on the blockchain." – Bastiaan don.

The main news last week for Blockimmo was that FINMA, the Swiss financial regulatory authority, approved both the business model and the offer of security tokens. This means that employees of the blockchain project are completely free to achieve their goals and actions.

The slogan of the company, indicated on the official website, was "Promoting an affordable, optimized real estate market". Tokenization of real estate on the Blockimmo platform in Switzerland is an important step for the introduction of blockchain technology into the world of the construction business and real estate.

Editor: Alyona Nabok

See also: "Internet court in Hangzhou will operate based on Blockchain Technology"

#realestate #Zug #Switzerland #blockchain #Blockimmo

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