Whether buying, selling or tokenizing real estate, the property market and blockchain are deeply intertwined. As the purchase of property has become possible with bitcoin, so has the wider potential of blockchain technology to transform the industry. The convergence of real estate and cryptocurrency is no longer the stuff of idle speculation, but a growing sector that has already begun to bear fruit.
Also read: Buying and Selling Property With Bitcoin Is More Complex Than It May Seem
From Buying It With Bitcoin to Tokenizing It: The Evolution of Real Estate
“Few assets, except for possibly fine art, are more illiquid than real estate,” observes Marvin Steinberg, explaining the conditions that prompted the property industry’s tokenization. The founder of STO advisory firm CPI Tech continues, “If you’ve got a $10 million waterfront development and you want to sell it, you’ve got to find another buyer with $10 million to spare. There aren’t a lot of people with that level of funds on hand. However, take that development, tokenize it,…