In a historic leap forward for the world of real-world assets (RWA) and decentralized finance (DeFi), Blocksquare proudly announces a groundbreaking achievement – the first-ever notarized tokenization of a real estate property, seamlessly integrated with the Slovenian land registry. With over $70 million worth of real estate assets already tokenized across 18 countries through the Blocksquare tokenization protocol, this achievement is a game-changer for the industry.
Tokenization, the process of transforming physical asset rights into crypto tokens on a distributed ledger, has revolutionized the real estate sector. Each of these tokens represents a fraction of the property’s value, offering a safe and transparent system for real estate ownership, as Denis Petrovcic, CEO of Blocksquare, puts it, “Blocksquare has transformed a distant dream into reality.”
What makes this achievement truly remarkable is the integration of notarization into the tokenization procedure. Blocksquare got legally recognized for tokenization by engaging a public notary to authenticate the transaction. This development strengthens the existing protocol provided by Blocksquare and opens up new avenues for institutional real estate owners and organizations to leverage blockchain technology.
Bank of America’s recent report notes that “Blockchain-based tokenization of real-world assets (RWA) is gaining traction among major financial service firms and other big brands.” The convenience of trading assets, with no need for traditional brokers, is a key driver. Moreover, Boston Consulting Group (BCG) projects that the total value of tokenized illiquid assets, encompassing natural resources as well as real estate, could reach $16.1 trillion by 2030.
According to Petrovcic, this notarized tokenization of real estate assets sets the stage for a revolution in the real estate and blockchain sectors. The seamless fusion of distributed ledger technology with the land registry ensures compliance, adaptability, and security across jurisdictions, offering myriad possibilities for investors seeking global real estate opportunities via blockchain-based solutions.
This monumental achievement is the result of visionary and innovative minds working in unison. Blocksquare extends heartfelt gratitude to all those involved, particularly Peter Merc, Co-founder and CCO, Manca Petrovcic, Head of Legal, and notary public Barbara Andric Velkovrh. Their unwavering vision and commitment to redefining property ownership structures have been instrumental in this remarkable success.
Blocksquare is a leading innovator in the field of real-world asset tokenization and decentralized finance. Through pioneering approaches and groundbreaking accomplishments, Blocksquare continues to redefine property ownership and investment through secure, transparent, and legally authenticated blockchain solutions. With an unwavering commitment to revolutionizing the real estate industry, Blocksquare is at the forefront of driving transformative change.
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