TOKENISING REAL ESTATE — FRACTIONALISING REALITY THE OMNIA WAY
One of the many — but perhaps most exciting — applications of blockchain technology to be launched by the up-and-coming Omnia DeFi project (You can get $OMNIA early by joining their whitelist here) is the tokenisation of real estate, property and land. At any stage of a property development project, tokenisation can be of benefit not only to existing developers, but also first-time buyers, builders, or investors.
Why would such tokenisation be of benefit? Well, with this approach, many traditional barriers are eliminated. Property can be fractionalised efficiently, without the need for expensive and time-consuming legal procedures, as for those who do not know, land and property is a specialist area of law. As a result, the overall value of the asset has arguably a higher level of protection as the asset can easily be traded in such a marketplace, cutting out a cluster of archaic middlemen. This does not just apply when selling the asset however, real time valuation records can be easily obtainable, without the need for surveyors, or financial advisors. Investors can have a far more accessible view of the property as through the blockchain based system a record of all warranties, easements and underlying property details can be maintained and viewed through simple block explorer searches.