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.
Further benefit of such an approach to property can be felt by younger, first time buyers or builders. Fractionalisation of the assets is a good way to raise more money for the project and can be financed by anyone, anywhere in the world. Chances of fraudulent transactions are significantly reduced as a common blockchain feature, establishing further trust and ease of operation from the point of view of investors. It is estimated over the next decade tokenisation of assets like property will yield over $5 Billion and Omnia presents an opportunity to be a part of the early-stage development of such a pioneering aspect of an already rapidly expanding industry with exponential potential. The further we progress through time, the more inter-connected the world we live in becomes. Property tokenisation from the point of view of both real estate and other belongings or traditional assets is another example of further globalisation through the application of blockchain tech and the removal of centralisation or outdated middlemen.
To try and put into context the size of the opportunity here, recent estimates suggest that the total world asset value is somewhere between $200 – $300 Trillion. If even just 1% of this becomes tokenised, you’re talking about a market capitalisation bigger than even that of the almighty Bitcoin. Obviously, it goes without saying, but before taking part, do your own research and make fully informed decisions. You can find out more Here about how to conduct meaningful and informed research about up-and-coming projects.
When it all gets boiled down it is amazingly simple. Access to assets and asset development through the removal of traditional barriers and risks. Become a part of the Omnia revolution.
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