Zug Switzerland-based blockimmo allows people to own pieces of Swiss properties with no minimum investment through tokenization, founder and managing director Bastiaan Don said.
Investors can hold on to their tokens and can realize revenue streams should those properties increase in value or they can sell through the blockimmo bulletin board or on a regulated exchange. Sales are direct with no brokers involved and payment can be made in cash or ETH.
Later this year blockimmo said it plans on offering partial sale of properties and crowd sales by auction. Mr. Don is also selling 20 percent of the company itself via blockimmo as an illustration of his confidence in the platform, he said.
“If anyone decides to invest in blockimmo, they will be doing so by using the product in which they are becoming a shareholder.”
blockimmo is also helping public agencies such as the land register offices gain familiarity with blockchain technology and is lobbying political contacts to raise awareness of the technical and financial advantages and explain how the transition to the world of blockchain can proceed.
“We explain, for example, that the properties we tokenize are already designated with the precise E-GRID number directly in the blockchain,” Mr. Don explained. “This is already a known quantity in Switzerland and they are already entered as such in their own, centralized land register. Synchronizing the systems would be a first step towards a land register on the blockchain.”
blockimmo supports all major wallets along with Ledger and Trezor. The tokens represent shares of the underlying real estate.
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