AssetBlock to Tokenize $60 Million Worth of Real Estate on Algorand

On September 17th 2019, AssetBlock announced
plans to tokenize real estate on the Algorand blockchain. AssetBlock will work with
Lodging Capital Partners (LCP) to tokenize the ownership of $60 million worth
of luxury hotel properties.


AssetBlock Tokenizing
Real Estate on Algorand Explained

AssetBlock is a real estate investment firm. They’ve just
announced the launch of a new platform designed to trade real estate ownership
on proof-of-stake blockchain Algorand.

The deal involves LCP, a luxury hotel asset manager with a
reported portfolio of properties valued at over $1.5 billion.

The new platform, says AssetBlock, will democratize the real
estate market by making it more accessible to both institutional investors and
individuals.

AssetBlock CEO Mike
Liddell
says,

“We saw an opportunity to build a solution that brings traditional and non-traditional real estate investors and professionals together efficiently, creating more opportunities for all involved.”

LCP says the integration of blockchain technology and real
estate brings added liquidity to give them a competitive edge. Steve
Kisielica
, Principal and CIO of Lodging Capital Partners, says

“Our partnership with AssetBlock opens up LCP to a new investor pool which allows us to fundraise and expand our business more efficiently. To remain competitive in an ever-changing landscape, it’s vital for the real estate investment community to embrace technology like blockchain that is pushing the industry forward.”

The new
platform is said to be available in mid-October 2019.

Security
tokens
continue to see increased levels of implementation with real estate.

Earlier this week, Harbor announced
a deal with iCap Equity to tokenize four real estate funds worth over $100
million.

Most argue that the primary advantage of Security Token Offerings (STOs) over ICOs is regulatory compliance. In addition to real estate, security tokens have been leveraged through assets including equity, investment funds, and even fine art.

What do you think of AssetBlock teaming up with LCP to
tokenize $60 million worth of real estate? Will security token adoption be the
result of a specific asset class, such as real estate, or rather an SEC exemption,
such as the Reg A+? We’d like to know what you think in the comments section
below.


Image courtesy of AssetBlock.

The post AssetBlock to Tokenize $60 Million Worth of Real Estate on Algorand appeared first on The Tokenist.

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