The tokenization of art, game, and other assets starting to gain popularity in the cryptocurrency market, but real estate tokenization is not far behind.
Blockchain technology has recently been adopted and adapted for use by the commercial real estate (CRE) industry, as per a report by consulting firm Deloitte. CRE executives are finding that blockchain-based smart contracts can play a much larger role in their industry.
Commercial real estate constitutes a significant portion of world economic asset and transaction activity. According to an MSCI report, the size of the professionally managed global real estate investment market increased from $7.4 trillion in 2016 to $8.5 trillion in 2017.
However, the real estate market of today has inherent transactional friction and opacity; a system …