Traditional Asset Tokenization
Stephen McKeon
2.4K28

My company velox.re created the first (and only?) legally valid real estate token (deed) in the United States, the culmination of an 8 month pilot program with 1) Chicago’s Cook County of Deeds 2) the International Blockchain Real Estate Association 3) Outside legal counsel and 4) Chicago property owners. Forbes Magazine produced a video about the pilot program entitled, How Blockchain Is Rewriting The Real Estate Industry.

We open sourced our blockchain deed legal and procedural protocol.

Putting high value, slowly traded assets (such as real estate) on Ethereum is irresponsible. Ethereum continues to suffer from contract, wallet, and ICO hacks due to their poorly designed and tested programming language and architecture. For example, the company you cited, REX mls, lost $1.3+ million in their recent ICO by incorrectly creating the contract address. Such incompetence hurts the effort to apply blockchain to real estate assets.

We use bitcoin and the colored coin protocol for their track record of security and stability, and many other criterion.

Tokenizing real estate wouldn’t deliver a 10% liquidity premium, you need two more key components.

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