Tokenizing Real Estate on the Blockchain

Progress happens in several ways, and Real Estate cannot be out of the equation.

Tokenizing

Even the so called “experts” have asked once what exactly is that. If you have a clear idea of Tokenization applied to Real Estate, I suggest you skip this one and jump to the next section. Let’s start with the basics,

Tokenization, when applied to data security, is the process of replacing sensitive data with unique identification symbols that retain all the essential information about the data without compromising its security. In lexical analysis, tokenization is the process of breaking a stream of text up into words, phrases, symbols, or other meaningful elements called tokens.

Understanding this concept, we can say that we use Tokenization as a method to convert rights to an asset into a digital token. By Tokenizing assets, we have a digital representation of a real-world asset on a blockchain.

Tokenize a property is basically generating a token on a Smart Contract and give a value to that Token in correspondence to the real asset. It is the easiest thing ever. What matter is how do you want to manage the tokenized property. As in the case of a Real Estate Property, you can tokenize any real-world asset as mentioned above. Let’s take a look what it looks in the Real…