IS FUTURE TOKENIZATION OF PROPERTY MARKET something we should all be aware of?

crypto.piotr (70) · 6 years ago (edited)

Dear @ulqu3 and @everyone else reading my comment

I've been researching for quite some time about future of STO (security token offerings) and I came several times accross idea of tokenizing property market. And to be honest I don't know what to think about it.

Most of us already understand the difference between "housing market" and "property investment market".

How will tokenization of property market impact both of those markets in most popular places? Like Mumbai?

In my opinion we will witness even more empty appartments, which are being nothing but investment. At the same time prices in prime locations will increase most likely to the point that REGULAR JOE will completely not be able to afford.

I think that inequality in those prime locations and living standards will change immensly.

Yours
Piotr

$0.19

18 votes

machnbirdsparo (65) · 6 years ago

There will certainly be a transition period. I believe, as other other areas innovate, like transportation and ability to earn, tokenization of real estate will mature. While this is probably far down the road, asset-backed tokens will demonstrate what is possible and begin to open the eyes of the world.

In the coming years, projects like JPMorgan Coin, IBM and Oracle's blockchain investments, and Amazon cloud services, will spur interest. It will be more of a follow the leader type of thing until the generation that grows up with blockchain makes its use comfortable.

I doubt blockchain will be used for anything like twitter (crypto-kitties) for much of the population over the first five years that every phone comes standard with a blockchain app. But then, quickly we will see a global (not nation or great firewalls) shift. Making things real creates real change.

$0.14

4 votes

kcherukuri (55) · 6 years ago

Hey @crypto.piotr,

I came across this platform sometime back in Oct or Nov 2017 I guess. I am not really sure though. Brickblock is conducting their pre ICO during those days. I was excited about the idea after going through the whitepaper of this project. As far as I remember I will put the information here.

This project works like an apartment. In Apartment there will be so many flats. Each flat is owned by a particular individual. And they have their own rights. Apartments have different rules compared to individual houses. In the same way Brickblock will find a property which is for sale. That will be kept on sale for token holders. If the token holders are interested they can invest like 1000 dollars or what ever they desire in the form of BBK tokens. It might be of any amount. This will go on till the property acquires full amount. So technically here the property will have multiple owners depending on their investment. So if they want to rent out that property they will be getting rent as per agreement and for the individual part.

Coming to the legal implications BBK has separate legal cell which will handle these things initially before auction and they will keep the property or land for sale.

I hope this clears the confusion.

$0.10

tarazkp (80) · 6 years ago

What I would like to see is the investing into the development of housing projects where rather than just buy and sell, the tokens own a stake of the property itself so that investors carry liability. If the development is not done well or not demanded, the investors lose out. However, this can also be used to build all kinds of developments and get projects up and running faster than currently.

$0.04

5 votes

pangoli (69) · 6 years ago

I agree. this would force innovation, raise the standard of housing and raise competition. Which in the end, would benefit the person occupying the house.

$0.03

lanzjoseg (74) · 6 years ago

Dear @tarazkp and @crypto.piotr

Starting from this point, it would also be very beneficial for investors. since they would also have a tangible asset under their investment.

tarazkp (80) · 6 years ago

since they would also have a tangible asset under their investment.

This is what crypto needs to start doing, buying back into the real world with crypto, not cash.

$0.00

nurseanne84 (62) · 6 years ago

Ok.Like @crypto.piotr, I am also a bit ambivalent with the whole project because:

Pros:

The block chain will ensure that property disputes will be avoided/ quickly be resolved
Anyone can buy any property from anytime, anywhere without going through rigorous procedures

But, the downsides are:

Mere mortals like me might have difficulty affording it
And, let's not forget that, no matter how secure the server/ network is, there will always be those times when glitching/ hacking/ anything can go wrong type of incidents- I am not pessimistic folks. I am just realistic especially because the technology is still very young.

Why not just do a rent to own program for now just to see how things are in real time?

$0.00

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crypto.piotr (70) · 6 years ago

Dear @tarazkp

Thank you for sharing your thoughts on this particular topic. Seriously appreciate it.

ps.
I NEED YOUR HELP :) Nothing serious really. But I still hope you can spare few minutes of your time :)

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This is just a first round attempt. I hope we can make it to second round hahha :) Naturally I would appreciate if you could ask your friends to help with our little "quest" :)

Let me know what you think? Perhaps you can also share some advises and hopefully we can "do little bit of brainstorming". Would be awesome to win :)

Yours
Piotr

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pangoli (69) · 6 years ago

Seems this page takes too long to load for me, and it doesn't show the comments.

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[https://www.google.co.in/amp/s/m.timesofindia.com/city/chennai/south-chennai-is-hub-of-property-fraud-in-city/amp_articleshow/65919840.cms]

marvyinnovation (51) · 6 years ago (edited)

Hi Piotr Sir,

The problems pestering the investors during the purchase of either a plot of land/independent house/an apartment are many. If they're not aware of the cheating practices involved in the buying and selling of properties, they will be losing their hard-earned money just like that.

I would like to tell you one mind-blowing case that shook our state top to bottom and the purchasers of a prime property in T.Nagar as well. The strange thing that happened and that needs special mention here is that the very same property has been sold to five different parties and queerest thing worth mentioning here is that all of the five parties involved in the purchase of the same were given five original documents for that very same property!

I checked with the net to get more details, but couldn't get it. Instead I am posting another link which explains about the property fraud extensively.

If the STO is adopted with full force, then we can put a full stop to all these sorts of malpractices once for all!

crypto.piotr (70) · 6 years ago

I just read your amazing comment @marvyinnovation

Thanks for sharing your knowledge and for your effort.

yours
Piotr

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investprosper (57) · 6 years ago

Notwithstanding the speculative wave that is bound to occur if tokenisation of real estate really takes off, the pros outweigh the cons when you consider the immense benefits offered by a transparent process and the elimination of cumbersome paper work and agent fees.

Posted using Partiko Android

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https://steemit.com/dpoll/@theycallmedan/20k-steem-delegation-poll

crypto.piotr (70) · 6 years ago

Dear @investprosper

Thank you for sharing your thoughts on this particular topic. Seriously appreciate it.

ps.
I NEED YOUR HELP :) Nothing serious really. But I still hope you can spare few minutes of your time :)

I found out about great contest where winning community can receive a year's delegation worth of 20k SP!

I know that it's probably a long shot and most likely our community won't stand a chance in this contest. But I love being the underdog! Let's give them a fair fight :)

This is just a first round attempt. I hope we can make it to second round hahha :) Naturally I would appreciate if you could ask your friends to help with our little "quest" :)

Let me know what you think? Perhaps you can also share some advises and hopefully we can "do little bit of brainstorming". Would be awesome to win :)

Yours
Piotr

$0.00

marvyinnovation (51) · 6 years ago

Absolutely @investprosper. There is no second thought about it.

Posted using Partiko Android

$0.00

neavvy (59) · 6 years ago

Great comment @crypto.piotr. The biggest problem I can see if it comes to tokenization of property market and STOs is that this "revolution" is charged with very serious restrictions. We all love crypto because it is something independent of the whole system, banks and governments. The decentralisation is real and everyone can feel like an important part of the blockchain.

If it comes to securities, I am afraid that this "spirit" of crypto is lost. We need to fit into all regulations, blacklist users from certain countries due to the law and collect data about them through KYC. I know some of these changes are necessary, but I have the feeling that we are further and further from the vision of Satoshi Nakamoto.

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rufusfirefly (61) · 6 years ago

The article assumes that local laws and regulations will be bypassed. I don't see that happening because of things like laws against tax evasion and the necessity to maintain public titles. So, I don't see the speculation developing as a result of the privatization of ledgers.

Still, there is room for tokens to simplify and publicize now opaque processes and reduce transaction costs. In fact, publicity will reduce money laundering and capital flight. Dictators and their cronies won't be able to purchase foreign properties unnoticed.

One problem I haven't seen addressed is liens like mortgages and legal penalties.

Posted using Partiko Android

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berniesanders (77) · 6 years ago

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fucho80 (71) · 6 years ago

Dear friend @crypto.piotr, In that aspect I totally agree with you, and I think so, for the following reason: The world as a whole still does not fully manage tokenization, that is, only a small percentage of citizens in the world are adopting is a form of currency, which would leave without options to a large number of people around the world, who would see how a few investors who have large fortunes in cryptocurrencies are still taking over the planet.

With this I do not underestimate the opportunity that this technology represents for all, and the opportunities it gives you to be decentralized. Being honest, I think it would be some time before a project like this represents investment opportunities for all and that there is equality.

I would also ask: What regulations would there be to recognize a property that I bought in another country if there is a claim? Would there be a physical support (documents) to prove the property?

Forgive me if the questions seem vague and you do not understand much, but it is the doubts that I have.

Pr E-V

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hobo.media (64) · 6 years ago

I agree with you about it adding to the empty apartment problem. Beijing and Shanghai are full of apartment buildings that many people cannot afford and are also not bringing in money to the owners other than speculative house flipping. If tokenization of real estate occurred, especially with ICOs on real estate, you would likely see a major boom in the contruction industry, but it would likely result in another bubble.

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fitinfun (71) · 6 years ago

I only owned a house once for a brief time and hated it. I don't really follow anything about real estate and have very superficial knowledge of crypto issues. I think it will be a fight to remove government control from any facet of life, but it can not happen too soon.

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gabbynhice (66) · 6 years ago

Agree with your opinion and i have another question.
How they can sell a property example somwhere where you cant sell?
Example philippines is also one of those countries where foreigners cant buy a land. Funny stuff you can buy a condo if it is on stairs😁
So i think this can work maybe but not now for sure.
Plus whe i wrote the example about eifel tower 😂😂 just i remember the guy who scam with it and sold it few times😂
So i really dont know. Interesting topic and i bet it is a good idea but not yet.
Everything have a right time.

Posted using Partiko Android

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luciannagy (68) · 6 years ago

Regards @crypto.piotr

I think that we are thinking to far away :-) As long as people will not be willing to invest in a token, let s say like this one: https://tronscan.org/#/token/1001897 LNToken that sustains not only the art/artists but the most important the charity causes, we cannot talk about changing the World through implementation of cryptos inside the real estate space.

Too much speculative state of mind in this sector and also, how ever, the cryptos are something inevitable and futusistic that might give the people the glimpse/hope of having a better World, on the other hand or the opposite side of this story, imagine that even at this moment most of the people, expecially those from India, and other places arround the World with the same traditional habits, has not even heard about cryptos, or at least visa cards ... even if now we're assisting of a sort of decentralization in some places in Africa, where after the disaster will occur and wipe out those old properties, maybe through the new technology of cryptos, the new futuristic buildings will appear with the big whales investors.

Let's not forget that through steemit, Nigeria, for instance is one of the biggest middle state between producing a high percentage of the steempower and also the new possibility of being the opened mind crypto state of Africa where the real crypto estate will grow in the next couple of years ... just saying ;-)

Meanwhile, i do think people should not think to tokenize their minds too much :-) Platforms like tronscan is a good start, but not in the way of entering only the dapps world, i mean when you're creating your own token with a purpose ... as i've mentioned above, for instance, this one https://tronscan.org/#/token/1001897 will or could be able to invest in max. 5 yrs.in building real houses based on cryptonian earnings, but first let's see the investors :-)

After that we can talk about how the old real estate and its old habits will be changed, so the " Regular Joe" will afford an appartment, but of course by that time evryone will even work as a salary for some crypto currency :-)

Regards to you all.

LNToken https://tronscan.org/#/token/1001897

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marvyinnovation (51) · 6 years ago (edited)

@luciannagy,

Wonderful reality check. I agree with you 100%

"......even at this moment most of the people, expecially those from India, and other places arround the World with the same traditional habits, has not even heard about cryptos...."

it's hell yes and here we aren't done away with our traditional habits and suffering a lot from the consequences (cheating through various ways) that arise aftermath.

let's think generally forgetting the boundaries.

if we don't give way for a change, then how can we put an end to the current state of perils we are undergoing in the traditional process of buying/selling in the real estate.

Adapting ourselves to a "change" to a new thing is painsome at the beginning, but in the long run, I hope this will turn out to be a BOON to all of us. Isn't it?

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crypto.piotr (70) · 6 years ago

Wow. Thank you for this brilliant comment @luciannagy

Appreciate it a lot.
Yours
Piotr

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manoldonchev (69) · 6 years ago

What changes is the effort put into buying the property. And perhaps the feeling of a secure deal the buyer has. What else? This is what I can see but I am shortsighted in this.

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machnbirdsparo (65) · 6 years ago

Fractional ownership is the future of much of finance because the Internet has shown the world something new. In the past, before the digital revolution, we would sift through book. Reliance, or trust, would need to be places on experts to maximize time.

The Internet made possible the specific search of words and targeted information. Now we can be certain of what is and is not contained in a resource. While it will require AI to determine the more important breadth of content, this searchable info is a great advance for all of society.

Blockchain is data management. The Internet was information (data) dissemination. ::Cough:: Imagine blockchain with out dissemination (distribution). Fractional ownership and crowd funding can be compared to the search-ability of information.

While most people will have no use for actually using their 'stock-like' PoA tokens for anything but value, those that do will drive the Information Age toward the Web of Value (Internet [3.0 ]). These value users will make blockchain the new gold standard.

Consider my usage of the searchable Internet of info for the term "fractional ownership". Besides myself, it was only mentioned by 2.21.19 by @definethedollar in referring to solar wind farms. Well, fractional ownership of these farms could be a way to by solar panels and instead of sitting in a stockroom, be put to use.

Another way to use blockchain's fractional ownership is to purchase areas of a mall or real estate development. Whether physical locations are specifically tagged or a certain percentage to use an area with ownership functions, tokenization represents a more efficient, practical, and useful way to treat illiquid assets.

Neat topic @creativeblue. Those with money and power realize what is going as is demonstrated by their private blockchains. One can only wonder how good an investment private effort will turn out once the world's blockchain chain replaces Internet Protocols. These private blockchain may be the tech goliaths of the future or represent the demise of long establish companies.

$0.17

7 votes

intellihandling (63) · 6 years ago

Dear @creativeblue, i remember when i was young that real estate market was drived by a kind of piramidal system where there was in special tourism area like Canaria islands, S.Domingo, Baleari islands some pour people engaged to find possible customers with the promise that you could by 2 weeks of vacation every year for all life long whatever you want by this real estate piramidal system.
There was a very big affairs about it because seems that who drive this business was something connected with criminal associations and use very strange methods to convince people to buy this package even with ipnotize or give drug to make them confused and more easy to let buy it.
Of course what you are talking about is not that kind of business, but what @crypto.piotr say is something connected with it and i think house property must be keep in the hands of each government because of taxes and ownership regulations...

$0.14

5 votes

steem-bounty (72) · 6 years ago

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$0.13

8 votes

steem-bounty (72) · 6 years ago

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vimukthi (72) · 6 years ago

This is actually one of those places where crypto can massively change the game. I've seen how buying and selling of property work and it's a nightmare. There are so many inefficiencies and it looks like almost nothing had changed from the colonial times except for some electronics.

Lots of people are going to hate this because lots of middlemen are going to be left dry and consumers are going to benefit a massive lot. It's going to involve more work than buying purely virtual assets such as @steemmonsters But the amount of costs spend on companies and lawyers can be saved which could easily free up at least tens of billions of USD for other tasks making the world a more efficient and therefore a better place.

BTW @crypto.piotr sent me :-)

$0.06

worldfinances (61) · 6 years ago

That was already discussed by Greek technologist Andreas M. Antonopoulos. He said....which products or services can be traded with bitcoin? Answer is everything. And also who can have his own coins? Everyone! But people around the world have to accept the fact, that crypto currencies are already changing their life (even if they dont have a clue about it)

In 1950s....people were in same denial about credit cards as they are today about the blockchain. When they saw mastercard the forst time, they said : "this piece of plastic is not money! Get away!" :D

What I want to say is....blockchain is just making another step in monetary revolution. And sure....real estate will be tokenized. Like everything else. If government will not support it, people will still trade houses or flats in crypto currencies. Your name is registered in town hall only as new owner.

$0.03

definethedollar (67) · 6 years ago

I think security tokens will be the next big ICO craze...whether or not that is “good” for the the economy or the cryptosphere remains to be seen.

I think tokenized real estate is a great idea that can open worlds of investment opportunities...I especially see fractional ownership of solar or wind farms paying out proceeds in proportion to ownership...

As far as private property, not so much; would have to be all or nothing tokens...could make recording property transfers quicker and trustless and help to resolve disputes...so actually a good idea too, just not fractionalized.

machnbirdsparo (65) · 6 years ago

STO will certainly add viability to blockchain. ICOs were always a tentative thing meant to help usher in blockchain innovation. Maybe STOs will just be a top level transition for the Web of Value with ICOs being practical for anyone with a smartphone.

It would be prudent to coin the term "hardwalletphone" or simple walletphone at this time.

$0.19

8 votes

https://steemit.com/dpoll/@theycallmedan/20k-steem-delegation-poll

crypto.piotr (70) · 6 years ago

It's me again @definethedollar

Thx for your previous comment. I always appreciate the fact that you're so very supportive and reponsive. Respect for that.

ps.
I really could use YOUR HELP :) Nothing serious really. But I still hope you can spare few minutes of your time :)

Can you open this post and write a comment: "I nominate @crypto.piotr and @help.venezuela?

We've a chance to win 20k delegation (for 1 year) and I hope I can count on your support.

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I would appreciate :)
Piotr

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definethedollar (67) · 6 years ago

Done 😃

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crypto.piotr (70) · 6 years ago

Hi @definethedollar

It's me again :)

Please don't forget to help us :)

Competition between us and "top dog" (SteemBloggers) is really intense. Head to head after 4 days:

Another 3 exciting days to go in front of us :)

Allow me to remind you link to vote:
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Please vote on "SteemChurch". I would appreciate your support a lot.

Yours
Piotr

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siphon (60) · 6 years ago

If cryptos actually had a countervalue like real estate, it would definitely be conducive to the security of money. However, I don't think it fits into today's economic system because it would severely limit growth or an enormous inflation would be the alternative.

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crypto.piotr (70) · 6 years ago

It's me again @siphon

Thx for your previous comment. I always appreciate the fact that you're so very supportive and reponsive. Respect for that.

ps.
I really could use YOUR HELP :) Nothing serious really. But I still hope you can spare few minutes of your time :)

Can you open this post and write a comment: "I nominate @crypto.piotr and @help.venezuela?

We've a chance to win 20k delegation (for 1 year) and I hope I can count on your support.

If this link is taking to long to open, then try other one: https://steemit.com/dpoll/@crypto.piotr/re-theycallmedan-20k-steem-delegation-poll-20190218t101355371z

I would appreciate :)
Piotr

$0.00

sfcq240788 (56) · 6 years ago

thank you my friend, i need to read more about it, as soon i read the all document i will share my oppinion

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ambr.global (50) · 6 years ago

Here in Amsterdam the hosuing prices already sky rocket, which is a very bad thing. They simply don't build enough houses! How I would do it, crowd investing, give away tokens, then sell or rent the house to someone. Sale price = divided among investors who hold tokens. Rent = divided among investors who hold tokens, on a monthly base (simply when the rent has been paid). This would make it interesting for me :D

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wakeupkitty (75) · 6 years ago

Still you need to pay a lot of taxes for the property you own, the rent you get is your income so taxes again... where is the benefit?

As I understand the city of Amsterdam is even forcing owner of houses to rent their houses to "refugees" if they like it or not.
If the city takes your property because you refuse to agree with it... you really think there is some benefit in it for you? Everything is registered.

Posted using Partiko Android

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https://steemit.com/dpoll/@theycallmedan/20k-steem-delegation-poll

crypto.piotr (70) · 6 years ago

Dear @ambr.global

Thank you for sharing your thoughts on this particular topic. Seriously appreciate it.

ps.
I NEED YOUR HELP :) Nothing serious really. But I still hope you can spare few minutes of your time :)

I found out about great contest where winning community can receive a year's delegation worth of 20k SP!

I know that it's probably a long shot and most likely our community won't stand a chance in this contest. But I love being the underdog! Let's give them a fair fight :)

This is just a first round attempt. I hope we can make it to second round hahha :) Naturally I would appreciate if you could ask your friends to help with our little "quest" :)

Let me know what you think? Perhaps you can also share some advises and hopefully we can "do little bit of brainstorming". Would be awesome to win :)

Yours
Piotr

$0.00

ajongcrypto (63) · 6 years ago

Hi @creativeblue and @ulqu3

First of all I would like to congratulate you guys for the presentation of this article. It is very professional, eye-catching and interesting.

Personally, I am a big fan of tokenization in general and I like the idea behind the initiative of BrickBlock.

Where I reside, there are many land related issues that sometimes lead to even murder and tokenization can go a long way to solve this situation.

One thing that remains unclear is how the legal framework will be integrated into the Real Estate investment.

I don't think we can integrate the legal Framework in to the blockchain, rather information from the blockchain will be used as evidence in land disputes.

I think some governments will embrace tokenization and I remember clearly that the Kenyan government is already using blockchain for real estate agreements.
I believe tokenizing real estate properties will give more confidence to me as the owner as it is always possible that someone can wake up one day and claim ownership to them. Also, it removes fear from anyone who may want to buy them.
I don't see any use case that has been overlooked!

Thank you once again for the great write up!

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dima772089 (10) · 6 years ago

crypto-currencies are the future, and no matter how some States resist, eventually part of the financial market will move to the crypto-currency and the percentage will only grow. States understand that they can not control the cryptocurrency and will not be able to make a profit from them and therefore try to fight. As soon as you can just pay for the crypt then Fiat will collapse.

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whatsontrend (60) · 6 years ago

Resteemed, Upvoted and Followed 😊

Keep Posting Great Content 👍

Recommended by: Piotr

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kaustuv (25) · 3 years ago

That's a great article on documentation and future of decentralization. But i use https://e-signindia.com/ found it really cheap and reliable to use.

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kaustuv (25) · 3 years ago

That is a great article on decentralization. I have been using https://e-signindia.com/. Although i know it's centralized, it is pretty cheap and reliable.

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dmilliz (68) · 6 years ago

I think it’s s good idea especially as it relates to investing in reits. hmm I love the idea of buying realestate in Tokyo from Manhattan . The government should back this for sure. In Jamaica I have seen labs takes from people who have been there for years but a corrupt individual who can produce a false title grabs it up and puts them on the street even though their great great grand parents owned the land.

Posted using Partiko iOS

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https://steemit.com/dpoll/@theycallmedan/20k-steem-delegation-poll

crypto.piotr (70) · 6 years ago

Dear @dmilliz

Thank you for sharing your thoughts on this particular topic. Seriously appreciate it.

ps.
I NEED YOUR HELP :) Nothing serious really. But I still hope you can spare few minutes of your time :)

I found out about great contest where winning community can receive a year's delegation worth of 20k SP!

I know that it's probably a long shot and most likely our community won't stand a chance in this contest. But I love being the underdog! Let's give them a fair fight :)

This is just a first round attempt. I hope we can make it to second round hahha :) Naturally I would appreciate if you could ask your friends to help with our little "quest" :)

Let me know what you think? Perhaps you can also share some advises and hopefully we can "do little bit of brainstorming". Would be awesome to win :)

Yours
Piotr

$0.00

safetony (47) · 6 years ago

I think the tokenisation of real estate is going to happen in some shape or another as a lot of network such as Neo and Nem have been created for exactly this situation. Blockchain gives us a public and transparent record of ownership and is a really good use case. How long is it going to take would be my question as I think it's already in progress.

$0.00

https://steemit.com/dpoll/@theycallmedan/20k-steem-delegation-poll

crypto.piotr (70) · 6 years ago

It's me again @safetony.

Thx for your previous comment. I always appreciate the fact that you're so very supportive and reponsive. Respect for that.

ps.
I really could use YOUR HELP :) Nothing serious really. But I still hope you can spare few minutes of your time :)

Can you open this post and write a comment: "I nominate @crypto.piotr and @help.venezuela?

We've a chance to win 20k delegation (for 1 year) and I hope I can count on your support.

If this link is taking to long to open, then try other one: https://steemit.com/dpoll/@crypto.piotr/re-theycallmedan-20k-steem-delegation-poll-20190218t101355371z

I would appreciate :)
Piotr

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andyjem (55) · 6 years ago

On the surface this sounds like a really good idea but the practicality could be disastrous if applied to dweelings or homes. The biggest problem facing particularly the western world is lack of housing and homelessness. Before housing became an investment and a house was a place to live and there were plenty of government run social housing schemes, the people with money invested in the building companies themselves... So.maybe we should be looking into using this system to provide more housing that could then be rented out and thus provide a return. I see no problem with the system being used to invest in infrastructure, offices and facrories etc. But not in places that people need for shelter. Enough of this goes on at present with the wealthy investing in property that is then left empty only to be sold off to another invester at a later date for profit. Whilst some poor person spends another winter sleeping on a park bench. So in conclusion... Lets use this idea to make peoples lives better not worse. Lets get crypto a good rep. For a change. 😎😎

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masterthematrix (60) · 6 years ago (edited)

So average Joe should get the opportunity to invest in a peace of land in Japan?
Ok. lets think about that seriously, when people failed to do their research in the ICO phase how would they survive the new Tokenization of the real estate market?
This makes up more room for fraud investments and misplacement of capital. There is a reason why the real estate market needs to be analysed and researched by professionals and should not be traded by armatures like Bitcoins.
If regulations on this investment would do anything for investors, than only approving those businesses who where willing to pay the legal fees so only big players profit. What doesn't mean that the average joe investor will get a better deal in Japan, Mumbai and London.
In my opinion the whole narrative about regulations and protection of investors comes down to education. There is no guarantee for not being screwed on a legal investment. Like always in life when you know what you are doing than you have a good chance of making profit. And if you don't understand this market than STO and Real Estate Tokens will bring you no good.

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https://steemit.com/dpoll/@theycallmedan/20k-steem-delegation-poll

crypto.piotr (70) · 6 years ago

Dear @masterthematrix

Thank you for sharing your thoughts on this particular topic. Seriously appreciate it.

ps.
I NEED YOUR HELP :) Nothing serious really. But I still hope you can spare few minutes of your time :)

I found out about great contest where winning community can receive a year's delegation worth of 20k SP!

I know that it's probably a long shot and most likely our community won't stand a chance in this contest. But I love being the underdog! Let's give them a fair fight :)

This is just a first round attempt. I hope we can make it to second round hahha :) Naturally I would appreciate if you could ask your friends to help with our little "quest" :)

Let me know what you think? Perhaps you can also share some advises and hopefully we can "do little bit of brainstorming". Would be awesome to win :)

Yours
Piotr

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manoldonchev (69) · 6 years ago (edited)

I think government support of this is generations away. The question is how long a generation is and when does it change. Steps needed before that?

Which are the factors that identify the deal as legal? Authorities must recognize it as such, no?

Those are my first thoughts as a newcomer.

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fitinfun (71) · 6 years ago

I'm coming to your post at the invitation of @crypto.piotr

What do you think about the tokenization of Real Estate?

I am not sure. I do not think I understand the concept.

Do you think it is something that the government would support?

No. They want to maintain control.

How do you think tokenizing a piece of land you own would benefit/hinder you?

I would not be a consumer of this because I do not plan to or want to own any land.

What Use Cases can you see that may have been overlooked?

I am not sure. I hang on by a thread of understanding in all things blockchain and crypto. I deal in the steem currencies and a few others since I got here, but I really have little understanding about any of it.

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worldfinances (61) · 6 years ago

maybe this will help a bit :

Proof of Book: Collect Book Tokens!

hobo.media (64) · 6 years ago

This is an interesting topic, because there are some serious issues involved with tokenizing real estate. You kind of already pointed it out, but a key issue with tokenizing land is regional governments.

Blockchain was meant to change financial sovereignty from governments back to individuals in the way economics use to be back when everything was based on gold and other precious metals. Most of us in crypto are in crypto because we view this as a human right.

Land is a very different story. Governments will struggle to control cryptocurrencies, but tokenized real estate would be pretty easy to control and regulate. You can tokenize it all you want, but the local government will easily be able to ignore your rights and physically prevent you from enjoying the use of that land.

For this reason, tokenized real estate will probably happen but be completely regulated and controlled by the government of that specific location. There will likely be many limitations put on international trading of land, and so render real estate tokens nothing more than an effective deed for the land. Useful, but not a mind-blowing accomplishment.

I do believe there are benefits, but I am not as excited by security tokens (which I believe ought to be called tokenized securities to be accurate) as some are. The reason is that tokenization of gold, silver, property, corporate stocks and bonds does solve some issues, but those issues are relatively minor problems. The real ground-breaking achievement of tokens is giving a sense of material substance of non-material things such as data and digital products, and also to empower the lower and middle incomes to participate in exciting new things.

A perfect example of a good use for tokens is in books. The @hobo.media project aims to tokenize e-books and e-magazines. You can learn more about that here:

Now, as for great uses for tokens attached to physical items, while things like gold and real estate are not things I think work well, what I think are great uses are cars, boats, airplanes, gym keys, or any kind of key, club memberships such as tokens on shared items like high priced dresses, jewelry, tuxedos and sports event tickets.

Tokens should be very useful in real estate for things like time-shares, but again, my concern is actual ownership, because governments will definitely get in the way. For example, foreigners cannot have 100% ownership of a property or business in the Philippines, and that reduces the usefulness of having an international token in the marketplace.

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sternblitz (51) · 6 years ago

Although I unfortunately do not know enough about this subject, that is the digitization of goods (real estate, etc.), I of course support the fact that the cryptocurrencies remain accessible to all people and remain as decentralized and anonymous as possible! Therefore an upvote from me!

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lanzjoseg (74) · 6 years ago

Dear @ulqu3 and @everyone

Well, from my point of view, unquestionably, trust is very necessary.
One of the main things to know is who and who are the investors.
As my grandfather would say, "Money is not anyone's friend" although we are talking about this issue, all of them end up being money, and what is the end of an investor, only recovering their investment with a good return on investment.

It is a very good idea that is plated, but a concern is also born, and we all know the winners will always be those who have more to invest, it is a rule that is always fulfilled.

We just have to find a way to invest and then harvest is the result of that investment.

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happyme (68) · 6 years ago

Like some of the others who have already stated their opinion, I concur that buying real-estate with crypto is no different than buying with fiat.

I have quite a lot of experience with real-estate and I can tell you that buying sight-unseen is a huge risk. There is less risk in purchasing bare land, but then it would be simply a speculative purchase. In order to realize gains, the land would need to be USED for some purpose. Bare land could be farmed, but that is also a risky proposition. The absentee owners are surely not going to be doing the farming! How are you, as an investor, going to confirm what crops were grown and how much profit was made from those crops?

The same principals apply to land with buildings on them: Who is going to manage said buildings and HOW are they managing it? How much of the profit are the managers skimming off the top? Are they managing it well or allowing the building to decay? I've always maintained that nobody cares about your money as much as you do; so it is up to you to look after your investments yourself.

The above refers to investments that would be owned by multiple parties.

Now, there could be a situation where ONE entity or individual purchases a property and crowd-funds for that purchase. In that case, it would be foolish to invest in anything but a fixed-return on investment. Basically, lending money with interest. Even then, bankruptcy is not out of the question. However, if you are willing to take the risk, foreign investors could lend money in an unconventional manner via crypto's.

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caribehub (50) · 6 years ago

hi @creativeblue. As an Investment we have to see if the tokenized asset makes profit.

on the other hand, i can't use the physical asset if i own part of it, unless there is something like share time.

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caribehub (50) · 6 years ago

Goverment Will easily confiscate your asset if you owe taxes or you become a "threat" for them. Banks will easily take the property if you have not paid the loan. or you can be restricted to buy certain assets.

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https://steemit.com/dpoll/@theycallmedan/20k-steem-delegation-poll

crypto.piotr (70) · 6 years ago

It's me again @caribehub

Thx for your previous comment. I always appreciate the fact that you're so very supportive and reponsive. Respect for that.

ps.
I really could use YOUR HELP :) Nothing serious really. But I still hope you can spare few minutes of your time :)

Can you open this post and write a comment: "I nominate @crypto.piotr and @help.venezuela?

We've a chance to win 20k delegation (for 1 year) and I hope I can count on your support.

If this link is taking to long to open, then try other one: https://steemit.com/dpoll/@crypto.piotr/re-theycallmedan-20k-steem-delegation-poll-20190218t101355371z

I would appreciate :)
Piotr

$0.00

wakeupkitty (75) · 6 years ago

Land/property is registrated at the cadastre (land register). No matter if I sell it for euro, pounds, ETC or give it away it will always stay my property till the registration is changed.
So certain people or agencies, lawyers or notary are needed to do so and give the new owner the "title deeds".

As far as I know this is the same everywhere and bills need to be payed. As long as bureaucracy exist and there are governments who raise taxes over taxes there is no benefit at all.

An income stays income so taxes need to be payed.

It might be an other way of paying but that is all there is.

If it comes to buying property abroad it can even be more tricky. The one who sells can not be the only owner at all so if you pay your money is lost and no property at all just costs...
Also not every country allows foreigners to buy land or there is a max plus there will be an announcement if someone likes to do so, so people in the village/neighbours can put a complain against that.

Imagine I can buy some land/property in Tokyo?
If I want to do so and it is allowed for a foreigner to do so I already can if I have the money.

Better also keep in mind that buying property abroad is seldom as easy as it sounds plus the (a new government) can take the property away from you if...

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cryptouno (64) · 6 years ago

Since Brickblock provides legal framework for digital real estate it is a good way for a developer to get funding for their projects. This also can make deeds immutable for property owners. Keeping real estate records on a distributed ledger is a good alternative than placing trust in one central entity. This is a good service for today's digital generation.

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https://steemit.com/dpoll/@theycallmedan/20k-steem-delegation-poll

crypto.piotr (70) · 6 years ago

Dear @cryptouno

Thank you for sharing your thoughts on this particular topic. Seriously appreciate it.

ps.
I NEED YOUR HELP :) Nothing serious really. But I still hope you can spare few minutes of your time :)

I found out about great contest where winning community can receive a year's delegation worth of 20k SP!

I know that it's probably a long shot and most likely our community won't stand a chance in this contest. But I love being the underdog! Let's give them a fair fight :)

This is just a first round attempt. I hope we can make it to second round hahha :) Naturally I would appreciate if you could ask your friends to help with our little "quest" :)

Let me know what you think? Perhaps you can also share some advises and hopefully we can "do little bit of brainstorming". Would be awesome to win :)

Yours
Piotr

$0.00

edgarare1 (69) · 6 years ago

Hello @creativeblue nice to read your article..

Considering that the Blockchain is the one that dominates the financial system, and there would be no more intermediaries, this could be something really interesting for investors and entrepreneurs.

The process of buying a building or land must be considered that in order to make a transaction, the seller or landlord must first register it within the blockchain system to be registered. People who are interested in buying or leasing should make a first proposal, and as this will be transparent it will only be between the owner of the property and the buyer or landlord.

We could think that at the moment of being able to make a transaction within the blockchain and buy a property in a different country, we will be free to do what we want with it, since the future of the blockchain is that there are no intermediaries and nobody puts more obstacles .

The rulers will stop being a hindrance, politicians can not get their hands on the blockchain issues, we have seen that most governments are not a support for the blockchain since they only think about their personal interests and not about the others.

I know @crypto.piotr you right...!!!

In my opinion we will witness even more empty appartments, which are being nothing but investment. At the same time prices in prime locations will increase most likely to the point that REGULAR JOE will completely not be able to afford.
I think that inequality in those prime locations and living standards will change immensly.

I agree with you, But we know that everything will be change and right now nothing is cheap, So. Everything will be the same but in a world of cryptocurrency an blockchain system...!!!

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jenina619 (69) · 6 years ago

Interesting article

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guruvaj (57) · 6 years ago

First of all, thank you to @crypto.piotr for sharing me this article.

My two satoshi worth opinion:

When currency was being decentralized in the case of bitcoin, which now looks more like/behave like a company stocks, rather than used as a mainstream digital currency. Privacy and government interference is definitely a No-No.

But in terms of real estate assets, I would like more government regulations and monitoring should be put in-place first. Physical assets to be tokenized is a good thing, but certain restrictions compliant to government laws should be considered.

I dont want to wake up one morning that my tokenized house is being owned by somebody just because he has hacked into a decentralized land title ownership website.

As we include cryptos deeper into our life, certain restrictions and exclusion should be established.

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chekohler (70) · 6 years ago

I do believe in tokenizing real estate as it gives us an immutable record of property transfers and we can also look at which areas are overinflated and which are undervalued.

I think what will hinder the processes is migrating records on to the blockchain, many people, estate agents and banks are not going to provide some open source platform with these records and if it's a voluntary submission I doubt very few homeowners will do it.

I think governments would support it if you can produce a security factor and a source of revenue for the countries coffers. Since this would make private sales easier and elimate 3rd parties I think institutes will feel too threatened.

Its a good idea but its a huge step and shift in thinking that people aren't ready for. Lets focus on getting digital assets working at scale before we think of augmenting physical with digital

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lanceman (53) · 6 years ago (edited)

The world of crypto can certainly be a *Huck'L'buck at times to muddle yur way thru....for us crypto~dummies out here anyway! I guess my Q would be....by 'regulation' do you mean a degree of centralization? As that would seem to defeat tha crypto~purpose....I am not sure anything can sto the banks from controlling blockchain technology, but whut do I kno'!
~Weeeeeee!~

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junnel123 (50) · 6 years ago

What do you think about the tokenization of Real Estate?
It is like a plant that grow beautiful with help of each other but as a plant it is also sensitive in many ways.
Do you think it is something that the government would support?
Maybe, because goverment power are influence by its citizens majority agreement and the beneficial it can give to the community.
How do you think tokenizing a piece of land you own would benefit/hinder you?
Each property you can either make you rich or struggle. Many Property are being sold because it is too hard to handle and Some Property are becoming bigger, especially for wise and smart business owners.
What Use Cases can you see that may have been overlooked?
It is the word "Invest and recieve a bigger income". Because investments must have its right way in dealing transactions. Most investors are victim of scam and some looses money because the business he/she invested is not going well.

Alerted By @crypto.piotr .
Nice Topic @creativeblue

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jadams2k18 (64) · 6 years ago

Greetings my great friend @crypto.pioter, long time not see

I guess that tokenize a piece of land is like what William J. Howey did in the 1930s, who decided to divide the orange orchard into sections and sell the portions to buyers or investors, who had the option of growing oranges in that portion of land or lease the portion to Howey and get benefits from the orange harvests.

I guess it's the same principle. Ideas are always recycled. Obviously, Howey did not do well since the SEC intervened and ruined his business. But the principle is valid.

And if it is supported by the blockchain technology is even more secure, not only because it is indelible and unalterable but also allows the token can be subdivided which means that prices can be set to the goods in a very precise and can be paid easily for those goods with a very precise change. STO could lead to a new way of crypto.

I think that in this way both investors or buyers of tokens and landlords could benefit.

In an ideal world it would be great, however, this mechanism can lead to scams and frauds or dishonest scheme.

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marvyinnovation (51) · 6 years ago (edited)

Hi @creativeblue,

A complicated topic beautifully explained, really an eye-opener this blog post is!

Albeit the benefits outweigh the disadvantages, this tokenization will never become a reality but for the following reasons.

High security.
Decentralization.
Low transaction fees.

These factors maybe advantageous to us, but will not go hand in hand with the government policies and hence this tokenization will be left in the lurch.

Adding to the woes are the recent crypto scams, which are becoming stumbling blocks to the blockchain technology. The setback came from India with the country declaring crypto as non-legal tender and if more and more countries follow suit, nothing can be done, but at the same time this also will not happen immediately.

The concept of decentralization unplugs the control a country has on its general public in the financial perspective and the very same factor that happened to be our advantage became the government's disadvantage!

Let's hope that better times will come for crypto thereby creating a smooth passage for the tokenization of real estate.

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shaheerbari (60) · 6 years ago

The tokenization of property or an asset is a very good step in the stability of the token but at the same time will it give the huge amount of profits crypto have given people, because if iy is backed up by a physical asset the price of that asset won't fluctuate that easily butvat the same tine won't even moon. It would be great to get people who don't beleive in the technological aspect of the crypto world to invest in a physical asset.

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wilhb81 (76) · 6 years ago

Brilliant ideas and concepts - hope this one will stand out from the crowd @creativeblue !!!

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alokkumar121 (76) · 6 years ago

Hi @creativeblue i have gone through this post and noticed about few things.

I agree Crypto cannot be banned because in coming future it will help technology to grow and improve the payment system.

Since banning is not feasible so regulations has to be in place to protect investor for loss and countries are exploring this which is a good news.

This real estate tokenization look interesting for me. I heard about it for the first time buy for me it looks nice and full of potential.

Thanks @crypto.piotr for sharing this nice post.

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jbgarrison72 (49) · 6 years ago

Is the utility of this tokenization pretty much limited to items for which ownership requires "legal" contracts and deeds to prove such?

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steemitboard (66) · 5 years ago

Congratulations @creativeblue! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

_{You can view your badges on your Steem Board and compare to others on the Steem Ranking}

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

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khussan (54) · 6 years ago

Tokenizing real things seems cool however i do not think that goverments will be fond of it as for some reason they just don't like crypto

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