A naukri.com initiative
Crypto-News-Flash
2d
39
Image Credit: Crypto-News-Flash
VeChain Builds the Backbone for Tokenized Real Estate With Magma and DTT Tech
- VeChain, through partnerships with Magma and DTT technology, is revolutionizing real estate transactions by replacing slow paperwork with digital contracts, ensuring faster and cleaner deals.
- The collaboration aims to bring transparency and efficiency to tokenized property deals, providing verifiable records and global compliance.
- VeChain's technology streamlines the paper-based processes prevalent in the real estate industry, making transactions faster and more transparent.
- The platform's global compliance and on-chain verification strengths position it as a reliable choice for managing real-world assets like property, ensuring data security and regulatory compliance.
- Magma, in partnership with VeChain, is introducing blockchain solutions to replace manual processes in real estate workflows, aligning with the industry's shift toward digital tools.
- VeChain previously tested blockchain in real estate in 2018, demonstrating the linkage of physical assets to digital tokens, facilitating smart-city developments and tracking energy use and green buildings.
- VeChain collaborated with Supply@Me to tokenize warehouse receipts and inventory in mid-2022, using blockchain technology, NFTs, and DeFi tools to enable fractional ownership of physical goods, a model now applied to real estate investments.
- In July 2024, VeChain initiated a project in Albania with Magma and T-Blocks to digitize the construction process, offering clear and tamper-proof records to investors, boosting confidence in cross-border property deals.
- VeChain's tools like NFC/RFID tracking, smart contracts, and energy-efficient ledgers enhance compliance, cut costs, and enable fractional ownership, positioning VeChain strongly in the realm of tokenizing real-world assets.
- Analysts project significant growth in tokenized real estate funds and loans, with potential figures reaching $1 trillion and $2.39 trillion by 2035, respectively, showcasing VeChain's contribution to bridging the gap in the real estate sector.
- VeChain's innovative solutions prove blockchain's transformative potential in modernizing real estate markets for improved functionality and efficiency, with a focus on expanding these advancements globally.
Read Full Article
2 Likes
For uninterrupted reading, download the app