Real Estate trifft auf Blockchain: Chancen und Herausforderungen der Tokenisierung von illiquiden Vermögenswerten

Berentsen, Aleksander and Markheim, Marina (2020): Real Estate trifft auf Blockchain: Chancen und Herausforderungen der Tokenisierung von illiquiden Vermögenswerten.

Abstract

This article analyses the opportunities and challenges of tokenization of real estate. First, the theoretical foundations (Blockchain and Smart Contracts) as well as the advantages and disadvantages of tokenization are discussed. The implementation of tokenization of a real estate is then illustrated by means of a practical example. The advantages of tokenization are the immediate worldwide trading of tokens 24/7, the transfer of ownership of the tokens in "real time", standardization with simultaneous flexibility, transparency and security in the trading of tokens. The technical implementation of the tokenization of a property is very simple. Regulatory uncertainties, however, currently still limit a broad application of the technology.

• Item Type: MPRA Paper
• English Title: Real Estate meets Blockchain Opportunities and Challenges of tokenization of illiquid Assets
• Language: German
• Keywords: block chain technology, smart contracts, tokenization of real estate and regulation of tokens
• Subjects: G - Financial Economics > G0 - General; K - Law and Economics > K0 - General > K00 - General; R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location > R30 - General

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