Cryptocurrency

Building is sold in Switzerland using Blockchain

A building in Zurich, Switzerland, managed to tokenizarse with success and sold using the technology Blockchain. The real estate investment firm switzerland, BrickMark, is the new owner of the building, which is located in a famous area of the city. The company issued cryptographic tokens backed by bonds which, in a figurative sense, represent “shares” of ownership of the building. In this way, other people can acquire these tokens and be the equivalent of a “shareholder” of the property. However, currently these tokens are only available to accredited professionals in institutional investment. In addition, the target audience are professionals in the sector who wish to save part of the rental income of the building. This to then be able to benefit from any increase in the value of the property. But, why this building is so important? The reason lies in that it is located in a strategic area. Not only is located in a street famous at Switzerland, Bahnhofstrasse, but that is in a district retail of high demand. In addition, this area is home to various sales offices and a point of sale of Swatch, the famous brand of watches swiss. The former owner of the building, the company RFR Holding, shall not be withdrawn completely for now. According to the deal reached by both parties, RFR will retain a portion of the property and will receive 20% of the total supply of tokens BrickMark belonging to the building. This means that the former owner will retain a significant interest in the building and will collect passive income from it in the future.

Blockchain in the real estate sector

The most interesting thing about this purchase is that it was made using technology Blockchain. Although in its infancy it was thought that the chain of blocks could only be used to work with Bitcoin, today it is known that its potential goes far beyond that. For this reason. BrickMark believes that the purchase of real estate in Switzerland driven by Blockchain, it is only the first step to something much bigger. Their final aim is to build a large real estate business driven by the chain blocks. According to their calculations, this could be worth a lot more than $ 134 million. For now it only has a building in his possession. But what is considered the start of this great project, which seeks to promote the use of the technology of chain blocks in the real estate sector. It is important to remember that the Blockchain is employed in many other industries, obtaining excellent results. In fact, LinkedIn is regarded as the skill most prized for this 2020. The following two tabs change content below. I am a student of International Studies, interested in new technologies and their impact on the world. A true believer that tenacity is the foundation of success.

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About the author

Caroline W.

Caroline W.

Caroline is passionate about learning languages, cultures and the Internet. She has years of experience working at international online advertising projects. Growing interested in Bitcoin and cryptocurrencies in late 2018, she joined CurrencyMarket24 as a writer.

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