The platform of security tokens Overstock tZERO, is allied with the Foundation Tezos to tokenize 500 million pounds. This project will be carried out for the development of the real estate market planned. In accordance with the information provided, tZERO would start with lots of properties financed by the Alliance Investments in the Uk. After this first test, the service will open to the rest of the investors. The company explains that it would distribute a quarterly dividend of 10% of the gross income. However, it also specifies that this is subject to the approval of the board of directors. The CIO of Alliance Investments, Rani Zahr, spoke about it stating that: “Raise funds through a STO is more efficient, cost-effective, autonomous and democratic than traditional financing. We believe that we are at the forefront of a technological change that may alter the paradigm of current funding”.
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tZERO march with a firm step
The startup Blockchain is marching with a firm step to meet your goal. Although the goal is 500 million pounds (about 643 million dollars), tZERO will start issuing tokens for the amount of 20 million pounds in capital. The first offer of the company should be submitted in the first quarter of 2020. For his part, the chief financial officer of the Foundation Tezos, Roman Schnider, spoke regarding this co-operation project: “This building is a great development of multi storage, is the first for the Alliance, but represents a large portfolio that intended to finance using STO (offers of security token)”. It is expected that this protocol shows other real estate developments that will be converted into tokens in the course of several years. The companies said that they would include residential accommodation for students, as well as commercial properties and hospitality.In addition, the financial consultant Megalodon has been chosen as advisor for the project. On the other hand, Sawm, Noursalehi, CEO of the company, considered the initiative as a milestone in the democratization of the sector. “After the first anniversary of the closing of our offering of tokens of values, non-accredited investors now have the ability to buy and trade with our safety data. Today marks another milestone in the democratization of access to all investors, regardless of their net worth, can invest in the business opportunity of a capital market based on Blockchain”. Despite the fact that there is a lot of buzz around this initiative, you must wait until 2020 to test the true effectiveness of the project led by the ally of Tezos. 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.