1) Telos will tokenize $35 million of Croatian seafront real estate

2) Aspen launches on tZERO amid record security token volume

Reading Notes

Telos will tokenize $35 million of Croatian seafront real estate

“We are at the dawn of tokenization revolutionizing the real estate industry.”

Telos has announced that it would be working with Dapp development platform Katalyo to tokenize $35M worth of Croatian properties.

Telos — one of the most active blockchains in the world in terms of transactions — said Katalyo would be issuing two tokens for each participating seaside property. One token would represent ownership of the real estate, and the second would be a fiat-based stablecoin generated from rental revenue.

Telos is a smart contract platform that supports the creation of decentralized applications and decentralized autonomous organizations running on EOSIO, the software underlying the EOS blockchain. It is the second most active blockchain according to Blocktivity, with more than four million users over the last 24 hours.

Aspen launches on tZERO amid record security token volume

An important step toward unlocking liquidity to quality real estate projects, which has the potential to open the door to a $6 trillion commercial real estate market.

Digitizing and trading private securities like Aspen will be the future model that will enable broader investor access, provide liquidity optionality, and reduce cost of capital.

Aspen (ASPD), the security token representing fractional ownership in the St. Regis Aspen Resort — a five-star 179-room hotel in Colorado, has commenced trading on the tZERO alternative trading system.

Elevated Returns plans to tokenize a further $1 billion worth of real estate projects using Tezos’ FA1.2 smart contract standard in the future.

July was also a particularly strong month for real estate tokens, with the nine property tokens traded on RealT’s secondary markets posting gains of between 7% and 35%.

https://cointelegraph.com/news/aspen-launches-on-tzero-amid-record-security-token-volume

The post Real Estates Tokenization appeared first on Blockchain Insider.

1. Real Estate Blockchain Firm Ubitquity to Build Tokenized Title Platform

2. Mobile DeFi and the Shift Toward Self-Sovereignty

3. Russia Is Set to Create a New Regime for Tokenized Securities

4. Title Token for Blockchain Estate Registry, Part 3

Reading Notes

Real Estate Blockchain Firm Ubitquity to Build Tokenized Title Platform

• Having tokens represent a property, along with records of conveyance stored on a blockchain, creates “huge efficiencies for the abstract process.”
• With the technology closing agents can better avoid fraud since there is only a single source of truth and reconciliation is no longer needed.

Mobile DeFi and the Shift Toward Self-Sovereignty

• Many speculate that mainstream adoption of cryptocurrency is dependent solely on improving ease of access and user experience. In reality, there’s an even bigger obstacle: a mentality shift.
• Self-sovereignty and personal autonomy are the endgame of this technology, and with that goal comes a significant increase in personal responsibility for one’s funds.
• The legacy system takes away your autonomy and replaces it with convenience, offering useful tools related to fraud protection and password management. By comparison, cryptocurrencies, decentralized finance and other forms of distributed technology fall on the other end of that spectrum, providing the ability to have true ownership of one’s worth.
• The liberating elements of crypto and financial freedom are promising but intimidating since security is passed from the hands of a third party directly into the hands of the consumer.
• Crypto, DeFi and decentralized applications promise to fulfill the original vision of our connected future, in which users could retain absolute ownership of their funds as they transacted in a global market.
• The key here is offering familiar experiences in line with best practices in crypto security so that the difficult but absolutely necessary shift in mentality is made more palatable.
• The decision to be personally responsible for one’s own wealth should be a burden of diligence, not of exhausting learning experiences.

Russia Is Set to Create a New Regime for Tokenized Securities

• According to the new (Russian) law, digital financial assets, or DFAs, represent digital rights, including monetary claims, the possibility of exercising rights under issuable securities, the right to participate in the capital of a nonpublic joint-stock company, and the right to demand the transfer of issuable securities.
• In a broad sense, this means that DFAs are tokenized securities.
• Basically, the new Russian law regulates the issuance, turnover and offering of tokenized assets.
• DFAs can be only issued on licensed issuance platforms that are operating in full compliance with incredibly strict regulations.
• It’s ironic that with all this time spent to create crypto regulation, there is no crypto regulation. However, Russian legislators managed to create a clear approach to the regulation of tokenized securities.

Title Token for Blockchain Estate Registry, Part 3

• Discussing cross-blockchain protocol that enables the use of ledgers in an interoperable bundle.
• The protocol works as an aggregator of tokens across blockchains.
• The resulting representation of the collected tokens is a logical superstructure across many blockchains — the public registry.
• A government agency, for example, doesn’t exclusively own one public property database, but it literally lives on every user’s machine in the cross-blockchain database.
• A component of governance to address legal issues and enforce lawful decisions – in Title Token for Blockchain Estate Registry, Part 2
• Three fundamental principles for decentralization: Technological pluralism. Technological neutrality. Blockchain agnostic.
• There must be verified digital identities, but without exposing personal data on-chain at the same time. And the answer to that is the combination of old and new technologies.
• Blockchain technology is the perfect solution to develop a new generation of public key infrastructure (PKIs). Think about public certificates as tokens. Similar to creating tokens (certificates) of property, we can also create tokens to certify our identity. If you lose your private key, you will need to contact your certificate authority and ask to update its token of your identitiy (certificate) as invalid.
• To reduce the risks of leaks of personal data from centralized servers, we should use self-sovereign identities.
• Credible public blockchains provide immutable ledgers, which, contrary to traditionally state-owned property registries, enable users to perform peer-to-peer transactions.
• However, blockchains do not require any public agency to maintain the infrastructure, as public ledgers are self-governed.

Title tokens are records that represent legal rights. They are validated on-chain by those whom we trust and delegate this right.

• Contrary to the centralized system, ledgers require everything to be recorded on-chain publicly to take effect, and they do not alter recorded transactions. So, on-chain governance is transparent and accountable.
• This concept can be piloted step-by-step and run parallel to the existing system of public registries.
• The shift will happen when the government that wants to benefit from innovations recognizes the right of citizens to choose between a traditional registry and a blockchain, and it is a fundamental right for the decentralization of governance.

The post ROTD: Tokenized Title Platform, Self-Sovereignty, Tokenized Securities, Title Token for Blockchain Estate Registry appeared first on Blockchain Insider.

Headlines

1) Title Token for Blockchain Estate Registry, Part 1

2) Title Token for Blockchain Estate Registry, Part 2

3) Tokenized Real Estate Hasn’t Lived Up to the Hype: Property Researcher

4) Noncustodial Technology and Security Is the Inevitable Future

Reading Notes

1) Title Token for Blockchain Estate Registry, Part 1

Notes on ROTD: Tokenizing Real Estates & Financial Inclusion

2) Title Token for Blockchain Estate Registry, Part 2

The title token is not “backed” with real property; this is the record that directly certifies the property right — the same as paper title deeds, or certificate of ownership, etc. It is a digital form of property record and the primary source of knowledge about property rights, which means no paper form is needed.

The title token can represent any legal rights: immovable property (land and buildings), movable (car, boats, aircraft, etc.), corporate rights (shares), and various property rights and derivatives (mortgage, debts and securities). Any legal right, can be used to certify legal facts and events.

To enable blockchain technology to replace the traditional registries, the state machine requires reforms.

Now, states monopolistically own and run public registries. Alternative registries can be enabled through new regulations, technical standards and government supervision to ensure compliance.

Those who are happy with traditional registries and bureaucracy can stay with these, but those who want to use the full power of blockchain, smart contracts and decentralized applications can transfer their records from the centralized database to any ledger.

A blockchain as a repository of evidence does not need a third party to maintain it, but we still need third parties to certify various facts of our life.

Cross Reference is a basic protocol to maintain the validity of records.

In a more general scheme, cross-referencing is a method of providing status records by trusted third parties that have knowledge about legal facts and events. The blockchain doesn’t make them valid, but the authority that certifies the fact. Blockchain technology just has a better infrastructure for this system to make sure these records are uncorrupted.

The ledger immutability is not a problem; it is just a matter of better application design.

Due to no censorship, any junk data is possible on public blockchains. So, the validity here is provided by the traditional trusted parties through cross-referencing. Though their acts are not hidden as in any state-owned database, they are transparent and, hence, accountable. With cross-reference, it is possible to address not only the loss of private keys but legal disputes and various procedures for obtaining permits from the government agencies.

Digital authorities and digital dictatorship

To eliminate dead-end situations when neither party has access to their records, there is a root record, which can issue patches to the system.

We need patches to filter out those records that aren’t relevant or illegal.

The root can belong to a court. There might be multiple roots based on branches of power (legislative, executive, judicial), and of course, the root can be controlled collectively through a multi-signature scheme — to make sure that those who have a mandate of power make lawful decisions.

Eventually, we will likely see the system of a direct e-voting (e-referendum) where not only the representatives of a collective body (council, parliament, committee) make transactions but all the citizens of a town, a state or a whole country.

The most fundamental thing here is that a digital dictatorship has no chance.

Governance is not a matter of mathematical consensus. The interpretation of records is a layer above blockchains that represents the social consensus. How we decided which root addresses we trust, how and when we reset roots, is a matter of the political system. The only thing that is unchanged is the blockchain. As a public repository it keeps all kinds of records as evidence of everything that happens in the real world.

4) Noncustodial Technology and Security Is the Inevitable Future

Noncustodial Technology and Security Is the Inevitable Future

There’s no doubt noncustodial technology is the future — it’s just a question of when it enters the mainstream.

Making transactions and accounts exponentially safer while simultaneously putting control back into the hands of the users.

Custodial wallets often hold millions of dollars worth of assets on behalf of their customers. The benefit of having full control over your funds is the difference between your account being frozen when you want to make a transaction and being able to freely trade at your own discretion. The key is that the customer is in control.

The freedom and independence ensured by noncustodial technology strike at the heart of the ethos of blockchain: the empowerment of individuals. By decentralizing custody, noncustodial technology proves that greater power can and should reside in the hands of individuals.

The ideal approach to delivering the best outcomes is one that is pragmatic.

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Looking at the headlines:

• World Bank Digs Deeper Into DLT and FinTech for Financial Inclusion
• The Suzhou trial – Digital Yuan Being Tested for a Workers’ Subsidies Scheme
• Aussie Crypto Unicorn Raises $160M With ‘Big Four’ Bank Backing
• The launch of 3iQ’s BTC Fund on TSX
• Berlin Real Estate Worth $12M Tokenized for Everyday Investors
• Akon City, a ‘sustainable eco-tourism smart city’ powered by Blockchain technology in Senegal.

Connecting the dots, the Blockchain’s shift from niche financial tool for techies to the mass adoption of digital currencies is happening into the conventional financial sphere. The interaction (blending or convergence?) of the two monetary worlds seems to be progressing positively.

The recent report by World Bank Group and Bank for International Settlements (BIS) further complement the previous report by BIS as CBDC (Central Bank-Issued Digital Currency) Is Well On Its Way.

Payment Aspects of Financial Inclusion Fintech Wheel by World Bank Group

Worth noting is the PAFI Fintech Wheel in the report.

Jolted below notes related to above mentioned headlines, the power to relate is important in getting the bigger picture.

Click on the respective headline to read the original report.

World Bank Digs Deeper Into DLT and FinTech for Financial Inclusion

The World Bank’s fintech-focused report on financial inclusion is not the organization’s first foray into blockchain and associated emerging technologies.

Among major PAFI tools, the World Bank listed distributed ledger technology (DLT), stablecoins, CBDCs and payment tokenization systems, placing them in line with other fintechs like big data analytics and cloud computing.

Combining several technologies, products and access models, the World Bank drew up the so-called “PAFI fintech wheel” to identify fintech developments that are potentially relevant to the payment aspects of financial inclusion.

In the 70-page report, the bank provided a detailed overview of selected advances in technology that are considered to be the most relevant to payments as well as described their applications and associated risks.

The Suzhou trial – Digital Yuan Being Tested for a Workers’ Subsidies Scheme

This month, agencies and enterprises in the Xiangcheng District of Suzhou will reportedly be paying 50% of local workers’ transport subsidies in the new digital currency (also referred to as DC/EP, for “digital currency/electronic payment”).

These patents indicate that the DC/EP adopts a two-layer architecture and two-tier delivery system, which enables licensed third-party payment institutions or banks to participate in secondary issuance of the digital currency.

… the report notes that the currency’s blockchain structure will ensure “traceability, encryption and supervisability.”

Aussie Crypto Unicorn Raises $160M With ‘Big Four’ Bank Backing

In March 2019, Airwallex received a $1 billion valuation — ranking it as Australia’s second unicorn alongside graphic design firm, Canva. Australia is currently home to three unicorns, with aerial imagery company, Nearmap, recently joining the list.

The launch of 3iQ’s BTC Fund on TSX

The launch of 3iQ’s BTC Fund on TSX was a historic event, to say the least.

The listing of a publicly-traded Bitcoin fund on a major stock exchange will serve as an important milestone for the industry as a whole — especially in regard to crypto being viewed as a legitimate asset class by the global investment community.

Currently trading under the name, “The Bitcoin Fund,” the offering has around 1.5 million Class A “QBTC.U” shares available on the Toronto Stock Exchange, or TSX.

At press time, each share is trading for around $12. The price indexes being used by the fund are from crypto data company CryptoCompare and VanEck Europe subsidiary MV Index Solutions.

3iQ is serving as the fund’s investment and portfolio manager.

The Bitcoin Fund is under the custody of the Winklevoss’ exchange Gemini, and thus Tyler and his brother Cameron are invested in the fund’s success.

TSX is Canada’s premier stock exchange, facilitating more than $97 billion worth of monthly trade.

• customer demand for regulated crypto products has been strong across the investing spectrum — be it the retail or institutional investor market.
• as time goes on, market demand for crypto offerings will increase.
• the demand for an easily accessible, securities-based product delivered through traditional channels.

Berlin Real Estate Worth $12M Tokenized for Everyday Investors

Germany’s Black Manta Capital Partners has launched a security token offering (STO) for Berlin real estate worth more than $12 million.

The project is a collaboration with the German real estate firm Tigris Immobilien and includes around 2000 square metres of real estate in total, mostly comprising individual apartments from 40 to 60 square meters in size. Construction is expected to be complete by 2022 and units will be sold to investors and owner-occupiers.

Token holders will share 20% of the sale profits through securitized participation rights. The company said the tokens will enable ordinary investors “to participate in a profitable real estate project normally reserved for professional investors.”

Minimum investment is just €500 (Fractionization / Fractional Ownership)

Blockchain technology is gaining steam in the real estate market with real estate security tokens now representing half of active security token markets and 15% of total volume.

• new “tokenization services” industry to emerge and the crypto custodian market to grow.
• institutional investors require regulated custodians

Akon City, a ‘sustainable eco-tourism smart city’ powered by Blockchain technology in Senegal

Blockchain’s shift from niche financial tool for techies to the mass adoption of digital currencies.

The celebrity singer famous for his “Lonely” song, is not only embark on lighting a million homes project, but also developing Akon City, a ‘sustainable eco-tourism smart city’ in Senegal.

While those listed above are quite a number of positive progress, some news shouldn’t be overlooked, especially when it concerns custodian services and legistration.

Where on the planet is KuCoin?

Unlike Binance, Coinbase and Ripple, KuCoin did not file with the Monetary Authority of Singapore to request a deferral of the requirement to operate without a payments license. Such deferrals allow those companies to operate as payments service providers without a license through July.

Without a license or a deferral, KuCoin cannot legally operate in Singapore. It remains unclear whether KuCoin is nonetheless operating in Singapore or if the exchange is in fact now operating elsewhere.

The post Financial Inclusion in The Fintech Era appeared first on Blockchain Insider.

Tokenization is the process by which the real asset value of the property is represented digitally on the blockchain in token form.

What problem is Tokenization trying to solve?
Fractional ownership and Liquidity, some over priced and over supply issues perhaps.

How?

Create and mobilize new form of capitals.

Challenges?

Trust. Circulation. Legal.

Bringing Down Borders

If I were to develop a city, and I issue a token which has these 4 characteristic or functions:

1) Security
Token holders entitled to earn certain income or profit sharing for x number of tokens hold over y amount of time.

2) Privileges
For upcoming or in-house projects, token holders entitled to special price or privileges.

3) Utility
Token holders can use their token to pay for services or products under internal environment, such as inter-city spendings.

4) Currency
This token is acceptable by other cities or entity other than the issuer.

Now, tell me what breed of “money” shall we identify this token?

The key is programmable money.

It is good that we have the direction of coming up with technical and policy framework for programmable money first.

Implementation wise, it is do-able technically due to its programmable nature.

Take the analogy of a simplified illustration of daily life of a working male adult:

Early morning as he steps into the office, he will play the role as an employee of the company, where his action will be bound by company rules and (common) work culture.

After office hour, as he transits back from company to home, he would be bound by social etiquette and city rules along the way.

At home, he could be playing the role of a husband, and a father to his children, where family values play the major factor defining the activities he could be carrying.

Condition of a situation may define the role and characteristic of an entity, thus resulting in the activities and produce the consequences.

Quantum elements exist in the thought process.

Presentation slides used:

Follow up news:

It is interesting to note that one of Malaysia’s initiative is featured in one of Coin Telegraphs report on Municipal Crypto.

A Mechanism To Fund Certain Projects

States, provinces and municipalities could use cryptocurrencies to fund projects and programs. Municipal cryptocurrencies — that is, cryptocurrencies launched by cities — could offer citizens a new way to invest in a certain location and even buy goods while helping governments to fund projects.

The minimum bond investment is $1,000, although they are usually sold in batches of $5,000. People who want to invest less simply cannot do it. Cryptocurrencies and tokens could be used for assets under $5 million and enable investments under $5,000.

The main mechanism for municipal cryptocurrency is the securitization of assets.

* Securitization is the process of establishing a financial instrument that merged from various financial assets into one group.

The post Tokenizing Real Estates appeared first on Blockchain Insider.

It’s an honor to be invited as one of the panelist to share about tokenomics in the real estates sector, from a technopreneur’s point of view.

The investment forum was held at 9th March 2019 and attended by some 500+ investors from around the country. It was a Mandarin speaking session for Chinese community.

Organized by Hua Zong (Federation of Chinese Associations Malaysia), this is an annual investment forum since 2002. This is the 17th year since its inception, which makes the event a trustworthy brand when it comes to investment related economic forum.

After the presentation, I thought of some keypoints delivered by Polina Gusak from Switzerland during the Blockchain in Government conference in Singapore.

Property leaders know conveyancing is coming to an end.

For sale ready homes, transfer of information can be done, about the value and the ownership.

Secure property titles help eliminates poverty and boost prosperity.

Post Event Media Report

Sinchew | Nanyang

Related Info

Public feedback sought for ICO, property crowdfunding rules as reported in Chinese newspaper on 6th March, 2019.

Link to English newspaper report: https://www.theedgemarkets.com/article/public-feedback-sought-ico-property-crowdfunding-rules

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