Coinweb and Coldwell Banker Sign a Deal to Make Tokenization a Reality in the Real Estate Industry.


Coinweb and Coldwell Banker Sign Deal to Make Tokenization a Reality in the Real Estate Industry

With Coldwell Banker, Coinweb continues its mission of bringing blockchain technology to traditional businesses.

The platform is already in development, with a beta release scheduled for Q3 2022.

ALSO READ: How Web Scraping is Changing the Real Estate Industry

Coinweb will develop and support cross-chain token issuance for Coldwell Banker’s large customer base, starting with a pilot in Thailand.

Coinweb will issue cross-chain governance tokens that map down to the underlying asset’s income, allowing stakeholders to vote on distribution, as well as cross-chain security tokens that map down to asset ownership.

This lowers the entry barrier for a larger pool of investors looking for higher-yielding luxury properties.

In Stage 2 of the project, parallel smart contracts will be executed in the Coinweb layer, compliance checks will be streamlined, and aspects of corporate action management will be automated.

Coldwell Banker’s tokens will be publicly tradable and will have cross-chain properties to maintain stability and mitigate the risks of fluctuating gas fees and other scaling issues like network speed.

Coinweb will be introduced to the property group’s other territories around the world, where the regulatory framework supports the project, once the pilot in Thailand has been proven.

Though still in its infancy, real-estate tokenization has been hailed as a major step toward unlocking liquidity, as well as increasing data transparency, automating significant manual conveyancing, and document notarization, all of which will result in greater efficiency and fewer errors, with the ultimate goal of reducing settlement times, hefty processing fees, and improving security.

Ms. has stated that

“We see real-estate tokenisation as the pivotal point for next-generation wealth-management,” says Napatkan Chaiwichit, Managing Director of Coldwell Banker Thailand.

We believe that allowing fractional investment and ownership will create significant opportunities by driving demand in both the primary and secondary markets, which is critical in unlocking the liquidity that real estate has always been associated with, especially in the luxury property arena.

The opportunity to fully utilize and explore blockchain technology is real and exciting.

We expect real estate investment to be re-energized by allowing new investors access to high-yielding assets.”

“Despite legacy processes, high fees, and illiquidity, the real estate space has always remained a high-value sector.

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