Brickblock Tokenises the First Property in Europe
Today in Berlin, Germany, March 28, 2019 Brickblock achieved a significant milestone by tokenising a real estate vehicle carrying an approximately €2 million property in Wiesbaden, Germany. The sale was exclusive to eligible investors. It is the first transaction in the European Union for which real estate shares are registered as digital tokens on the blockchain, a process known as ‘tokenisation’. Tokens entitle the token holder to the economic benefits of the underlying real estate asset (e.g. dividends from rent, interest, principal distributions). While the real estate industry has been slow to transition from paper-based to digital processes, Brickblock’s proprietary technology and legal framework have provided a real use case to accelerate this shift. “Blockchain is at the forefront of technology and has the potential to create a more efficient and globalised financial system. I am excited about the future impact of tokenisation,” said Brickblock C...