Blockchain

Swiss Real Estate Company Closes A $134 Million Deal Using Blockchain

single-image

bitbond bitcoin lending

A building on the prestigious Banhofstrasse in Zurich, Switzerland was successfully tokenized and sold on the blockchain today.

The new owner of the building is Swiss real estate investment company BrickMarket. The company has issued bond-backed crypto tokens that figuratively represent “shares” of ownership in the building,. Those tokens are for sale to individuals who want to cut themselves in on earning some of the building’s rental income and benefit from any rise in the property’s value.

Here’s a Google Street View image of Banhofstrasse 52, the building in question. Located in the center of the city in a high-demand retail district, it’s home to private office space and a Swatch retail outlet:

The former owner is a company called RFR Holding, but it will still retain a version of ownership after this sale. The terms required that RFR receive 20% of BrickMarket’s total supply of tokens pertaining to the building, so the company will maintain significant interest there and collect passive income from it going forward.

Brickmark says this tech-driven real estate purchase is just the first step in a much bigger plan to build a big blockchain-powered real estate business that could be worth much more than $134 million.

But it all has to start somewhere.





Source

Leave a Reply

avatar
  Subscribe  
Notify of

You may also like

Bitcoin

Bitcoin Price Blitzes the $8.5K Resistance as Bulls Target $8.8K

single-image

bitbond bitcoin lending

As the weekly close approached, Bitcoin (BTC) price gained above $8,500 after spending the previous day trading in the $8,200 to $8,300 range. At the time of writing, bulls are attempting to push through the $8,500 to $8,650 resistance zone in order to inch toward a daily lower high at $8,800.

Bitcoin daily price chart. Source: Coin360

Bitcoin daily price chart. Source: Coin360

Earlier in the day Cointelegraph contributor Scott Melker spotted the bullish development on the hourly timeframe when he tweeted the following chart and said: “Local double bottom breakout. Bottom reversal pattern.”

BTC USD 1-hour chart. Source: TradingView

BTC USD 1-hour chart. Source: TradingView

View More Article
Blockchain

Digital Courts Trial Decentralized Justice, Real World Weighs Verdict

single-image

bitbond bitcoin lending

Imagine a future where conflicts and legal disputes are no longer settled between the four walls of a courtroom but by anonymous jurors of a blockchain network. The concept seems far-fetched, but it is already a reality as a result of some forward-thinking projects that are using the power of decentralized smart contracts and participants that are incentivized to make rulings as jurors.

Kleros, a blockchain dispute resolution system, is already operational, and it has sparked heavy debate around blockchain technology and its application in the legal space. In February, Kleros will be joined by another platform with its own dispute-resolving platform — Aragon Court.

The decentralized court falls under the umbrella of Aragon Association’s decentralized platform that enables users to create a variety of organizations and companies. Users can manage a variety…


View More Article
Blockchain

The Decade of the Consumer–Citizen Governance Dilemma

single-image

bitbond bitcoin lending

The health of a democratic nation’s currency is shaped by two forces: monetary policy, set by its Central Bank; and fiscal policy, set by the state’s ruling government. The thrust of it is that currency and politics are bound together, whether we like it or not. But that’s old news.

Citizens of the cryptosphere are already aware of this, as many members of the community will have been drawn to crypto through dissatisfaction with the governance of modern currencies and the sway that politics has over it. At the very least, we recognize it — and are making choices to hedge our exposure to it.

National politics is increasingly unstable ground — with the political landscape globally colored by polarized opinions. More and more, elections the world over are resulting in coalition governments since no one party receives the majority consensus. Issues such…


View More Article
Blockchain

Indian PM Awards Crypto App Creator as Supreme Court Deliberates on Ban

single-image

bitbond bitcoin lending

India’s Prime Minister Narendra Modi awarded young entrepreneur Harshita Arora, the developer of a cryptocurrency price tracking application, amid an ongoing battle in her home country over the status of cryptocurrency.

In a tweet on Jan. 24, Modi said that Arora’s “passion towards science, technology and human welfare are clearly visible.” She received the Bal Shakti Puraskar 2020: an award recognizing youth’s contributions in the fields of social service, innovation, bravery, sports, art and culture and scholastics.

Arora was born on Oct. 2, 2001, and “created an app to safeguard investors from scammers,” according to Modi’s tweet. Her app, Crypto Price Tracker, is a portfolio management and price tracking app.

She also worked on the “Food AI” application that identifies food in pictures, and another application that helps biologists count cells in microscope images — the aptly named…


View More Article
Blockchain

Telegram Attacks Apple, Musk on Crypto, WEF Debrief: Hodler’s Digest, Jan 20–26

single-image

bitbond bitcoin lending

Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

World Economic Forum debuts framework for central bank digital currency

It was a c-c-c-cold week in Davos, but Cointelegraph’s reporters wrapped up warm to bring you all the news from the World Economic Forum. One particularly big announcement saw the WEF unveil a central bank digital currency policymaker toolkit. The framework, created in tandem with central banks, is designed to help policymakers understand whether deploying a CBDC would be advantageous. In other developments, a global consortium has been formed to focus on developing interoperable, transparent and inclusive policy approaches to regulating digital currencies. At the start of the week,…

View More Article
Bitcoin

Cryptocurrency News From Japan: Jan. 20–24 in Review

single-image

bitbond bitcoin lending

This week’s headlines from Japan include several central banks collaborating on digital currency research, Binance removing the Japanese yen from its platform, Japan’s Liberal Democratic Party investigating digital assets, comments from Japan’s Deputy Prime Minister on digital currency research importance, and Coincheck paying out its first Lisk staking reward. 

Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan.

Japanese political party proposes digital currencies

Japan’s ruling Liberal Democratic Party aims to propose a national digital asset in spring of this year, according to some reports. A parliamentary group of 70 lawmakers will reportedly submit their proposal in February and will note how the currency will act with regard to concerns about individual data security and money laundering. 

Bank of Japan and several other central banks evaluate digital currencies

News of action from Japanese lawmakers coincides with the debut of a research group…


View More Article
Bitcoin

Crypto and Blockchain Firms Pitch In to Help Coronavirus Victims

single-image

bitbond bitcoin lending

Some blockchain and cryptocurrency firms have pledged to help victims of the coronavirus in Wuhan, China. Cryptocurrency exchange Binance pledged to donate 10 million Chinese yuan ($1.44 million) to the effort.

In a tweet on Jan. 25, Binance CEO Changpeng Zhao said that Binance made the pledge but did not make any announcements after a Twitter user tagged him in a news article about cryptocurrency donations being accepted for the cause:

“For #Wuhan, not realistic to do crypto to end beneficiaries. Binance pledged 10m RMB ($1.5m USD) to help #coronavirus victims. We didn’t make any announcements. But [Binance Charity Foundation] BCF/Binance team has been busy for the last few days. Still need help to arrange logistics locally.”

According to a Jan. 25 WeChat post by blockchain…


View More Article