Tokenization of Real Property Becoming a Way to Raise Capital
Epazz Inc., a mission-critical provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, announced that CryObo technology will issue Non-Fungible Tokens (NFT) for a real estate deal in Cyprus. Cyprus is a small European Union member which is moving forward with cryptocurrency regulations. The Cyprus real estate deal will be a test of CryObo technology.
Recommended AI News: Foxtel Evolves Its Partnership With Commscope Launching The Revolutionary New Streaming Iq5 Device
The tokens will be backed by real estate. Real estate will be appraised for current value; however, the future of real estate will be evaluated. The goal is for the real estate deal to access the future value of properties once the land is developed, and buildings are constructed. This technology would allow real estate developers to raise capital at better terms and allow the token holder to raise appraisals of the tokens and earned income.
Recommended AI News: Merkle B2B Named 2021 Large B2B Agency Of The Year By The Drum
Our goal is to launch CryObo in early 2022. This decentralized financial system would be the first real-world business backing the tokenized economy. It would be beneficial to fund farmers, help their customers by giving discounts and provide incentives for the retail sector.
Shaun Passley, Ph.D., Epazz Inc. CEO, and chairman, said, “Cyprus is a great country to test the abilities of CryObo technology for real estate deals.”
Recommended AI News: Microland And Securonix Partner To Deliver State-Of-The-Art Managed SOC solutions
[To share your insights with us, please write to sghosh@martechseries.com]
Comments are closed.