Groundbreaking Notarized Tokenization Sets Standard for Institutional Real Estate Assets

Blocksquare announces they have reached a milestone in the sphere of real-world assets (RWA) and decentralized finance (DeFi) by achieving the first-ever notarized tokenization of a real estate property and its ensuing integration with the Slovenian land registry. Currently, the blockchain infrastructure provider has tokenized over $70 million worth of real estate assets throughout 15 countries, using the Blocksquare tokenization protocol.

Tokenization is a process where the rights to a physical asset, such as real estate, are transformed into a digital token on a blockchain. Each of these tokens signifies a fraction of the property’s value. These tokens can be readily purchased, sold, or traded, which according to Denis Petrovcic, CEO of Blocksquare, paves the way for a secure and transparent system for property ownership. He states, “Blocksquare has turned what once seemed as a far-off dream into a reality.”

The tokenization of a real estate asset has further boosted the legally binding protocol that Blocksquare currently provides, an infrastructure that can be used by any institution or real estate owner. By integrating notarization into the tokenization process of a real estate asset, Blocksquare has achieved successful legalization through a public notary who authenticated the transaction and secured the legal recognition and enforcement of the tokenization. Petrovcic says this marks a significant turning point in the real estate industry and for Blocksquare.

According to a recent report by Bank of America, “Blockchain-based tokenization of real-world assets (RWA) is gaining traction among major financial service firms and other big brands.” The tokenization of RWAs has become convenient for buying and selling assets because it can be done at any time as it doesn’t require the involvement of traditional brokers. Additionally, Boston Consulting Group (BCG) forecasts that the aggregate value of tokenized illiquid assets, encompassing real estate and natural resources, could surge to $16.1 trillion by 2030.

According to Petrovcic, Blocksquare’s notarized tokenization of a real estate asset lays the groundwork for the broader real estate and blockchain sectors. The successful amalgamation of blockchain technology with the land registry ensures regulatory compliance, security, and jurisdictional adaptability, unlocking many possibilities for investors looking to engage in the global real estate market through blockchain-based solutions.

This groundbreaking accomplishment results from a collective of visionary and innovative minds. Blocksquare expresses profound gratitude to everyone involved, especially Peter Merc, Co-founder and CCO, Manca Petrovcic, Head of Legal, and notary public Barbara Andric Velkovrh. Their firm vision and faith in a reformed property ownership structure have been critical to this success.

Read the entire article about real estate tech innovations, or, read more news about Arizona real estate investing. We warmly welcome and encourage you to mention our site to your circle of fellow investors, letting them benefit from the valuable insights we provide. Thanks!