The reason behind many investors prefer to use this form of blockchain-based asset ownership is because of the many advantages attached to it. This is because of the following factors:
- Immutability: Once a record is entered on the blockchain network, it is almost impossible to modify. This helps to safeguard the interests of the investors as nobody can change their ownership status by altering the records.
- Transparency: Since all records are stored in an orderly fashion on the blockchain, the whole exercise of transferring assets becomes a hassle-free one.
- Divisibility: It helps break down large assets into smaller fragments digitally. These digital tokens can then be traded, thereby transferring ownership proportionally.
- Cost-saving: Compared to traditional methods, this form of ownership is inexpensive as it eliminates additional costs by circumventing middlemen and uses smart contracts to execute processes.
- Accessibility: Unlike paper documentation, digital tokens are not tied down to any physical location. Hence, it is possible for an investor to organize trade from any place and at any time.
- Security: Through the use of cryptography, the details of different transactions that are stored on the blockchain are protected from external threats such as hacks and attacks.
Of late, tokenization is finding applications in different fields such as real estate, business, art, commodities trading, and other asset-based industries. Presently, there are several accredited platforms that allow the trade and exchange of tokens in a seamless fashion. Meanwhile, countries such as Singapore, South Korea, and England are taking the lead in embracing this technology.
Tokenization ensures risk-free, hassle-free, efficient transactions and expands the business globally, breaking every barrier faced by the real estate industry. If you’re looking to tokenize your property, this is the right time! Hire an experienced asset tokenization company like Blockchain App Factory who are pioneers in tokenization and blockchain technology, tokenize your property and amplify your profits and benefits!