Startup Securitize, specializing in token stock issuance, and LIFULL Social Funding have launched a blockage based platform for real estate investments using digital securities.
The project also involves BUIDL company, which Securitize bought out last December, and GMO Aozora Net Bank. According to the developers, the launch of the first phase of the project was a success.
The platform was created to raise funds to be spent on reconstruction and refurbishment of empty houses in rural areas of Japan. As a result of testing, tokenized securities and blockchecks have proven their effectiveness compared to traditional methods of fundraising.
The developers explained that through smart contracts, tokens and dividends are distributed automatically, along with debt repayment, which significantly reduces current costs. At the same time, investors and third parties can check the information and track the funds in the open block of the Etherium.
Securitize CEO Carlos Domingo and LIFULL Social Funding project manager Tsunahiro Matsuzaka are confident that the platform will not only solve the problem of abandoned homes that become uninhabitable, but will also generally modernize the Japanese property market.
Last January, Securitize began developing a blockbuster-based platform for debt issuance with IBM's participation, and in November the startup received large financing from the Japanese financial conglomerate SBI Holdings.
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