A blockchain company focused on the real estate market called AssetBlock has recently launched its own commercial platform. The new product uses the Algorand blockchain technology as a basis. This platform is also a part of the partnership with Lodging Capital Partners, a luxury hotel management company.
With the partnership, the company is set to tokenize over $60 million USD in assets of the hotel using the blockchain. This way, investors can access exclusive properties and use tokens that represent these assets.
The CEO of AssetBlock, Mike Liddell, affirmed that the company was created because the economy changed and needed modern technology. They had the opportunity to create a solution that could bring two worlds together, one of the traditional investors and another one of non-traditional investors.
Liddell has also affirmed that the company’s partner is a great company because it has over $1.5 billion USD in properties around the world. This means that there is a lot more property to be tokenized.
Steve Kisielica, the co-founder of Lodging Capital Partners, affirmed that the new partnership will also be very useful for the company because it will allow it to remain competitive and to access a large pool of investors.
A lot of people are embracing the blockchain technology and achieving a good result with this decision, so he thought that the company should follow this trend to be able to continue to be important in the market as it changes with time.
At the moment, Lodging Capital Partners is the only partner that AssetBlock has, but the company has already hinted that it may announce other partners soon.