Real Estate Blockchain Initiatives In Northeast Asia Are On The Rise; A Push Towards DLT Adoption
In the last few weeks, several initiatives related to the real estate industry and the blockchain technology were started in Northeast Asia.
Some major companies are starting to look at this market, including Sony. Most of these announcements were made in September, which shows a pretty clear trend: the tokenization of real estate.
The List Of Companies Starting Real Estate Blockchain Businesses In Asia
SK Securities, a Korean company, was one of the first firms to appear in the latest wave of companies focusing on this industry. The main goal of the company was to allow fractional ownership and trading of properties. Another Korean company to enter the market was Kasa Korea. The company is set to participate in a regulatory sandbox created by the government and will also focus on this industry.
In Japan, JLL Japan affirmed that it was starting partnerships with companies such as the Sumitomo Mitsui Trust Bank to create a platform that would be used to record and manage data about the real estate market. The pilot project would be used to create a blockchain that could be used to manage real estate using insights taken from the data.
Sony was also trying to carve its place in the market. SRE AI, one of its subsidiaries (which is partly owned by Yahoo Japan), also joined the Sumitomo Mitsui Trust Bank to create a blockchain in which real estate transactions could be made.
The fifth company to start a project in this area in the same month was Tsubai Space, another Japanese company. Tsubai Space is set to join Shinonome Advisors to create a token that would be used in this market.