28 Jul '17, 1am

Singapore #proptech companies are using #blockchain platforms to "tokenise" property.

Singapore #proptech companies are using #blockchain platforms to "tokenise" property.

AT LEAST two Singapore "proptech" companies are using blockchain platforms to "tokenise" property - that is, to create tokens backed by real estate which investors can buy. It is a pioneering move that is nascent even globally - and is such a new idea that there does not seem to be explicit existing legislation in Singapore governing these digital instruments. The two companies are FundPlaces and Reidao. Three weeks ago, FundPlaces went ahead and launched its real estate-backed cryptocurrency called Tiles. Investors are issued these digital tokens in exchange for Singapore dollars, with each token being entitled to the cashflow of the underlying real estate investment which it references. (Most of FundPlaces' projects for which it is raising funds are in Australia and the UK.) A blockchain is basically a way to maintain a database without a central authority. It makes it f...

Full article: http://www.sgsme.sg/news/singapore-firms-dip-toes-blockch...

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Singapore firms dip toes into blockchain tech for property

Singapore firms dip toes into blockchain tech f...

businesstimes.com.sg 28 Jul '17, 2am

AT LEAST two Singapore "proptech" companies are using blockchain platforms to "tokenise" property - that is, to create tok...

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With two Singapore ‘proptech’ companies – FundPlaces and Reidao – turning to blockchain platforms to create property-backe...

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via @WSJ

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