EU Land Registry Records the First Successful Tokenized Property: What’s Next for Real Estate and Blockchain?

In a remarkable stride for the realm of real-world assets (RWA) and decentralized finance (DeFi), Blocksquare proudly announces a groundbreaking feat – the successful notarized tokenization of a real estate property, seamlessly integrated with the Slovenian land registry. With over $70 million worth of real estate assets already tokenized across 18 countries through the Blocksquare tokenization protocol, this achievement heralds a game-changing moment for the industry.

The Influence of Tokenization in Real Estate

Tokenization, the process of converting tangible asset rights into crypto tokens on a distributed ledger, has wrought a revolution in the real estate sector. Each of these tokens symbolizes a share of the property's value, providing a secure and transparent system for real estate ownership. As articulated by Denis Petrovcic, CEO of Blocksquare, "Blocksquare has transformed a once-distant dream into a tangible reality."

Notarization: A Landmark Integration

What makes this achievement truly remarkable is the integration of notarization into the tokenization procedure. Blocksquare got legally recognized for tokenization by engaging a public notary to authenticate the transaction. This development strengthens the existing protocol provided by Blocksquare and opens up new avenues for institutional real estate owners and organizations to leverage blockchain technology.

Notarization: An Innovative Integration

The notable aspect of this accomplishment lies in the seamless integration of notarization into the tokenization process. Blocksquare has achieved legal validation for tokenization by collaborating with a public notary to officially authenticate the transaction. This innovation amplifies Blocksquare's existing protocol and unlocks fresh avenues for institutional real estate proprietors and entities to leverage the potential of blockchain technology.

Recognized by Financial Powerhouses: An Expanding Trend

In a recent report, Bank of America emphasizes that "the adoption of blockchain-based tokenization of real-world assets (RWA) is gaining momentum among major financial service firms and other prominent brands." The simplicity of trading assets without the need for traditional intermediaries serves as a driving force behind this trend. Furthermore, Boston Consulting Group (BCG) forecasts that the cumulative value of tokenized illiquid assets, spanning natural resources and real estate, could surge to $16.1 trillion by 2030.

Revolutionizing Real Estate and Blockchain

In the view of Petrovcic, the notarized tokenization of real estate assets acts as a harbinger of a revolution in both the real estate and blockchain domains. The seamless fusion of distributed ledger technology with land registries ensures compliance, flexibility, and security across multiple jurisdictions, proffering an array of opportunities for investors seeking a global real estate exposure through blockchain-driven solutions.

Expressions of Gratitude

This monumental achievement is a product of the vision and innovation of collective minds working in harmony. Blocksquare extends heartfelt appreciation to all those involved, with particular recognition given to Peter Merc, Co-founder and CCO, Manca Petrovcic, Head of Legal, and notary public Barbara Andric Velkovrh. Their unwavering commitment and vision to redefine property ownership structures have played a pivotal role in this extraordinary success.

About Blocksquare

Blocksquare stands as a leading innovator in the realm of real-world asset tokenization and decentralized finance. Through pioneering strategies and trailblazing achievements, Blocksquare persistently redefines property ownership and investment through secure, transparent, and legally sanctioned blockchain solutions. Driven by an unwavering dedication to transform the real estate industry, Blocksquare leads the way in ushering in transformative change.