- A blockchain-based solution to address the number of unused homes in the Japanese countryside has been developed by two companies recently.
- Securitize joined forces with the LIFULL in order to create a funding platform which utilised digital security to invest in real estate.
A blockchain-based solution to address the number of unused homes in the Japanese countryside has been developed by two companies recently.
One of the companies, a compliance platform for token issuers, Securitize joined forces with the Tokyo-based LIFULL in order to create a funding platform which utilised digital security to invest in real estate. According to the press release published earlier today, the new partnership between the two companies has been successful in making it evident that blockchain technology and digital security is more effective for crowdfunding for the Japanese real estate market than traditional methods.
Working with BUIDL, a subsidiary of Securitize, LIFULL Social Funding will be using the new platform to further boost up homes in the countryside of the country that have become abandoned over the years. The co-founder and CEO of Securitize, Carlos Domingo has given his thoughts on the new project and what it means for Japan. He went on to say:
“Our collaborative success in creating a comprehensive platform solution for crowdfunded real estate funds is very exciting, and it is a great start for Securitize and LIFULL as we work to modernize the Japanese real estate market together.”
This move by the company is intended to provide an incentive for investors to crowdfund the real estate in places that are rundown and no longer used by the people.
In explaining the issues behind the investment, LIFULL said the following:
"To address vacant houses nationwide, it is necessary to actively promote renovation and conversion of these homes for other uses to maintain and improve the value of the real estate. That’s a difficult problem. Regional revitalization of real estate crowdfunding is being promoted as a solution to this problem.”
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!