With cryptocurrency adoption on the rise, many sectors are vying to hop in on the bandwagon which has led to an increase in opportunities. Caruso Properties– one of the largest real estate firm in the US – has announced the acceptance of rent in the form of Bitcoin.
The next initiative in the real estate industry has been taken by Vesta Equity to revolutionize real estate tokenization. In a partnership with Algorand block chain, Vesta Equity has launched its real estate tokenization services. Vesta Equity is a global home equity marketplace and it envisions to transform the industry by increasing the value provided to the customers.
Through the tokenization, the company is aiming to disrupt the market by reducing the intermediaries. The tokenization will allow home owners to convert their equity into digital assets. The tokens will enable home owners to sell a percentage of their home equity in the form of digital assets to accredited investors without any compounding interest.
Algorand and Vesta Equity, both, have their mission aligned which is to increase the value in the real estate market through the block chain technology and the numerous opportunities it provides. Real estate tokenization is one of the most viable real-world use of the block chain technology. Vesta Equity has taken the first steps towards a proper implementation. This will not only open doors for further implementation of block chain technology in the real estate realm but also in other industries as well.