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Alliance Investments, a company for real estate development, is planning the Tokenization of a 500 million-pound project on the Tezos Blockchain. The Tokenization is to enable a wide audience to the entrance in the traditional real estate market.
From Stefan Schäfges4. November 2019BTC $ 8,698.71 -1.65%part Facebook Twitter LinkedIn xing mail
In a press release dated 30. October is reported on the upcoming real estate project of Alliance Investments. Accordingly, the company plans the Tokenization of £ 500 million in various real estate projects. The beginning of the River to make Plaza. This project consists of 180 luxury residential units and is located directly on the banks of the river Irwell in Manchester, England.
perform the Tokenization of this large-scale project, is scheduled a Security Token Offering (STO). This Alliance Investments works in conjunction with tZero, the Tezos Foundation, and Megalodon. Alliance Investments is a company for real estate development and since 30 years active in the market. tZero is a subsidiary of Overstock and takes care of the development and marketing of financial technologies. The Tezos Foundation supports the development of the Tezos Blockchain, which offers solutions for digital transactions and Smart Contracts. In the case of Megalodon, it is a consulting company in the area of FinTech.
Tokenization is to keep to lead to democratizationFor the project, River Plaza Alliance investment plans, at least 20 million pounds of the value of River Plaza. The STO is to be carried out with the tokenization technology by tZero and on the Tezos Blockchain to run. Supporting the consulting firm Megalodon to digitize the project.
The Tokenization of real estate Assets on a STO describes digital participation papers to a real estate holding company. As a General rule, can be shown via token, property rights in assets, also in small units.
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The CIO of Alliance Investements, Rani Zahr, said:
The procurement of funds through a STO is more efficient, cost-effective, more Autonomous and more democratic than traditional financing.
he Also added:
We believe that we are at the forefront of technological change that can change the current funding paradigm.
the hem Noursalehi, the CEO of tZero, reiterated:
The Tokenization of real estate is to democratize the access to this traditional exclusive asset class.
in conclusion, the Board member of the Tezos Foundation, Hubertus Thonhauser, the great Potential of tokenization, and said:
We are impressed by the entrepreneurial Vision of Alliance Investments, to define the ownership of real estate, and the Mission of tZero, liquid assets of a wide audience.
The company tZero as well as the Tezos Foundation to work on some projects in the area of Tokenization. BTC-ECHO had already reported in August about the tZero, and the Opening of the Security Token market to the Public. The Tezos Foundation had announced this in October its partnership with the British FinTech companies GlobaCap.
The 500 million pounds is to be invested in the next few years in various real estate projects throughout the UK. The projects range from student housing to commercial and hospitality real estate.
The Start of STO is planned for the first quarter of 2020. The luxury residential complex River Plaza is scheduled to be completed in the third quarter of 2022.
