Blockchain Factory App to Tokenize $225 Million in Real Estate Assets

  • The initial coin offering (ICO) model has expanded to include a new regulatory compliant fundraising model called security token offering (STO).
  • Blockchain App Factory, an Indian DLT-enabled software developer, is helping real estate firms tokenize their assets on a blockchain.

Blockchain App Factory, a distributed ledger technology (DLT) focused firm that recently began working with security tokens, is reportedly managing three tokenized securities projects worth an estimated $225 million.

Blockchain App’s management team said they’re helping three companies in the real estate sector to tokenize their assets - in order to raise funds for the projects.

Security Token Offerings

As covered, the process of tokenizing real-world assets, or security token offering (STO), allows the holders of physical good and services to earn returns on their investments - while also remaining compliant with relevant regulations such as securities laws.

Blockchain App Factory’s developers have created an asset tokenization platform - which will be used by the company’s clients to “digitize” their real estate assets. The platform can also be used to conduct STOs for art projects, venture capital funds, and various other types of assets.

Before introducing DLT-based platforms for launching STOs, Blockchain App had mainly been helping its clients develop smart contract, initial coin offering (ICO), and Hyperledger-powered solutions.

Helped Over 30 Firms Launch ICOs

Notably, Blockchain App’s development team has helped over 30 crypto firms successfully complete their ICOs.

Projects completed under the Blockchain App team's guidance include those offering ERC-20 compliant tokens, companies launching their own blockchains, and firms that have developed their own mineable coins.

In order to offer blockchain-based financial services, Blockchain App Factory has hired a team of consultants with the relevant industry experience. The company’s consultants include professional auditors, qualified legal experts, and those with experience working in the traditional finance sector.

Regulatory Compliant Investments

Commenting on the importance of adhering to regulatory requirements, Ramkumar Subramaniam, the co-founder and sales director at Blockchain App Factory, said:

STOs' key focus is on the regulations' sphere, albeit, technology will also follow suit to help the industry thrive. Our team of developers with adept technical know-how has developed tokens that are regulatory compliant, across jurisdictions.

Ramkumar Subramanium

Subramaniam added that investors now seem to be less interested in ICOs, and are beginning to turn their attention towards STO-based projects - as these are properly regulated and also backed by real-world assets.

Showing his support for the Stellar network and the IBM and Linux Foundation-backed, open-source blockchains platform, Hyperledger, Subramaniam said: “Standardization in token protocols is much needed, [and] we believe that it must be carried out on blockchains such as Hyperledger and Stellar."

Cannabis Shops Turn to Crypto Apps Amidst Coronavirus Cash Shortages

Michael LaVere
  • Cannabis shops in Boulder, Colorado are using bitcoin payment app Strike to conduct "contactless" exchanges.
  • Cash shortages and lack of sanitation are causing businesses to find alternative means for transaction. 

Cannabis shops are using bitcoin payment services to conduct business in place of fiat amidst the coronavirus pandemic. 

According to a report by CoinDesk, cannabis dispensaries in Boulder, Colorado have been onboarded to the closed beta for Strike, a bitcoin payment service application founded by lighting network supporter Zap. 

Zap, founded by Jack Mallers, has been operating a closed beta for the payment application Strike which allows users the option of sending bitcoin or dollars and receiving funds in their bank account. The application uses a simple QR code interface, similar to Venmo, that allows users to send funds without having prior knowledge or expertise with bitcoin. 

Mallers said, 

Every Strike user is given a public domain at strike.me. We’re using Lightning for really fast online settlement of value transfers. … It’s also beneficial for privacy on the sender’s side.

Johnny Kurish, general manager at Boulder’s Helping Hands Herbals cannabis shop, said the application allowed his dispensary to process $1,000 worth of purchases since being added to the beta last week. 

Kurish said the dispensary will switch to only accepting Strike payments, which allow for contactless exchanges in light of the coronavirus pandemic. 

He said, 

We’re really lucky to have curbside drop-offs. We check the ID through the roll-up window, deliver the cannabis to a podium in front of the car. We’re happy to reopen with an option that’s safe for our staff.

Featured Image Credit: Photo via Pixabay.com