Tokenization of Real Estate: A Study on Land Tokenization in Turkey

Göksu Sabuncuolu and Kerem Yavuz Arslanli

ERES from European Real Estate Society (ERES)

Abstract: "This paper discusses new developments based on blockchain in real estate development and proposes that the integration of the methods used in Turkey into the blockchain will contribute to industry development, especially to the division of large-scale lands into smaller digital units. The real estate ecosystem, which is one of the largest sectors in the world, will be made more liquid and accessible by changing traditional methods used to develop real estate with establishing new links for digitization which is called tokenization. Concepts such as land trading, deed registration, and property rights, will be recorded in a distributed ledger based on blockchain technology to ensure faster and more reliable transaction integrity. For small investors, expensive property that seems impossible to buy will be tokenized into the portfolio of dozens of different investors, accelerating the sector’s growth. This study covers the general characteristics of blockchain technology the integration of tokenization into land development, and the digitization effects of land development in the real estate sector, starting with the sectors in which this technology is used. The research will create a model that covers regulation, blockchain-based smart contracts, security token offerings, and the financial part of crowdfunding."

Keywords: Crowdfunding; Real Estate, Blockchain; Security Token Offerings; Tokenization, (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2023-01-01
New Economics Papers: this item is included in nep-ara, nep-pay and nep-ure
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