Real Estate Tokenization: A New Form of Securitization?

Bertram Steininger ()

ERES from European Real Estate Society (ERES)

Abstract: After solving the double-spending problem of digital tokens with blockchain technology, the market for digital tokens has increased enormously over the last few years. Mostly real assets, which are not easy to divide, costly, and involve regulation effort, are identified as the most suitable assets for digital tokenization – properties and land are obviously among them. Even if the key element of solving the double-spending of digital tokens – the blockchain – is widely known, the specific regulations and procedures of this young and its infancy being technology are still not been researched and analyzed exactly. This paper analyzes the theoretical benefits and challenges of real estate securitization via blockchain and how different these “new” assets are from traditional securitizations based on empirical data (return, risk, holding ratios, fee, pricing) of the first token transactions.

Keywords: blockchain; emprical; real estate tokenization; securitization (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2021-01-01
New Economics Papers: this item is included in nep-isf, nep-pay and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2021_109

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