Antony Welfare, Ripple CBDC Advisor, recently participated in a fintech conference in Central and Eastern Europe (CEE), where he presented two innovative use cases. One of them is real estate tokenization, a concept that is quickly gaining momentum as a potential future for the real estate industry, she said.

e-HKD, a hypothetical digital currency, and tokenized real estate are three different protocols that Ripple is currently experimenting with. This innovative method allows users to tokenize real estate assets and use them as loan collateral, which has the potential to increase access to real estate finance for more people.

This will be feasible through the use of security, private and authorized ledger known as the Ripple CBDC platform. This platform was developed to simplify the management of tokenized assets and digital currencies in a secure, efficient and decentralized way.

With non-fungible tokens (NFTs), Ripple has already established a presence in the real estate sector prior to this development. To use the XRP ledger to create and disperse NFTs indicating property ownership, ProprHome made a commitment to Ripple in November 2022. This would simplify the processes of buying, selling, and renting homes.

Blockchain technology has already been employed in real-world real estate transactions in certain cases. Leslie Alessandra used blockchain and a non-fungible token (NFT) to finalize the sale of her Gulfport, Florida home in February 2022, making her the first person in the United States to sell a property like this. manner.

The Central Bank of Russia (CBR) analyzed the use of CBDC for transaction settlement of real estate transactions in June 2022.

On the other hand, real estate tokenization is not without its challenges. The Hong Kong Securities and Futures Commission (SFC) has listed many suspicious unauthorized projects related to real estate tokenization.

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