One of the applications of blockchain technology that could prove to be most useful is transforming the world of property. It could make the transfer in ownership very straightforward and with the utilization of smart contracts, the mortgage industry could be transformed.
AirSwap is a decentralized crypto trading platform that has entered into an agreement with Propellr – a broker-dealer that is registered with FINRA – which will see one of the priciest real estate sectors in the world being tokenized.
As part of this deal, both parties will be utilizing the peer to peer trading protocol of AirSwap in order to develop a new platform which will give brokers and their clients the ability to have their securities tokenized.
They will also allow a medium for these tokens to be traded, all while ensuring that the relevant securities laws have been met.
To start off this project, their focus will almost exclusively be on real estate in New York, but there have not been many details released as of how exactly they plan to do so.
While AirSwap is often called as being a crypto exchange, in reality, it is more of a decentralized search engine that enables sellers and buyers to make arrangements for their trades by utilizing the peer to peer protocol.
While the property sector has always been an illiquid one, this could change significantly thanks to tokenization.
It was between August and September of 2017 that AirSwap conducted their ICO pre-sale, managing to raise $20 million, with an additional $5 million garnered through their main token sale. One of the other projects that they are working on is a trading product for cryptocurrencies that is over the counter.