Understanding Real World Assets (RWA) through Tokenized Gold
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The series special 【Understanding Real World Assets (RWA) through Tokenized Gold】 has reached its final episode, and we have invited Professor Chien-Yuan Chen from Feng Chia University, an expert in real estate and blockchain technology, to discuss the relationship between real estate and RWA, as well as the most promising applications for the future.
According to Statista, the global real estate market is expected to reach $727.80 trillion by 2029. However, traditional real estate faces issues such as lengthy transaction processes, over-reliance on intermediaries, and a high risk of fraud.
Professor Chien-Yuan Chen believes that if land rights can be presented in the form of 'tokens', it can enhance information transparency,
prevent counterfeiting, reduce costs, and increase transaction efficiency.
It is even possible to record property rights and land registrations entirely on the blockchain, serving as a 'shadow ledger' for the current system.
This acts as a digital backup that cannot be arbitrarily altered. Even if real estate is inherited by different generations, there will still be clear records of ownership.
Winston Hsiao, co-founder of XREX and Chief Revenue Officer, suggested that tokenizing real estate has many imaginative possibilities in terms of applications and gameplay.
For example, a vacation cabin that is only used during certain seasons can have its ownership divided through tokenization, such as ownership belonging to A in winter and to B in summer, allowing everyone to own the cabin during their preferred season.
Additionally, the purpose and rights of purchasing real estate can be clearly segmented through tokenization, allowing buyers to choose how much time of 'residential use rights' they want to buy, potentially decoupling real estate finance from housing needs, which may also be one method to achieve housing justice.
Web3 Westward Expansion
Hosted by XREX co-founders Wayne Huang and Winston Hsiao, along with Yoyo You, Senior Director of Corporate Communications at XREX Group, we will help you understand the concept of decentralization and explore the Web3 world from various perspectives.
Episode summary
Why did Professor Chien-Yuan Chen, who specializes in land economics, enter the world of blockchain?
Reviewing the pain points of real estate transactions! Can blockchain solve the 'transparency' dilemma?
Can tokenizing real estate find a balance between 'housing justice' and 'real estate finance'?
What are the benefits of dividing property rights through tokenization?
Make property rights clearer! Use blockchain for land registration 'shadow ledger'
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