Berlin based technical service provider Brickblock claims to have been the first company to tokenize a property in Europe. In practice, what this means is that the shares in a property are registered as digital tokens using blockchain technology, giving its holders the right to collect dividends from the rent the building produces. Brickblock tokenized a €2m property in Wiesbaden, Germany. “Blockchain is at the forefront of technology and has the potential to create a more efficient and globalized financial system,” said Brickblock CEO Jakob Drazaga. “Once a property, real estate fund, or financial instrument is tokenized, the real advantages come into play: subsequent transactions are instant, nearly free of charge, and, if done properly, without counterparty risk.”
