Published on August 16th, 2021 📆 | 2733 Views ⚑
0DeFi Technologies : LandOrc Uses NFT and DeFi Technology to Bridge the Global Real Estate Funding gap
"The rising growth in Decentralised Finance provides an alternative to the fund strapped Real Estate industry leveraging the power of digitalization"
The value of the world's real estate market reached
In 2017, the average global base lending rate was 11.53%, but it has since increased almost across the board in 2019 (11.57%) according to a 2020
Digitalizing the real-estate market with NFTs +
Digitalization in the real estate market has been emerging. However, processes are often a time and labour-consuming affair and have often been seen as a stagnant investment for large corporations, especially those with assets in different countries.
"Property Developers need loans for development and this funding gap needed to be closed. In came the private lending sector to support, but alas, the Covid-19 pandemic led to a decline in both capacity and appetite to lend as companies shifted their focus on their existing businesses and bottom lines.
Furthermore, there is a dearth of transparency in processes causing volatility in property prices, and coupled with slow transactions, the real estate market is in desperate need of a digital transformation. Complicating these are the snail-paced speed with which transactions occur," said
The NFTs are built on blockchain, a distributed ledger technology currently being widely adopted for various applications. NFTs are essentially digital tokens that carry data and are stored in the immutable blockchain ledger.
NFTs optimize real estate processes by implementing it in infrastructural, architectural, or physical assets such as buildings and title or ownership deeds.
As NFTs can be digitally represented, tracing and tracking ownership and authenticity of the digitally represented asset is simplified to a fraction of the time taken in traditional processes.
Land NFT (LNFT) represents the land title on the blockchain allowing for tracking changes in ownership as it moves from the wallet, including placing it as collateral for lending.
Associated information like valuation, site location, and visuals, as well as vicinity analysis, are brought on-chain via oracles and stored in the associated IPFS (InterPlanetary File System, a peer-to-peer hypermedia protocol) for easy and secured access.
This allows for hybridized digital-physical land titles that will make authentication and tracking and tracing of ownership of properties a breeze.
LandOrc's NFT +
"The time has come for property players to look into NFTs as a realistic and practical solution to circumvent the pain points that have been plaguing the industry for decades," said
Decentralised Financing (
LandOrc enables the
For more information, visit www.landorc.io
About LandOrc
LandOrc, based in the
Helmed by a cross-cultural team of experienced and enterprising experts across finance, technology, property, legal, and marketing, LandOrc is venturing into high base lending markets in
Media Contact
Company
Contact Person:
Email: tania@dsinteractive.co
Phone: 0103369919
State: Wilayah Persekutuan
Country:
Website: www.landorc.io
Source: www.abnewswire.com
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