Real estate goes crypto
New technology
Tokenised real estate assets have the potential to increase the liquidity of the real estate market and tap new sources of capital, but can they truly deliver on their theoretical potential? And when will they appear on the scene?
A few years ago, blockchain was all the rage and almost everyone was mining bitcoin. The electricity used seemed astronomical, enough to power a country like Switzerland – and this was all done to further what at the time appeared to be legally questionable financial gains. Nonetheless, it was announced that blockchain was a technology that was about to reshape the world. And then everything went quiet and now everyone is raving about AI instead, a technology that really does seem to be revolutionising the workplace. Perhaps blockchain was a solution searching for a problem; or maybe it had yet to just find its killer app. And perhaps that app is real-world asset (RWA) tokenisation and such a use can easily be applied to real estate.
But in Poland, real estate tokenisation has possibly not got off to the best of starts. In 2022, internet personality Rafał Zaorski bought a luxury apartment in the Złota 44 building in Warsaw for PLN 23 mln with a mortgage of PLN 20 mln. To much
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