Elevated Returns Will Sell $1bn in Real Estate with Tezos Blockchain

Asset digitization company Elevated Returns (ER) announced on Monday that it has chosen the Tezos blockchain to launch its real estate investment offering.

The company says that it plans to tokenize $1 billion-worth of real estate and put it on to the Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term.

“There is no better solution than working on a Tezos-based token implementation,” said Stephane de Baets, President of Elevated Returns. “We have a number of very high-profile deals lined up and we could not afford to compromise the technological product."

ER already has some experience in tokenizing real estate.

In October of last year, it sold the St Regis Aspen Resort, a hotel in the Colorado skiing town, for $18 million over the blockchain.

On that occasion, however, the firm used the Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term blockchain to carry out the transaction.

The company said that it has decided to switch to Tezos as it provides a better set of solutions for asset tokenization.

With help from the Tocqueville Group

Users of the Tezos blockchain, which has a particular focus on smart contracts, make transactions in the XTZ cryptocurrency.

The Tocqueville Group, a company which supports businesses that want to use the Tezos blockchain, will be assisting ER as it starts to sell real estate.

“We are extremely excited to assist Elevated Returns,” said Alison Mangiero, President of the Tocqueville Group (TG). “Tokenized real estate is a strong use case for Tezos and a real-world example of what is possible with blockchain technology.”

Alongside Mangiero’s firm, ER will also be working with Securitize - a compliance company that works specifically on asset digitization.

Securitize will be working with both ER and TG to ensure that any assets the former company adds to the blockchain are compliant with any regulatory requirements.

“Having worked closely with regulators and local authorities around the world, we understand the need for the highest security and compliance features,” noted de Baets. “With the Tezos-powered solution and its integration in the Securitize portal technology, we feel we have a total solution.”