The tokenization of real assets, or Real World Assets (RWA), refers to the digitalization of physical assets, such as a work of art, real estate, with which one wishes to make a profit.

It is the tokenization of tangible assets through blockchain technology; that is, everything that can be traded. The trend is on the rise this year and promises dividends to investors. “This process is similar to dividing a large asset into smaller, more accessible parts, allowing more people to participate in its ownership and investment. A common example is the tokenization of a building: instead of a single person or entity owning the asset, digital tokens representing parts of the property’s value can be acquired by many investors.”

In the process, the first step is the identification and valuation of the asset to be tokenized. This value is then divided into digital tokens, a fraction of the total that becomes fractional to allow the purchase in small parts.

Then, the second step is to comply with the laws and regulations that are represented through special purpose vehicles. They allow guaranteeing the correct backing of the asset and that it is transferable according to local laws.

The creation of smart contracts for this commercialization is the third step. They are executed, as is known, through the blockchain in an automatic and secure manner.

The fourth step is the selection of the blockchain platform for the issuance and management of the tokens. The Ethereum, Polygon, and Solana platforms are known, among others.

M.Pino

Source: cripto247

(Reference image source: Shubham Dhage in Unsplash)

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In a recent update, the World Bank (WB) revised down its projections for China’s economic growth in 2023. Growth is now estimated at 5.2 %, marking an adjustment with respect to the previous forecast of 5.6 % made last June.

The Washington-based institution also revised up its forecasts for 2024, raising China’s Gross Domestic Product (GDP) growth from 4.4 % to 4.5 %, indicating an optimistic outlook for next year.

The report highlights the prospect of a protracted recovery in the housing sector and persistently weak external demand. The government is expected to maintain a moderately expansionary fiscal and monetary stance in 2024 to support growth.

The World Bank points to “structural constraints” to growth, including “high debt levels“, “ageing populations”, and “lower productivity growth.” It also identifies “significant risks”, such as a possible prolonged slowdown in the real estate sector, increased geoeconomic tensions and the impact of climate change.

Mara Warwick, World Bank Director for China, Mongolia and Korea, stressed that the easing of macroeconomic policy has supported the short-term recovery, but stressed the importance of

Complementary structural reforms to boost confidence and revive the momentum for growth. Improving China’s debt resolution framework and strengthening the enabling environment for private business are crucial, Warwick said.

During the third quarter, the world’s second-largest economy recorded an increase of 4.9% compared to the same period of 2022, still marked by the aftermath of the already dismantled national policy of ‘zero Covid’.

Beijing had set an official growth target of “around 5 %” for this year. Amid threats such as the housing crisis, local government debt risks, slow global growth, and geopolitical tensions, Chinese authorities have sought to counteract the weak post-pandemic economic recovery in recent months.

K. Tovar

Source: Bancaynegocios

(Reference image source: Alexander Grey, Unsplash)

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The United Arab Emirates, in step with its plans to become a cryptocurrency and technology hub, will begin requiring real estate agents to issue warnings regarding money laundering to authorities.

The government is seeking to take drastic measures to ensure that any real estate transaction must be reported to money laundering watchdogs if they use virtual assets, or funds derived from virtual assets, even for a fraction of the value of the house.

The new regulation will allow little room for illegal practice through cryptocurrencies, which could lead to a negative result within the real estate sector if it were to occur.

These measures are also aligned with those of the International Financial Action Task Force, which establishes global guidelines that seek to combat money laundering and terrorist financing.

K. Tovar

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Source: Diariobitcoin

La entrada UAE wants to prevent crypto money laundering apareció primero en Bitfinance.

Evergrande, a Chinese real estate company, suspended the listing of its shares on the Hong Kong stock exchange, as well as its two subsidiaries: the real estate management company Evergrande Property Services and the electric vehicle manufacturer Evergrande New Energy Vehicle, due to the financial situation that The real estate giant has been reporting.

The information was provided by the Shanghainese newspaper The Paper, which also noted that “Evergrande would have closed the sale of its 30 % stake in a developer in the eastern city of Nanjing”, in Jiangsu province, but admitted that the details are unknown. Details of the transaction.

It was also learned that the real estate giant held meetings with “creditors of an onshore bond estimated at 4,000 million yuan, which is equivalent to about 628 million dollars, where it was agreed that the cancellation of interest accrued between September 2020 and 2021 would be It would take place next September 2022.

It was also released that the Evergrande company must cancel a bond listed on the Singapore Stock Exchange for an amount equivalent to 2,100 million this Wednesday, March 23, 2022.

Evergrande’s financial deficit

In the middle of last year, mistrust arose over the financial status of the real estate complex, since it had accumulated liabilities of more than 300 billion dollars. These fears increased when it began to show signs of inability to cancel the payments of its “offshore” bonds.

Agencies specializing in risk rating such as Fitch revealed, last December, that Evergrande and other Chinese developers such as Kaisa were not paying their debts abroad. The financial situation of many Chinese real estate companies worsened after Beijing announced, in August 2020, the restrictions on access to bank financing for companies that had accumulated a very high debt, as is the case of Evergrande, which for years were supported with “aggressive leverage policies.”

M. Rodríguez

Source: bancaynegocios.com

La entrada Evergrande suspends listings on the Hong Kong stock exchange apareció primero en Bitfinance.

The website for the purchase, sale and rental of real estate TuInmueble.com and the main electronic commerce platform in Venezuela Mercado Libre will merge in one single platform, starting in July, with the aim of optimizing and updating real estate publications in the country.

With the integration of both portals, it is estimated that monthly visits will increase to about 1.6 million, maintaining its leadership. Fact that implies some technological improvements of the product, which will allow to provide the user with a better browsing experience.

With the shutdown of the TuInmueble.com portal, a much more sublime experience in the real estate branch begins for users, who will be able to access the Real Estate section from the Mercado Libre platform, in the menu,

The integration will allow you to enjoy all the options of the real estate sector, having the possibility of selling, buying or renting a property. You can also hire services or purchase products that allow you to transform your space and make it that ideal place.

In addition, Mercado Libre technology will allow to improve the user experience, through the activation of products such as featured publications, Official Stores and Showrooms, where exhibitions of the different properties will be achieved in an original and striking way.

M. Rodríguez

Source: bancaynegocios.com

La entrada TuInmueble.com will merge in a single platform with Mercado Libre apareció primero en Bitfinance.