Opinions

Blockchain Last Week, from Solution to Real Estate

More than a Blockchain Solution

The CEO of ProximaX, Lon Wong, revealed that his company is playing on a different layer. He explained that ProximaX is much more than a blockchain solution as now it uses blockchain as one component of its technology. That’s why Lon Wong suggested that ProximaX was a platform solution instead of a blockchain solution. Apart from this, he also mentioned some features that were supported by ProximaX platform. While outlining the features like database and file storing management, he concluded that ProximaX is a holistic platform now and can be used for development of solutions.

Blockchain will be Disruptive in the Future

Gabriel Abed is the founder of Bitt. He is one of the very few people who knew about blockchain’s usage and utility back in time when blockchain was not very common. He is held as the pioneer of blockchain company and stablecoin. Recently, he stated that blockchain possesses disruptive power and capability. He explained that as it is easy to find a developer for a blockchain project instead of website projects nowadays, it can be concluded that a lot of people are directed toward blockchain. He advised startups to not use blockchain just for the aim of making money. Instead, blockchain should be used for its utility and inherent value based systems.

Tokenized Forms of Real Estate Through Blockchain

Blockchain technology has been utilized by different startups to introduce new use cases. The field of real estate also got innovated by blockchain. Patrick Springer, an adviser to Polybird Exchange, explained the concept of tokenization of real estate which will be using blockchain technology. Patrick stated that tokenized real estate will resemble a publicly traded Real estate investment trust (REIT), a company dealing with income-producing real estate. He added that tokenized real estate will allow small investors to comfortably handle the purchase of small buildings or units while reducing transfer cost people have to pay while selling or buying real estate. Moreover, he added that tokenization will lead to an increase in participation of investors.

Fatir Malik

Electrical engineer by profession, turned into blockchain developer. Fatir contributes regularly with his insights about latest developments in fintech sector. Contact the editor at editor.opinions@blockpublisher.com

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