Real estate and property tokenization projects and initiative have been getting attention from developers around the world. Recently in Malaysia, Tezos Southeast Asia has come forward and introduced their upcoming project with TokenSoft in tokenization of real estate and property.
On the other hand, in Hong Kong, a real estate developer Stan Group has announced a deployment of a private blockchain in pursuit of rewarding employee by providing a platform on tokenized real estate and property. Associated with smart contracts, a “Brick” is used as a token for a specific property and brick owners are entitled to a share of the capital gain.
Currently, the firm has one property in the platform with a plan to add more as they move forward. The Buy-a-Brick program is a substitution and an improvement to a current employees’ benefit program in Stan Group. Subsequently, points earned by employees can now be used to acquire a Brick, or a token representing a property.
Stan Tang, Chairman of Stan Group said that the firm is thrilled to launch the program to redefine employees’ recognition and appreciation and that their vital role in the making of the company is well-rewarded.
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