C Estates, a Philippine firm that offers an end-to-end solution for tokenizing property listings using blockchain, recently announced its readiness to launch services that will let investors access tokenized properties in the growing market, according to a report by the Manila Standard.
Teru Sumida, Founder and Chairman of C Estates, revealed during a press conference in Manila on August 27th, 2019 that the firm is taking on the unique role of introducing blockchain technology to investors interested in taking part in the real estate market in the Philippines.
“What can change the world is something or someone who will challenge what most people usually believe,” said Sumida. “Without challenge, there will be no opportunity […] We are very much prepared for the challenge of a changing real estate industry.”
The company also disclosed that two condominium projects in Makati City have become the first tokenized properties in the Philippines. According to Eli Becislao, Co-Founder and COO of C Estates, the properties are being offered on the firm’s database on the NEM blockchain.
At the press conference, C Estates confirmed that the way it tokenizes properties are in line with the processes adopted among financial institutions for monetary assets. The blockchain-powered platform allows transactions to be made between all stakeholders of the real estate listings.
Meanwhile, the event gathered experts in the real estate industry to discuss issues such as regulations on digital real estate transactions, as well as industry insights into the direction of property investments in the Philippines.
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