Do you support real estate tokenization?
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- Yes!
- No
- This topic has 1 reply, 2 voices, and was last updated September 22, 2023 at 10:45 am | by
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- Fubon Bank and Ripple collaborate on a real estate tokenization initiative in Hong Kong.
- The project aims to leverage blockchain technology and digital currencies to enhance efficiency in property transactions and lending procedures.
- Fubon Bank will utilize Ripple’s Central Bank Digital Currency (CBDC) platform to tokenize properties and issue loans using digital Hong Kong dollars.
- Existing customers eligible for additional mortgage loans will be prioritized during the testing phase.
- Through Fubon’s eHKD electronic wallet, customers will have access to real-time loan information and relevant data.
- The pilot program does not involve issuing digital Hong Kong dollars, but Fubon Bank will maintain its existing mortgage loan services.
- Ripple’s extensive experience in similar technologies is highlighted, and the use of digital Hong Kong dollar loans is seen as a practical application to encourage widespread adoption.
While there are a couple benefits such as enhanced efficiency and reduced costs, there may be some concerns regarding volatility or access barriers. Wondering if anyone has any opinions on the matter?
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