Dig Chain will tokenize real estate and comply with regulations
London, United Kingdom: Peer-to-peer (P2P) crypto lending platform DeFi For You is launching a sovereign blockchain called Dig. The new chain will facilitate the tokenization and governance of real estate, and avoid the problems faced by previous blockchain real estate projects by using Cosmos IBC for jurisdictional compartmentalization.
Real estate tokenization has become a hot topic in the cryptosphere. With $ 280 trillion in property and land to represent on the blockchain, it’s no wonder the projects are working so hard to bring this bridge to life.
“Dig will act as a parent blockchain with many geo-fenced sub-chains, each representing a different jurisdiction and therefore able to comply with local regulations,” said Jacob Gadikian, senior engineer at Dig Chain.
“I’ve worked on two projects to symbolize real estate before and they both failed because they were trying to tackle it on a global scale.”
“I realized that for this to work, it has to be done locally so that the whole project can easily comply with the regulations of different countries and territories.
The future of real estate tokenization
Real estate tokenization could allow instant transfer of ownership of land and property, causing fundamental disruption in industry around the world. The big icing on the cake is the splitting.
“Imagine being able to buy for $ 10 from a hotel in London, $ 20 from a seafront property in Bournemouth and $ 40 from a Victorian townhouse in Nottingham instantly from your phone,” said Adam Chaplin, CEO by DeFi For You.
“Tokenization has the potential to open up real estate investing to everyone, regardless of their economic background.
“And, in addition, they will be able to use the NFTs representing real estate as collateral for a DeFi loan.”
Dig was built using Tendermint, the Cosmos SDK, and Starport. Dig uses inter-blockchain communication to ensure that its token will be widely traded without any dependence on centralized exchanges, as well as to structure Dig’s network of local blockchains.
DeFi For You is a peer-to-peer lending platform built on Binance Smart Chain, and it will be augmented and augmented by Dig.
Dig completed an airdrop proof of concept on 0x addresses using c17, a set of tools developed by Notional Labs in partnership with DeFi For You, designed to facilitate the migration of Ethereum Virtual Machine smart contracts to compatible blockchains. Inter-Blockchain Communication.
Visit digchain.org to learn more.
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