Thursday, October 4th was a significant date in the crypto calendar. It was announced that Smartlands – a stellar-based platform – formed a partnership with one of the biggest and most prominent real estate companies in the world; Colliers International.
During the announcement, it was revealed that the partnership aims to help explore the potentially endless chances of securitizing real estate in the digital world. Smartlands will use properties owned by Colliers to help build a blockchain network that’s specifically for real estate. Alongside this, it was announced that Smartlands will try to introduce businesses from the manufacturing and agricultural industries on the blockchain as well.
The significance of this partnership cannot be downplayed or overlooked. Colliers is a brand that’s known all over the world. If you have even the smallest interest in real estate, then you’ve probably heard of hem before. They focus mainly on commercial real estate, but their property portfolio expands over nearly 70 different countries across the globe – this amassed to approximately 2 billion square feet of real estate! To have a company this large working with a blockchain platform; it’s potentially revolutionary for both industries.
The CEO of Smartlands is keen to explore how this new platform could change the way the real estate market functions. As of right now, it’s found that legacy financial institutions have something of a stranglehold on the industry. They make it incredibly hard for anyone to create liquidity for any type of property. Furthermore, they’re so set in their ways that any new technologies have been avoided for years on end. With the Smartlands and Collier’s partnership, there’s a more modern approach in place. By using a blockchain platform, real-world assets can be tokenized, solving a range of existing problems that the real estate industry is facing.
Colliers are very keen to work with Smartlands as their Stellar-based platform is perfect for asset tokenization. They recognize the sheer plethora of real estate assets that are perfect for tokenization. This is a concept that has been spoken about before. People within the real estate real are quick to point out how effective this can be. The main issue is that there aren’t many companies capable of turning the concept into reality. However, with Smartlands and Colliers now working together and sharing resources, it’s set to blow the industry wide open. More and more companies will look to try and follow suit, which will change the way things are done forever.
Smartland’s Platform currently runs on Stellar Lumens, which is 6th in the list of the largest cryptocurrencies in the world. It’s suggested that this move won’t just benefit the real estate industry but could also see an improvement in the value of Stellar as well.
What do you think? Is this partnership a good idea? Should more blockchain platforms look to adopt this approach and seek out partnerships with real estate companies? With the current state of the crypto market looking rather bleak, big news like this could be precisely what’s needed to kick things back up a gear.