Table of Contents
Interoperable Platform Open Finance Protocol Network and Scalable Smart Contract Decentralized Application Platform
(A guide that informs readers concisely about a complex issue and presents the issuing body’s philosophy of Onooks on the matter.)
OVERVIEW
Onooks advocates for building an integrated and interoperable open finance and monetary
protocol matrix serving as a unified liquidity pool and back-bone infrastructure for DeFi and open
finance applications.
Here are some benefits of using blockchain for real estate
⦁ Assets that were reserved for traditional investing can now be tokenized
⦁ The process of selling/buying real estate or a fraction of it becomes very easy
⦁ Because the process gets automated, intermediary costs are nil
⦁ Tokenization ensures global access to assets
These are just some of the benefits that we reap while putting real estate on blockchain. To show that we are not just making it up, here is an example of an apartment that was actually sold as NFT on the Ethereum blockchain.
Way back in 2017, TechCrunch’s founder Michael Arrington paid roughly $60,000 to a company called Propy in the cryptocurrency Ethereum to buy a house near the Dnieper River. When WSJ reported that story, their headline only reflected the sense of awe that they were feeling towards what had just happened. A house was sold entirely online, and the payment was in a cryptocurrency (Ether). Do you think this was crazy?
Devon Bernard, a high-performing tech entrepreneur from California bought that same property from the Delaware-based LLC (through which Arrington originally bought the property) a few weeks ago in a first real estate NFT auction for 36 ETH (approx. $93,000).
