{"id":35430,"date":"2023-03-08T01:25:00","date_gmt":"2023-03-08T09:25:00","guid":{"rendered":"https:\/\/www.yardi.com\/blog\/?p=35430"},"modified":"2023-03-02T13:39:28","modified_gmt":"2023-03-02T21:39:28","slug":"digital-assets-emerge","status":"publish","type":"post","link":"https:\/\/www.yardi.com\/blog\/digital-assets-emerge\/","title":{"rendered":"Digital Assets Emerge"},"content":{"rendered":"\n

A future of instantaneous settlement and no intermediaries is possible with the right infrastructure. Alice Chen, Bernie Devine\u2019s guest on the latest episode of Yardi\u2019s Proptech Insights, is busy building that infrastructure.<\/em><\/p>\n\n\n\n

The world of digital assets is taking shape before our eyes. In December, Larry Fink, CEO of BlackRock \u2013 the world\u2019s largest asset manager with around $8 trillion in assets under management \u2013 predicted blockchain technology would open the door to the \u201cnext generation for markets.\u201d<\/p>\n\n\n

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Tokenisation can provide liquidity to illiquid assets \u2013 and one recent estimate<\/a> suggests tokenising just 0.5% of the total global property market between now and 2026 would create a $1.4 trillion market.<\/p>\n\n\n\n

Alice Chen, co-founder and COO at InvestaX, was a real estate lawyer for many years, dealing with complex transactions \u201cwith a lot of intermediaries, a lot of paperwork and a lack of trust.\u201d<\/p>\n\n\n\n

\u201cI knew, if we could build trust into the process, we could save a lot of money and a lot of time,\u201d Chen told Devine, Yardi\u2019s senior regional director for Asia Pacific.<\/p>\n\n\n\n

With this insight and a desire to \u201cdemocratise the real estate investment process,\u201d Chen established InvestaX in 2015. Today, she and her co-founder Julian Kwan oversee Singapore\u2019s leading digital securities platform.<\/p>\n\n\n\n

Tokenisation is the process in which a digital representation of an asset is created on a blockchain, authenticating its transaction and ownership history. Any asset \u2013 from art to real estate to bonds to carbon credits \u2013 can be tokenised. \u201cAnd anything that has value, once tokenised, becomes a digital asset,\u201d Chen explained.<\/p>\n\n\n\n

Cryptocurrencies such as Bitcoin and Ethereum capture a lot of headlines and headspace, but they are quite distinct from digital securities. Cryptocurrencies are a decentralised medium of exchange that operate independently of central banks or governments. Digital securities, on the other hand, are investment products that are represented in digital form and can only be bought, sold and traded on regulated platforms.<\/p>\n\n\n\n

Metaverse investments and digital securities \u201chave different characteristics, regulatory parameters and tax implications,\u201d Chen emphasised. <\/p>\n\n\n\n

\u201cI agree. The path to success with digitisation of assets is one that is compliant,\u201d Devine added. \u201cBy digitising an asset you also make it easier for software to deal with it… You are not relying on an external third party to stamp a piece of paper.\u201d<\/p>\n\n\n\n

InvestaX is taking the \u201cslow and long road\u201d \u2013 one which is building relationships and advocating changes to often antiquated laws. \u201cThe US test for what is a security is based on case law from 1946,\u201d Chen explained.<\/p>\n\n\n\n

One of the biggest hurdles to real estate tokenisation is the stamp duty or transfer tax applied each time the asset changes hands. But Chen can clearly see a future of instantaneous settlement and no intermediaries.<\/p>\n\n\n\n

\u201cWe have the opportunity in the private markets to introduce an entirely new infrastructure because we don’t have legacy systems. We can facilitate instantaneous settlement… but we can only do this if we have digitally native currencies and digitally native securities. That\u2019s how we think the future will be and that’s why we are rebuilding an entire infrastructure around it,” she said.<\/p>\n\n\n\n

How long will tokenisation take to transform real estate? Download the latest episode of <\/em>Yardi’s Proptech Insights webinar series<\/em><\/a> with InvestaX\u2019s Alice Chen to find out.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A future of instantaneous settlement and no intermediaries is possible with the right infrastructure. Alice Chen, Bernie Devine\u2019s guest on the latest episode of Yardi\u2019s Proptech Insights, is busy building that infrastructure. The world of digital assets is taking shape before our eyes. In December, Larry Fink, CEO of BlackRock \u2013 the world\u2019s largest asset […]<\/p>\n","protected":false},"author":442,"featured_media":35431,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_s2mail":"yes","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2844,5,3354],"tags":[3089,2546],"class_list":["post-35430","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-global","category-people","category-team-yardi","tag-proptech-insights","tag-tokenisation"],"acf":[],"yoast_head":"\nYardi Blog<\/title>\n<meta name=\"description\" content=\"A future of instantaneous settlement and no intermediaries is possible with the right infrastructure. 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