Ripple’s central bank digital currency (CBDC) advisor Anthony Welfar said that the company is considering tokenising real estate. On his Twitter, he emphasised the growing global interest in this area and said that the team is focused on real-world scenarios using CBDC and stablecoins.
Using blockchain and digital currencies, Ripple aims to overcome current obstacles and unlock new prospects in the property sector.
One of the key use cases presented by Welfar at a recent fintech conference in Romania involves a combination of the digital Hong Kong dollar (e-HKD), tokenised real estate and a financial lending protocol. This innovative pilot programme will allow real estate to be tokenised as collateral for loans using Ripple’s CBDC platform.
Media reports that tokenisation is attracting the attention of investors in various sectors. This innovative approach involves converting tangible assets such as real estate, artwork and intellectual property into digital tokens that are securely stored on a blockchain.
These tokens serve as a digital representation of ownership rights or stakes in an underlying asset, enabling buying, selling and trading on decentralised platforms. The growing fascination with tokenisation stems from its ability to revolutionise traditional asset ownership and investment models.