Hi @creativeblue,
A complicated topic beautifully explained, really an eye-opener this blog post is!
Albeit the benefits outweigh the disadvantages, this tokenization will never become a reality but for the following reasons.
- High security.
- Decentralization.
- Low transaction fees.
These factors maybe advantageous to us, but will not go hand in hand with the government policies and hence this tokenization will be left in the lurch.
Adding to the woes are the recent crypto scams, which are becoming stumbling blocks to the blockchain technology. The setback came from India with the country declaring crypto as non-legal tender and if more and more countries follow suit, nothing can be done, but at the same time this also will not happen immediately.
The concept of decentralization unplugs the control a country has on its general public in the financial perspective and the very same factor that happened to be our advantage became the government's disadvantage!
Let's hope that better times will come for crypto thereby creating a smooth passage for the tokenization of real estate.
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