GoDeedly
In July 2021, Wyoming passed a law legalizing the activities of Decentralized Autonomous Organizations (DAOs) registered in the state, thereby recognizing them as Limited Liability Companies (LLCs). This law also exempted such blockchain-based entities from paying state taxes.
About a month later, CityDAO, a group of about 6,000 Investors purchased 40 acres of land in Clark, Wyoming.
Watch Scott Fitsimones (Scott Fitsimones), Founder of CityDAO, have a chat with Paul Vigna(Paul Vigna) of WSJ about CityDAO becoming the first DAO to own land, using the new Wyoming DAO LLC law.
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08/15/2022
Despite the drop in value in most cryptocurrencies, there is an increasing number of developers, business leaders and other early adopters that are still sticking to their guts.
There is also a growing movement of not just buying and selling properties with crypto, but the distribution of physical assets in digital formats. These physical assets can be created into tokens and sold instantly through online markets.
For clarity purposes, the process of tokenizing traditional assets is a more secure way to transfer ownership, and it unlocks liquidity in otherwise illiquid markets.
Although Samuel Grossman believes tokenization is key to maximizing the potential of blockchain technology and decreasing market volatility, he opines that the volatility is a huge cause of concern for the process.
Will tokenization stand the test of time? Why can’t US investors enjoy the same privileges as their foreign counterparts in tokenization processes? Let us know in the comments.
How is blockchain disrupting real estate? There is so much untapped potential through the tokenization of real estate or the implementation of secure transactions through our platform and more to come...
Watch Felix Chan, Realtor & Mortgage Broker, talk about how Blockchain is revolutionizing the Real Estate Industry in unprecedented ways.
Credits to Felix Chan - Realtor & Mortgage Broker for the great breakdown.
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