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O’Meara Lands a Real Estate Titan
The deal is one step in creating a global, real-time secondary market for tokenized real estate.
Editor’s Note: Tokenized real estate is talked about as one of the biggest opportunities for DLT transmogrification. Yet, valuing real estate is far more challenging that valuing a public company, making the creation of around the clock secondary markets a gargantuan challenge. Expect more deals such as this one by those creating solutions. As always, if you have news of your own drop us a note at “email@example.com”.
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Detroit-based Inveniam has been one of the key tech platforms for the tokenization of real estate assets. Now it will also provide piping for real estate services provider Cushman & Wakefield. The New York City-based company will use the Inveniam blockchain platform to manage data used in appraisals and transactions that is provided to clients across the sixty countries in which it operates.
Patrick O’Meara, Inveniam’s Chief Executive Officer, said that the technology will be used to deliver middle-office capabilities to Cushman & Wakefield. That capability creates the “potential to rapidly accelerate the tokenization of real estate assets,” he added.
Rob Skinner, executive managing director and Cushman & Wakefield’s U.S. lead for valuation and advisory, also contends that the platform will ease the trading and tokenization of private real estate on secondary markets used by major financial institutions.
One key way the technology will help tokenization is in simplifying real estate appraisals and transactions by cutting down on the number of intermediaries and duplication of efforts. Faster and more efficient appraisals have the potential to allow real-time global trading of tokenized real estate while still providing transparency into the assets.
The platform will provide “real-time data surveillance” and transform the way asset data is credentialed, extracted, structured and delivered for clients – providing better data quicker, according to Sal Companieh, chief digital and information officer at Cushman & Wakefield. He added that the platform will provide additional opportunities for clients that need reliable data.
Source: Cushman & Wakefield Release
Patrick O’Meara, CEO of Inveniam
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