Home CryptoCurrency News SmartCrowd Integrates The Tezos Blockchain to Revolutionize Real Estate Investments in MENA

SmartCrowd Integrates The Tezos Blockchain to Revolutionize Real Estate Investments in MENA

SmartCrowd has integrated the Tezos blockchain platform to revolutionize real estate investment in the Middle East and North Africa.

SmartCrowd, a Dubai-based parent group of the DFSA-regulated property investment and technology platform SmartCrowd Limited, announced the news in a press release on Tuesday, May 4th. SmartCrowd said that leveraging the open-source Tezos blockchain platform would empower people to crowdfund investment in real estate using blockchain technology and cryptocurrencies via the Tezos network.

SmartCrowd is the Middle East and North Africa’s (MENA) only regulated digital platform for real estate investments. SmartCrowd users can invest in real estate projects from as little as 5000 dirhams.

According to the announcement, the company has signed a first-of-its-kind deal with Tezos Gulf Technologies, a Dubai-based platform to support the growth of the Tezos ecosystem in the Middle East. The deal aims to revolutionize real estate investment by tokenizing the real estate assets.

Siddiq Farid, CEO and co-founder of SmartCrowd, commented:

“As a fully licensed and regulated business, it is essential that we use technology that enhances trust, transparency, and efficiency. By using the Tezos blockchain, we are empowering our investors and providing an even better service that aligns with our core values. This announcement underlines our commitment to pioneer the way people invest in real estate using the very best technology.”

Assets like real estate can be registered in a tokenized form on the Tezos blockchain. These tokens can then be traded as Security Tokens through Security Token Offerings. These are regulated trades that can only be made through regulated platforms such as SmartCrowd.

According to the company, Tezos blockchain technology will offer three main benefits to its investors. First, it will provide greater transparency for investors through smart contracts. Second, fast and secure transactions on the Tezos network will provide investors with a frictionless buying and selling experience, ensuring that each transaction is reflected instantaneously on the SmartCrowd dashboard.

Third, it will provide greater liquidity to SmartCrowd investors by minimum investment thresholds. SmartCrowd already allows investors to invest in real estate projects from as little as 5000 dirhams.

Tezos is a Proof of Stake (PoS) network that uses significantly less energy than Proof of Work (PoW) blockchains, making it more sustainable and environmentally friendly. SmartCrowd partner, Tezos Gulf Technologies, is working for the adoption of the Tezos Blockchain Platform.

Waleed Rassuli, Head of Tezos Gulf, added:

“We are pleased to see the growing adoption of Tezos to securely manage assets in the Middle East. Being an environmentally friendly platform, Tezos’ proof of stake options are tailor-made for managing asset classes of all types and sizes from institutional to retail in this region.”

If you found this article interesting, here you can find more Tezos News

Atiq Ur Rehman
Electronics Engineer with a passion to write about Disrupting Technologies like Blockchain. He joined Crypto-Economy in July 2019.
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