Berlin-based Brickblock Tokenizes Property in Europe in Private STO

Brickblock, a technical service provider based in Berlin, has tokenized a residential real estate vehicle carrying a EUR 2 million property in Wiesbaden, Germany. The sale was exclusive to eligible investors.

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Berlin-based Brickblock is claiming they have done the first transaction in the European Union for fractionalized ownership tokens – in which real estate shares are registered as digital tokens on the blockchain and entitle token holders to the economic benefits of the underlying real estate asset (e.g. dividends from rent, interest, principal distributions). The token sale was for accredited investors only. 

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“Blockchain is at the forefront of technology and has the potential to create a more efficient and globalized financial system. I am excited about the future impact of tokenization,” said Brickblock CEO Jakob Drzazga. “Once a property, real estate fund, or financial instrument is tokenized, the real advantages come into play: subsequent transactions are instant, nearly free of charge, and, if done properly, without counterparty risk. This is an absolute game-changer for the industry.”

While the real estate industry has been slow to transition from paper-based to digital processes, Brickblock’s proprietary technology and legal framework have provided a real use case to accelerate this shift.

Axel von Goldbeck, Partner at the global legal business DWF, added:

“The Wiesbaden transaction is further evidence of the great flexibility of tokenization and its potential to make illiquid assets liquid. Brickblock’s approach in tokenizing various financing instruments – in this case tokenizing SPV share participation – reflects the broad variety of applications for tokenization in the real estate market.”

Brickblock is a business-to-business (B2B) funds-as-a-service technology platform that provides fund managers with blockchain-based investment solutions. One of the next projects on Brickblock’s horizon will see Peakside Capital, a leading real estate investor in Germany, utilize the company’s technical infrastructure for an AIFMD compliant, income-focused real estate fund targeting German properties.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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