UAE-based leading operator of a real-estate crowdfunding portal Aqarchain will launch the first UAE homegrown end-to-end blockchain platform for the tokenization of the real estate market built on Tezos Blockchain.
Aqarchain is a fully owned subsidiary of SmartChain that builds innovative products and solutions using emerging technologies such as Blockchain, AI, ML, IoT (Internet of Things), and so on. It is regulated by the Dubai Finance Services Authority (DFSA) in the DIFC (Dubai International Financial Center).
According to the company statement, “Driven by the need to create innovative solutions in promising economic sectors, Aqarchain built a real-estate crowdfunding tokenization platform to help democratize investment in one of the most promising sectors, real-estate, in a safe, regulated, and efficient manner.”
“We are proud to be on the verge of launching one of the most innovative solutions that will revolutionize the way people invest in real estate using crowdfunding and tokenization through digital assets. This has democratized investments while allowing the digital trade of real-estate assets in a more seamless, secure, efficient, and quick manner. We have developed not only a state-of-the-art property listing portal with a mobile application for retail users, which will be live on July 1st, 2021 allowing developers and brokers to get a free listing and sales management platform, but, we have also developed our crowdfunding self-tokenization platform for properties which allows fractional ownership of properties. Together these two platforms will revolutionize real estate investments.”
Aqarchain is built on the Blockchain Tezos platform, which is Sharia-compliant and has a high-security level. Tezos is one of the most popular blockchain platforms and it is a decentralized, open-source, energy-efficient Proof of Stake blockchain network that can be used to conduct peer-to-peer transactions and as a platform for smart contract deployment. The native cryptocurrency for the Tezos blockchain is the tez which has the symbol XTZ.