Aave platform is ready to issue mortgage loans
You can buy real estate with RealT tokens
The Aave platform will provide loans for the purchase of housing, equipment or recreation
Cryptocurrencies already are a means of payment in the real world
International consortium news organizations, developing transparency standards.
Tokenized real estate on RealT
Most recently, the Aave V2 platform announced Tom, what intends expand its presence in the markets and launch immediately some new functions. One of the new projects of the platform was cooperation with the RealT project, which the was launched in 2019 year as one from the first projects on tokenization real estate on Ethereum and integration into the ecosystem DeFiDecentralized finance (DeFi) – this financial services based on technology blockchain, which offer users access towards an open, efficient and… More. RealT allows investors directly buy shares in the property management LLC and each RealT token holder regularly earns their share of the property income directly into their wallet using stablecoins.
“On the market Aave RealT users will be allowed to make their tokens into the Aave protocol and use them as collateral for borrowing stablecoins, opening up new use cases for their assets”, – says the message Aave.
The ability to use RealT assets as collateral makes mortgage loans for Ethereum accessible to more a wide audience. In other words, RealT will provide its tokens to the Aave platform with subsequent issuing them to users for the purchase of real estate, equipment for home and garden, travel, etc.
In the near future, the organizers of the RealT service are ready to launch functions for private real estate tokenization. This means that ordinary users will be able to buy or sell real estate through the blockchain by converting property rights to real estate into tokens..
“The real estate market is unstable and prices may change and RealT price updates must be accurate and consistent with the real world real estate market. For Togo , to ensure that these feed prices are correct, Aave uses Chainlink to provide a decentralized oracle service, ”explains the company..
Despite the opening prospects, market tokens that are tied to real estate, also subject to risks. AND main of these is the fall of the real estate sector during crisis situations. For example, in time 2008 real estate crisis USA decreased by almost half. The company declares that it takes into account possible risks, and has already developed a mechanism for their leveling.
“These tokens (RealT – auth.) Are not publicly traded. Their purchase requires passing the KYC procedure, and the selling process is complicated. Liquidation will be difficult and time consuming, so a low liquidation threshold and a high liquidation bonus will be required, ”the company said in a statement..
Cryptocurrencies can replace fiat money
Coronavirus epidemic has contributed to faster adoption cryptocurrencies as payment funds. Today certain cryptocurrencies such as MTC, ETH, Dash, Ghost, ZYX Network can pay for goods in vending machines of the IVendPay company, buy expensive things, transport and even real estate.
Previously BeInCrypto reported that the main cryptocurrency bitcoin has long been used as a means of payment on real markets. For example, for bitcoins you can buy a yacht, plane, real estate for all world, jewelry and much more.
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