부동산 토큰 시장의 발전과 과제

Blockchain could solve some significant challenges from investing in the real estate sector, such as illiquidy, lumpiness, inefficiencies, etc. But, the real-world real estate tokens have currently only been available to limited groups and primarily used within intermediate structures. The issues related with tokenization of real-world real estate market are as follows. First, the legal systems varies greatly among countries in the world. Similarly, the conflicting regulatory regimes that prevent the free and international exchange of security tokens may undermine the advantages of tokenization. Second, the intermediate structures, such as special purchase vehicles (SPVs) or funds, which are still regarded as preferable options for tokenization rather than directly tokenizing real estate ownership owing to regulation. Third, the investors demand for security tokens for single real estate assets seems sketchy. Therefore, if the current single-asset tokenization initiatives or platforms were to scale, it would be crucial that secondary trading platforms are developed. In addition, market participants would need to be comfortable with blockchain to invest in single-asset. Fourth, The critical factor limiting the growth of real estate security tokens is the lack of a centralized marketplace to facilitate the trading of tokens. Currently, real estate security tokens are restricted to only being traded on the platform where they are listed. If the platform lacks market depth and a higher number of trading participants, liquidity can become an issue. Lastly, To solve the current real estate sector issues of tokenisation. The role of political will, regulatory framework, availability of reliable digital data, public-private partnerships, and educational aspects in blockchain applications have all been emphasized.