Telos has announced that it will partner with the Dapp Katalyo development platform to encode Croatian real estate worth $ 35 million.
Telos – one of the world’s most active companies in terms of transactions – said Katalyo will issue two different tokens for each participating coastal property. One of the tokens would represent real estate ownership and the second would be a securities-based stable currency generated from rental income.
Telos co-founder Ivica Ljubicic described Telos as “well suited” for real estate encoding, and moving to blockchain could help attract investors to the Croatian real estate market.
Douglas Horn, chief architect of the Telos blockchain, predicted that a partnership with Katalyo could lead to an “explosion of new token projects”.
“We are at the beginning of coding to revolutionize the real estate industry.”
Telos is a smart contract platform that supports the creation of decentralized applications and decentralized autonomous organizations that run on EOSIO, the software on which the EOS blockchain is based. According to Blocktivity, it is the second most active blockchain with more than four million users in the last 24 hours.
Encrypted real estate increased in the early stages of the pandemic as many searched for solutions online. The price rose 4.27% in April. However, industry professionals like Matthew McCauley, director of global research at JLL, said he doesn’t believe the blockchain is “used or useful” in real estate as expected.