Earlier this month, Building 4 of the Upper Riverside Development in London’s Greenwich Peninsula district became the first real estate project in the city to be tokenized. Through the division of the building into digital tokens and the sale of those tokens, the Hong Kong based developer Knight Dragon expects to raise $1.67 million (£1.4 million) in exchange for an 80% share of the building’s future profit. This blockchain approach to financing buildings is attracting increasing interest and these types of projects could lead to a seachange in real estate financing, driving smart technology adoption. “At a corporate level, Knight Dragon has just revolutionized the entire European property market and will now move to do so internationally. At an individual level, for a relatively modest investment, individuals can own a piece of Central London real estate profit,” says Sammy Lee, Founder and Vice Chairman of Knight Dragon. “In the same way an asset can be securitised […]