Forbes reports that U.S. investors can now use blockchain tokens to acquire pieces of a luxury student residence called “The Hub” in South Carolina. The site claims this is “the first tokenized REIT in the U.S,” and says that investors can buy a chunk of the estate for a little as $21,000. While the software is superficially similar to cryptocurrencies, the company says their code “has added layers of code to the tokens to ensure any transactions comply with know-your-customer laws and other such regulations.”



The buyers will receive tokens that amount to securities, which they will eventually be able to sell on cryptocurrency exchanges. According to Josh Stein, who is the CEO of a company called Harbor that designs the real estate tokens, the blockchain process is superior because it has fewer transaction costs – such as lawyers’ fees – than traditional property sales. “Think of it like the transition from snail mail to email that occurred in offices in the 1990s. The content was the same but the digital format made it faster, cheaper, and easier to send,” he said.

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Source: [H]ardOCP – Investors Can Buy Real Estate With Blockchain Tokens