The Philippines joins cities like New York, Amsterdam and Seoul, South Korea as pioneers in digital property investment using blockchain technology.
Two residential condominium properties in Makati City have become the first successfully tokenized properties in the country.
This was demonstrated on the C Estates digital real estate platform by the company’s co-founder and chief operating officer, Eli Becislao. These secondary market properties have been encoded in a global public database using NEM blockchain platform.
Held last 29 August at the Grand Hyatt Hotel in Bonifacio Global City, the conference tackled the legal, financial and security talking points surrounding property tokenization.
Awarded and well-recognized Tech and Securities Law expert, Atty. Mark Gorriceta (Gorriceta Africa Cauton & Saavedra), spoke about the relevant regulations surrounding digital real estate transactions, while Eric Manuel, Investment and Asset Management for the Philippines for Arch Capital, gave an entertaining perspective on the next wave of smart investments in real estate.
For the technology aspect, head of NEM Philippines Emerson Fonseca, was enthusiastic about the potential positive contributions of blockchain technology in Philippine transactions.
In his speech, C Estates’ founder and chairman, Teru Sumida, remarked, “What can change the world is something or someone who will challenge what most people usually believe. Without challenge, there will be no opportunity. So why not? Why not us? We are very much prepared for the challenge of a changing real estate industry.”
Hosted by ONE News Network’s (formerly Bloomberg) news presenter and producer, Shawn Yao, the well-attended event included personalities, founders and executives of real estate and investment big wigs such as Leyte Governor Jose Emerey Roble, Remax Capital, Santos Knight Frank, Lobien Realty, CBRE, Colliers Philippines, Rocket Equities, Berjaya Group and Eurotel Group.