Elevated Returns, which specializes in digitization of diverse traditional financial assets, has chosen the Tezos blockchain platform to offer its real-estate offerings. The company is planning to tokenize real estate worth $1 billion in total and store the data in the blockchain.
Elevated Returns president Stephane de Baets believes a token based on Tezos is the best solution given the company’s plans to conduct a lot of high-profile transactions. As a result, the technological component of the product must not be compromised in any way.
Stephane de Baets said in the press release:
"We are thrilled to select Tezos to provide investors with the highest security and compliant tokenized real estate offering experience possible. Having worked closely with regulators and local authorities around the world, we understand the need for the highest security and compliance features. There is no better solution than working on a Tezos-based token implementation."
According to the report, Elevated Returns sold St Regis Aspen Resort hotel in Colorado for $18 million via blockchain in October 2018. Then, however, the company used the Ethereum blockchain to close the deal. It switched to Tezos as its blockchain suits assets tokenization the best.
Tocqueville Group will assist Elevated Returns in selling real estate through the blockchain, said its president Alison Mangero. In his opinion, such implementation of the technology shows the possibilities it provides in the real world.
In the frame of the project, Elevated Returns will also team up with Securitize, a startup which focuses on issues connected with legal compliance in the tokenized assets segment. It will help ensure that any asset placed by Elevated Returns on the blockchain meets all regulatory requirements.
"We have a number of very high-profile deals lined up and we could not afford to compromise the technological product. With the Tezos-powered solution and its integration in the Securitize portal technology, we feel we have a total solution," noted Stephane de Baets.
Given the experience of cooperation with regulators in different countries, the company understands that it has to ensure a high level of security and compliance with legal requirements. Stephane de Baets is sure that with the integration of Tezos in Securitize they will manage to get a complete solution.