Coinweb continues its mission in delivering blockchain technology to traditional businesses with the global real estate brand Coldwell Banker. Development has already begun on the platform, with a product release in beta planned for Q3 2022.

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The project will see Coinweb develop and support cross-chain token issuance pertaining to both luxury residential and high-end commercial property portfolios of Coldwell Banker's significant customer base, launching in Thailand in the first instance as a pilot.

Coinweb will issue cross-chain governance tokens that map down to the underlying asset's income, enabling stakeholder voting rights on distribution and, furthermore, cross-chain security tokens mapping down to asset ownership. This will deliver a lower barrier to entry to a wider pool of investors seeking returns from luxury properties with higher yields. Stage 2 of the project will see the implementation of parallel smart contracts being executed in the Coinweb layer, streamlining compliance checks, and automating aspects of corporate action management.

Coldwell Banker's tokens will be publicly tradable and retain cross-chain characteristics to maintain stability in mitigating risks of fluctuating gas fees and other scaling issues such as network speed. Once the pilot in Thailand has been proved, Coinweb will be introduced to the property group's other territories around the world, where the regulatory framework supports the project.

Though still at its nascent stage, real-estate tokenisation has been regarded as a major step in unlocking liquidity, along with increasing data transparency, automating substantial manual conveyancing and document notarization that will deliver higher efficiency and fewer errors--with an ultimate aim of reducing settlement times, hefty processing fees and providing better security.

According to Ms. Napatkan Chaiwichit, Managing Director of Coldwell Banker Thailand, "We see real-estate tokenisation as the pivotal point for next-generation wealth-management, hence our initiative in working towards this direction with Coinweb's layer 2 blockchain infrastructure. We envisage significant opportunities arising from enabling fractional investment and ownership, driving demand in both the primary and the secondary market, which is crucial in unlocking liquidity that real estate has always been associated with, especially in the luxury property arena. The potential to explore and fully leverage blockchain technology is real and very promising. We expect real estate investment to be invigorated by allowing access for new investors to buy into yielding quality assets."

"The real estate space has always remained a high-value sector yet with legacy processes, high fees and illiquidity. Our partnership with Coldwell Banker aims to solve these pain points." Coinweb CEO Toby Gilbert commented. "After Thailand, and once the project is proven, it will be introduced to the different territories where Coldwell Banker maintains a presence around the world. Our team is ready and super excited to deliver on real-world blockchain use in partnership with a global brand."

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