[ad_1]
Land32 wants to turn land units, be they public or private, into a medium of exchange, effectively creating a self-sufficient market for land financing and investment. Ir proposes this based on the Toda.Network, which was launched in 2018 as a mechanism for companies to take advantage of the promises of the blockchain.
"I spent the best part of my career in real estate investing and, as a result, I came to understand a great knowledge of the earth and its importance; it is one of the most vital natural resources and one of the few resources on this planet that constantly values value. Despite this, it is not perfectly integrated into the financial markets,"Said Daniel Saliba, CEO of Land32.
"The earth is a great reserve of value, it is tangible, indestructible, scarce and finished. When it is tokenised, it becomes a great and stable means of exchange and, in the long run, it could be a good unit of account. However, at the moment, so much land is not used at all, and when it is not used, its value is not realized in any form."
An example of Land32
Canada is the second largest country in the world by land mass. 89% of Canada's land is owned by the Crown (aka the government) on behalf of all Canadians. This does not mean that the massive land resources of the Crown are used optimally.
Meanwhile, Canada also has a foreign debt of over US $ 1. Potentially, or arguably, the Crown's terrestrial heritage – if monetized through a cryptographic representation – could be worth more than $ 8T USA (a figure roughly comparable to all gold never mined).
According to Saliba: "We will start by doing something as simple as linking a square inch of land to the TODA data structure, making it easier to trade. This is currently enabling landowners and property developers to efficiently raise the cost of funding, enabling people to invest smoothly on land and meet regulatory requirements."
The blockchain connection and the Land32 approach
Land32 proposes to establish an immutable record of land and its property. Its logic is that the owners – private individuals, entrepreneurs or government – can have proof of ownership of a piece of land. Moreover, it does not matter whether it is a piece of land large or small, or where it is.
For a project like Land32, blockchain technology opens up possibilities. Blockchains are immutable. They become the public record.
Land32 will create and digitally:
- Capture small divisions of land – from square centimeter
- provide each unit with a cryptographic representation that stores on an efficient and scalable blockchain protocol.
By creating these units, the underlying land resource becomes fungible (transferable and exchangeable). In doing this Land32 hopes to establish a safe market for land exchange. With such a market, owners can unlock the intrinsic value of the underlying land asset. In turn, landowners – be they landowners or real estate or private developers or local and central governments – can benefit from non-traditional financing methods – because the financial sector can get a guarantee against a loan (for example ).
Since Land32 is based on the Toda.Network blockchain, it will be possible to exchange a cryptographic representation of the land with another resource (such as cash, with a sale or loan supported by a proven security). The theory is that these approaches, which could apply to other products or services, optimize transfers and / or exchanges using goods that are under or unused today.
The Toda.Network
Toda.Network has formed and continues to form alliances and supports start-ups and joint ventures. Land32 is the last participant on Toda.Network.
The TODA protocol is a network protocol and a modification of TCP / IP that allows the management and transfer of values on the packet level and under the operating system. It achieves this in a decentralized environment without relying on a ledger. This means that Toda.Network can allow companies and blockchains to scale as numbers increase. The TODA protocol has no permissions. In theory, anyone can build on it.
According to Toda.Networks test data, it can support 1 tps for 800 devices geographically dispersed in a decentralized and unlicensed form. Toda.Network claims that this is equivalent to c 1M tps for 800M user devices. Asserts that the only cost is that of the network itself, without losses to third parties or to a different class of users and in an environment without miners, without cloud, without databases and without servers.
Enterprise Times: what does this mean?
Toda.Network states that its goal is first and foremost security, with efficiency, confidentiality, scalability and enabling of P2P interoperability without any third parties closely following. However, the "readiness" lies in the fact that "exploiting the" know-how "of Toda.Network is only available for projects with significant potential" – through the granting of licenses or the creation of a strategic alliance with Toda .Network. Toda.Network chooses who it will work with, something that may not appeal to many.
More generally, the concept of Land32 is of great interest. The idea of creating small divisions of a previously unusable asset could become interesting for many companies, both as lenders and as borrowers. Imagine being able to get a loan based on your vegetable garden. Or maybe the Italian government could solve its financial problems by borrowing Italian artistic assets. How would you like to lend against 2cm2 of Botticelli's Spring or 2cm3 of Michelangelo's David?
