I live in the UK and in general, we have a sense that Europe is innovative as it spends billions of public money investing in startups and new tech companies. However, going through the blockchain initiatives from Switzerland, Germany, and other neighboring countries gives me a sense of embarrassment that I couldn’t hold myself but write this article.
The “authority” of Enterprise Ethereum Alliance did an interesting study on blockchain solutions for real estate and mentioned four “massive” initiatives that are right on the vanguard of innovation.
When you go through them all… well… they are all fake. Maybe not fake, but they are in demonstration mode, not live, not trading, not selling, not nothing… and they have been like that for 2 or 3 years.
In the meantime, a Brazilian bank has already tokenized 15 million dollars worth of real estate in that country and has already paid dividends in 2020.
Europe, what an embarrassment.
The legislation is similar in between all of the countries mentioned in this article (although in Switzerland, apparently, you can’t have freehold ownership of land only on the building on top of it, which is a little strange) but other than that… there is no excuse.
When you have banks being managed by decrepit rich old man you know nothing new will come from it. No innovation, no disruption, no early adoption.
I don’t know about you but if I have my ETH secured by Gemini and by a solid smart contract, I don’t care if the real estate investment is in Brazil or Mongolia… isn’t this the beauty of web 3.0?
Our money is free of boundaries and free of flags. (No wonder the original adopters of BTC and blockchain used to call themselves Cyber-Punks).
Let’s pray together for European investment banks to wake up from the dream guided by conservative cataract-impaired-Austrian-economists-wanna-be bankers who are in charge of our financial system now.
In the meantime… investment in Brazil it is for me.