Chainlink is set to power a tokenized real estate platform serving the Latin American property market. LaProp will allow investors to buy tokenized shares in various real-world properties, which will yield a percentage of income from rental payments. The tokenization of global property markets has been an ambitious goal of the blockchain space, and decentralized finance (DeFi) could offer a novel solution for the sector to pick up the pace. LaProp will look to leverage Chainlink Keepers’ node operators’ track record in securing billions of dollars invested in DeFi markets. The decentralized automation service carries out tasks for smart contracts on the BNB Chain and, in this instance, will automate secure rental payouts to token holders.
Chainlink’s ability to handle smart contract functions will see rental paid by tenants automatically distributed to multiple token holders of the given property. Payment terms and schedules can also be edited per property. The idea of tokenizing real estate ownership is not novel, but the promise of a tried-and-tested service to manage rental payments and property ownership has the potential to attract renewed investor interest. While other industries have seen blockchain-powered platforms and services flourish, the tokenized real estate market is yet to boom, with just a handful of operating platforms that allow users to acquire ownership of the property through tokenized shares.