C Estates unveils first tokenized properties in Philippines
MANILA, Philippines — The Philippines joins cities like New York, Amsterdam and Seoul as pioneers in digital property investment using blockchain technology.
Two residential condominium properties in Makati City have become the first successfully tokenized properties in the country.
This was demonstrated by Eli Becislao, co-founder and chief operating officer of C Estates, on the digital real estate platform. These secondary market properties have been encoded in a global public database using NEM blockchain platform.
Held last August 29 at the Grand Hyatt Hotel in Bonifacio Global City, the conference tackled the legal, financial, and security talking points surrounding property tokenization.
Awarded and well-recognized Tech and Securities Law expert, Atty. Mark Gorriceta of Gorriceta Africa Cauton & Saavedra spoke about the relevant regulations surrounding digital real estate transactions. Eric Manuel, of Investment and Asset Management for the Philippines for Arch Capital gave an entertaining perspective on the next wave of smart investments in real estate.
For the technology aspect, Emerson Fonseca, head of NEM Philippines, was enthusiastic about the potential positive contributions of blockchain technology in Philippine transactions.
In his speech, Teru Sumida, founder and chairman of C Estates, remarked, "What can change the world is something or someone who will challenge what most people usually believe. Without challenge, there will be no opportunity. So why not? Why not us? We are very much prepared for the challenge of a changing real estate industry."
Hosted by ONE News Network's (formerly Bloomberg) news presenter and producer, Shawn Yao, the well-attended event included personalities, founders and executives of real estate and investment big wigs such as Remax Capital Chairman Kerwin Yu, Sammy Young and Deluck Boonsirithum of Arcya Corporation, Bryan Kenneth Uy of W Group, Sheila Lobien of Lobien Realty Group, Akarsh Dhaiya of Rocket Equities,Santos Knight Frank, CBRE, Colliers Philippines and Eurotel Group.