Dostęp otwarty
FROM KUDURRU TO TOKEN. THE REAL ESTATE MARKET'S PATH TO TOKENIZATION
Mateusz A. BONCA1
Język publikacji: angielski
artykuł naukowy
Transformacje Nr 4(123)2024, Data publikacji: 30 grudnia 2024r.
Słowa kluczowe: Blockchain - real estate token - kudurru - rituals in real estate - distributed ledger technology
Streszczenie The main questions posed in the text are the following: can the economic power of the blockchain network overcome a thousand-year-old tradition of state power controlling real estate transactions and hence this power will soon be unnecessary, or will legal supervision over real estate remain? Maybe we will only observe a process of hybridization of economic structures, which will result in the traditional rules for purchasing real estate being supplemented with new rules of operation in the network (e.g. blockchain, smart contracts). As a consequence, traditional institutions related to real estate (e.g. land and mortgage registers, notarial deeds) along with new, digital ones will only share their tasks among themselves in a new way? When analyzing the problem, the author relies on the arguments of token economics, as well as the economic and legal history sources. To determine what values are important in real estate trading from ancient times to this day, he uses examples from economic history and compares them with blockchain and tokens. He claims that it is therefore not certain whether real estate tokenization will remain ephemeral or will take over the market.
PhD in Economics, Chief Executive Officer JLL Poland, a multinational real estate advisory company, earlier at Grupa LOTOS S.A., where he was the President of the Management Board, as well as Deutsche Bank AG in Frankfurt and Peppers and Rogers Group Middle East in Dubai. He has extensive consulting and advisory experience, having spent the first stint of his career at McKinsey & Company. He has led many transformation programs in Poland as well as Germany, Czech Republic, United Kingdom, Belgium, Italy, Portugal, Spain, United Arab Emirates, Saudi Arabia, Bahrain, South Africa, and Turkey
ORCID: 0009-0002-1529-5692
E-mail: no