Yesterday, Hong Kong-based Link REIT announced a partnership with blockchain startup Allinfra for asset tokenization. The two will initially work on a solar power pilot for the tokenization of photovoltaic (PV) arrays installed on Link’s Hong Kong real estate assets.
Link REIT is the largest real estate investment trust in Asia with a market cap of about $24 billion.
Asset tokenization has been explored in the real estate space previously. But what makes Link’s project different is the application of blockchain for creating a distributed energy resource (DERs). With tokenization of the solar project, blockchain can record the financial effect, ownership, and the associated environmental impact. The tokens will be stored on the Ethereum blockchain with Allinfra providing the technology support.
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