Historically, all land and real estate operations have been instructed using legal instruments (such as deeds) and ownership has been tracked using all kinds of land registries, recorder offices, cadastres and other (in)formal registries and archives across the world.
Those registries were designed using the most advanced technologies of their time and have been operated through the centuries by trusted parties dedicated to guaranteeing certainty, reliability and consistency. Dismissing centuries of efforts, experience and commitment would be foolish and risky, but the time for an update has clearly come.
The recent developments in decentralized technologies are showing a dawn of new financial applications. Similarly, we strongly believe that representing real estate as digital assets will enable new ways to own and use land and built properties, on top of unlocking liquidity, efficiency and a modern experience for end users.
Fabrica provides an evolving, pragmatic framework to represent real estate assets on a blockchain, finally available as primitives to build new real estate applications. We do this with the utter respect for who has kept land rights in order until today.
We started experimenting with NFTs to represent land rights as early as 2018 and have since then invested thousands of hours to refine a system to enable on-ramping of properties at scale.
This is far from a done job: it will take decades to make the switch and we welcome builders, entrepreneurs, regulators, end users and friends to join us in this quest!
Updated about 1 year ago