El Salvador will pioneer real estate transactions with blockchain.
The technology company DelNorte is preparing for the imminent inauguration of its blockchain real estate platform in El Salvador, a country where in March 2021 it launched its platform and signed a contract to tokenize all property records and titles in the municipality of San Bartolomé Perulapía, in the department of Cuscatlán.
According to the CEO of the US company, Anton Glotser, “the event will take place in the coming weeks when the first official automated real estate transaction will take place on DelNorte’s kasas.io Blockchain, simultaneously integrated with the Salvadoran government through the company’s government platform.”
The event will mark the beginning of a new technological era for the real estate industry in Central America, especially for El Salvador, a country whose government has made great efforts to establish an economic model away from the traditional economy and strongly linked to digital finance and cryptocurrencies.
Tokenization of real assets is the future of industries.
With the first real estate transaction on the DelNorte platform, it also fulfills what was expressed by the former Prime Minister of Haiti, Laurent Lamothe, during the launch of the platform: “El Salvador is not only a global pioneer in the adoption of Bitcoin, it is now also a pioneer in the adoption of Blockchain.”
The first transaction would consist of the purchase/sale of a real estate property owned by the mayor of San Bartolomé, Ronal Ortiz, who has not only had the vision to move the municipality’s records to the blockchain but — in an act of trust in technology and as an example for his community — has also arranged for his property to be the first real estate sale officially registered on DelNorte’s kasas.io platform.
In addition, as an unprecedented event, the transaction will receive special coverage by the national and foreign press, as well as official media coverage.
In this way, the municipality will initiate a pioneering real estate model that will continue with the thousands of properties that the company will digitize, tokenize and market in the Salvadoran municipality. Once the process is completed in San Bartolomé, the project will seek to expand to the rest of the country.
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