The blockimmo platform launched recently with two test properties, but they intend to have actual real estate listed in the beginning of 2019.
Blockimmo works in a way that a real estate seller lists the property on the platform, along with an issuance of tokens which will represent shares of the property. Investors are then able to invest how much they like and watch the crowdsale progress. Various terms and limits can be placed on the sale. Once the sale is complete, each person who invested receives representative tokens in their wallet, tokens which are associated with a real-world holding by an investment firm in Lichtenstein.
The question of enforce-ability comes when there can be literally dozens of owners of a single property and the tokens can be swapped between wallets at will.
To manage this, blockimmo is restricting its tasks to places where it is certain it very well may be completely controlled: Switzerland and Lichtenstein. They expect to extend to different parts of Europe as properties are effectively recorded and the stage develops.
The properties that are sold on the stage, in a lawful sense, are held by a Lichenstein firm, each with its own sub-subsidize. This is the manner by which the properties are anchored in an IRL sense.
Switzerland is an extraordinary place to begin a venture like blockimmo as a result of the association of its current land vault. Bastiaan Wear who is the founder said this:
“The properties we tokenise are already designated with the precise E-GRID number directly in the blockchain. This is already a known quantity in Switzerland and they are already entered as such in their own, centralised land register. Synchronising the systems would be a first step towards a land register on the Blockchain.”