Chainlink set to power Latin American real estate platform

cointelegraph.com:

The tokenization of global property markets has been an ambitious goal of the blockchain space and decentralized finance (DeFi) could offer a novel solution for the sector to pick up pace.

Decentralized oracle network Chainlink (LINK) is set to power a tokenized real estate platform serving the Latin American property market. LaProp will allow investors to buy tokenized shares in various real-world properties, which will yield a percentage of income from rental payments.

LaProp will look to leverage Chainlink Keepers’ node operators' track record in securing billions of dollars invested in DeFi markets. The decentralized automation service carries out tasks for smart contracts on the BNB Chain and, in this instance, will automate secure rental payouts to token holders.

The platform intends to give retail investors the ability to gain exposure to real estate, which would otherwise be inaccessible due to a large amount of capital historically required to enter property markets.

Chainlink’s ability to handle smart contract functions will see rental paid by tenants automatically distributed to multiple token holders of the given property. Payment terms and schedules can also be edited per property.

The idea of tokenizing real estate ownership is not novel but the promise of a tried-and-tested service to manage rental payments and property ownership has the potential to attract renewed investor interest.

Dreams of blockchain-powered real-estate ownership were looking shaky almost a year ago, as a handful of tokenized real estate projects that laid the groundwork for this realization hit turbulence. This led to industry experts casting aspersions on the future integration of the sectors.

While other industries have seen