As part of our regular weekly roundup, Coinsquare News covered the weeks significant international cryptocurrency and blockchain headlines. In this edition, we look at regulators in Israel recommending the launch of a regulated crypto trading platform, Swiss companies tokenizing a real estate property, and more.
This week, regulators in Israel recommended the launch of a cryptocurrency trading platform that would operate under a strict regulatory purview.
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According to Reuters, this proposed platform would allow businesses and projects to sell digital assets to investors in order to raise funds, not unlike a Securities Token Offering (STO).
Reportedly, the Israel Securities Authority (ISA) made a recommendation based on just shy of two years worth of industry research. At the present point in time, there is no deadline for when this platform should be created.
In a statement, ISA chair Anat Guetta said that the level of excitement that cryptocurrencies received during the price boom of late 2017 has cooled off, but the technology is here to stay.
In news out of Switzerland, a press release from Blockimmo announced the launch of what it called the first Swiss property tokenized on a live blockchain.
Blockimmo is a project that says its mission is to facilitate an accessible and streamlined real estate market. This new initiative arrived as the result of a joint effort between Blockimmo, Elea Labs, and Swiss Crypto Tokens. All three companies involved in the initiative are based in Zug, Switzerland, a city which is garnering a reputation as an innovative blockchain hub.
Reportedly, the propertys trade volume amounts to around 3 million Swiss franc (currently valued at over $4 million CAD).
Proponents of this initiative believe that the process of tokenizing properties will allow blockchain technology to serve as a solution for several obstacles in the current real estate market. According to Blockimmos founder and managing director, Bastiaan Don, traditional property investments are victim to a non-transparent market that has a negative impact on its liquidity potential.
I am delighted that we were able to pull off this premiere, the first property transaction through Blockimmo, he said. The platform is the first secure blockchain product for both private and professional investors.
According to news reported by CoinDesk, some representatives in the United States think that the state of Colorado should investigate a potential application for blockchain technology. More specifically, three lawmakers believe that blockchain technology could potentially prove helpful in managing rights associated with using water from specific water sources.
A new bill that senator Jack Tate submitted in collaboration with representatives Marc Catlin and Jeni James Arndt argues that the Colorado Water Institute should have the authority to explore ways in which blockchain technology can improve current processes.
The bill argues that blockchain technology could potentially be leveraged to facilitate water markets and/or water banks, and create a database of water rights in the state.
Overall, the rise of potential areas of adoption for blockchain technology is part of a larger international story. In Canada, many of the countrys innovators and research organizations are actively exploring new use cases that could result in blockchain being more integrated into our everyday lives.
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