First Swiss real estate transaction on blockchain
A property in Baar (ZG) has been sold via blockchain technology. According to the initiators, this was the first such transaction in Switzerland.
Specifically, the residential and commercial property at Grabenstrasse 3 in Baar was tokenised via the Blockimmo company's transaction platform, which is based on blockchain technology. Around CHF three million or 20% of the property's value was tokenised and subsequently sold to four investors in a club deal, Blockimmo says. The four individual transactions were made on the Ethereum blockchain and can be verified on Blockimmo's platform.
The three Zug-based companies Blockimmo, Elea Labs and Swiss Crypto Tokens collaborated for the Blcokchain transaction: Elea Labs provided the complete and validated data of the property and Swiss Crypto Tokens facilitated the transaction with the "CryptoFranc", a token directly linked to the Swiss Franc.
Blockimmo says it plans to tokenize another property and then sell it via a "public crowdsale." (ah)
