Solution for young professionals in real estate investment! Taiwanese startup launches a platform for tokenizing properties, allowing you to earn rental income daily.

With the prevalence of the concept of "sharing economy" and the maturity of "blockchain" technology, the Taiwanese startup Microinn Technology combines real estate, blockchain, and mathematical engineering technologies to launch a solution Progressing.today aimed at solving the investment dilemma in real estate for the middle class.

Youth Struggle with Real Estate Investment

From the past to the present, the prevailing notion in Taiwanese society regarding investment has been that "real estate speculation" is the best way to invest. Apart from self-occupation, owning properties in prime locations for renting out to earn passive income has enabled many people to become wealthy over the past few decades. However, with an increasing number of people entering the real estate market, soaring property prices, and the economic challenges of low wages and rising costs of living, it has become increasingly difficult for young people to save up for a down payment to buy a house in the current social structure, let alone becoming landlords.

Nevertheless, with the rise of the "sharing economy" concept and the maturity of "blockchain" technology, corresponding solutions are continuously being introduced. Taiwanese startup company Micro Pro Technology combines real estate, blockchain, and mathematical engineering technologies to introduce a solution, Progressing.today, aimed at addressing the investment dilemma faced by young professionals.

Tokenization of Property Rights

Through the tokenization of real estate on the platform, property rights are distributed to all investors, and rental income is proportionally distributed to token holders. Using the ongoing fundraising case as an example, the image below shows a property in Zhonghe District, New Taipei City, currently in the fundraising process.

The property will be divided into 1,000 non-fungible tokens (NFTs), each of which is unique and cannot be replaced. Compared to general ERC20 tokens, these tokens are closer to real-world property rights. Additionally, rental income will be transferred daily to investors' Ethereum addresses in the form of stablecoin interest in USD. As the property rights are divided, all future affairs of the property, such as renovations and sales, must be jointly decided by token holders. According to the official statement:

"NFT property owners can initiate votes at any time, and PT will respect the wishes of all owners to resell the property in advance, refurbish, raise/lower rents, and redeem ownership. An 80% agreement of ownership is required for each vote to be executed."

Currently, two properties are in the fundraising stage, including a property in Zhonghe District, New Taipei City, and one in Ota Ward, Tokyo.

Blockchain Integration with Real Estate

According to reports, Weiss Ratings has pointed out that blockchain has the potential to change the business models of any industry, with real estate being the most suitable field for transformation. The concept of Progressing.today and the pain points it aims to address are quite good. As the platform develops, it will undoubtedly need functionalities that allow free trading of NFT tokens or the ability to mortgage NFT tokens for loans, showing great potential for further development.

However, despite the development team behind the project being a well-known startup company in the industry, trust issues, the lack of legal validity of NFT tokens, and insufficient transparency in off-chain operations remain challenges for Progressing.today's current solution. The success of the business model largely depends on trust in this startup company. Overcoming this obstacle could potentially make it more attractive.

According to an interview with Micro Pro Technology founder Huang Shijin, tokenizing real estate still requires a more technologically friendly regulatory framework, and they also hope to receive more feedback from the government and society.