C Estates Inc., a new real estate company, is set to commercially launch by the fourth quarter of 2019 an online platform that allows investors to acquire a fraction or whole of any property in the Philippines using the process of tokenization.
Teru Sumida, chief executive officer of C Estates, told reporters in a briefing Monday the online platform would connect buyer and sellers of property “just like in a stock market.”
“C Estates was formed because of our encounters in the slow and rigorous process of buying and selling properties in the Philippines,” Sumida said, adding his company would make the process of buying and selling less complicated for investors.
The company, which aims to set the global industry standard for real estate transactions, uses the process of tokenization that has long been used by financial institutions on monetary assets.
Tokenization is the process of protecting sensitive data by replacing it with an algorithmically generated number called a token.
Sumida said in addition to securing and protecting all sensitive information on its database, it ensures quick and efficient transfer of property ownership and in the process avoid human errors on public records.