WHAT BLOCKCHAIN IS BEST FOR REAL ESTATE TOKENIZATION?
Barry Finkelstein Discusses Algorand (#Algorand, $ALGO, #ALGO)
On Wednesday, April 28th, Barry Finkelstein presented to the Chicago Blockchain Real Estate Collective (CBREC) the benefits of the Algorand blockchain and why it is perfect for issuing, trading and life cycle management for Digital Assets.
Barry Finkelstein is head of Finance and Structured Products for Algorand. Check out the video below if you want to learn more about tokenizing real estate or if Algorand might be something to consider as an investment. Barry addresses how financial markets and real estate are migrating to the blockchain and everything will be tokenized as a financial asset.
At this meeting we were able to discuss how Algorand is one of the top blockchains for financial assets and perfect for real estate. Barry’s financial and entertainment industry experience have him well positioned to discuss financial products, digital assets and NFT. Barry is a Wall Street professional having served both with UBS Investment Bank and Merrill Lynch as a Managing Director.
The Chicago Blockchain Real Estate Collective is sponsored by:
Interested in investing in a high quality portfolio of Net Lease properties for consistent cash flow with the extra benefits of Security Token flexibility, liquidity and additional earning power?
Has Algorand Solved The Blockchain Trilema of Decentralization, Security and Scalability?
Algorand asserts they have solved the blockchain trilema of decentralization, security and scalability. Algorand was founded by MIT scientist Silvio Micali, a Turing Award winner. Micali is known as the “Godfather of Crypto” because his work on public-key cryptosystems, pseudorandom functions, digital signatures, oblivious transfer, secure multiparty computation, and is one of the co-inventors of zero-knowledge proofs.
In this episode of Chicago Blockchain Real Estate Collective we hear that the Algorand blockchain network is perfect for financial transactions because of it’s lighting speed with thousands of transactions per second and less than 5 second block completion time.
Barry Finkelstein: Finance and Structured Products for Algorand
Barry is exceptionally well positioned to discuss financial products, digital assets and NFT. Barry is an accomplished Wall Street professional having served both with UBS Investment Bank and Merrill Lynch as a Managing Director.
Barry Finkelstein, is working with Algorand to lead it’s North American business development efforts and assist in capital markets initiatives. Mr. Finkelstein was most recently at 23 Capital, a Sports, Music and Entertainment capital and solutions provider. Prior to joining 23 Capital in April 2017, Mr. Finkelstein was a Managing Director at UBS AG. He headed the Fixed Income Distribution/Structured Products and Solutions group.
Mr. Finkelstein had responsibility for a number of senior institutional client relationships, primarily focused on structured products and solutions. Mr. Finkelstein focused on the origination, structuring and development of Structured Funding transactions and other capital raising endeavors for clients of the Bank. Mr. Finkelstein had management responsibility for the Structured Product Distribution and Solutions effort and had been a member of the UBS Fixed Income Executive Committee. Prior to joining UBS in February 2004, Mr. Finkelstein headed Merrill Lynch’s Fixed Income Structured Repackaging and Synthetic Credit businesses.
Mr. Finkelstein began his career in 1986 as a trader of interest rate swaps and options. Mr. Finkelstein attended the University of Michigan and received a Bachelor of Science in Economics and Accounting from Claremont McKenna College.
Algorand was founded by Silvio Micali, a Turing Award (Nobel Prize of Computing) winner and is called the Godfather of Crypto because of fundamental early work on public-key cryptosystems, pseudorandom functions, digital signatures, oblivious transfer, secure multiparty computation, and is one of the co-inventors of zero-knowledge proofs.
Silvio Micali’s pure Proof Of Stake solves the Blockchain Trilemma which says you can’t have Decentralisation, Security, Scalability.
The Algorand blockchain is entirely decentralised, which means there is no central authority or single point of control. A committee of users is randomly and secretly selected to approve every block and this committee is run by participants from different backgrounds across the globe.
The Algorand blockchain is fault-tolerant with no special group of users for an attacker to target. Committee members are selected by a secretly run, cryptographically fair, individual lottery. An attacker would not be able to single out one committee member to corrupt.
The Algorand blockchain is open source and available for anyone to audit, use and build upon. The platform is founded in principles of transparency, inclusivity, and collaboration and maintained by a dedicated community with a shared vision of a decentralised, borderless future.
Algorand’s speed, security and low costs make it an ideal blockchain for financial instruments and superb for real estate tokenization.
00:28 – Michael Flight, CEO of Liberty Real Estate Fund (Liberty), gives an update on the fund’s progress and launch in May
04:11 – Host of CBREC Adam Carswell introduces Barry Finkelstein, Head of North American Business Development at Algorand, and his experience in global finance and more recently blockchain tokenization
10:29 – What are the advantages and disadvantages of investing in real estate?
15:00 – How does the tokenization of real estate assets on the blockchain create transparency and ease of fractionalized investment for businesses and investors?
18:35 – How do Smart Contracts allow companies to fractionalize hard assets and increase investor optionality with blockchain technology?
23:12 – What is the importance of regulation with blockchain transactions for real estate?
24:52 – How did Algorand create a fast and secure blockchain for decentralized and traditional finance?
26:24 – How is Algorand’s “proof of stake” model superior to the “proof of work” model that most companies use?
28:27 – How has Algorand proved that their software is secure without losing transaction stability, or “never forking,” in an instantaneous, fast-paced environment?
29:34 – How does Algorand’s layer 1 functionality optimize speed and ease of use for investments?
32:47 – What is a hard-asset example of how Algorand can tokenize real estate?
34:54 – What is decentralized finance (DeFi) and its advantages?
38:27 – Can Algorand create complex tokens for different assets with specified stipulations?
42:09 – How does Algorand compare with Polkadot’s blockchain structure?
49:45 – How much does any transaction cost on Algorand versus Ethereum?
54:43 – What applications are currently live on Algorand’s sites?
3 Key Points:
- Algorand is a Blockchain designed for transactions, speed and block finality
- Alogorand is ideal for issuing securities, NFT and real estate tokenization
- The ALGO should be a good cryptocurrency investment as it reaches more widespread adoption
The Chicago Blockchain Real Estate Collective is sponsored by:
*Note: Liberty Real Estate Fund LLC and Liberty Equity Management LLC (collectively LibertyFund.io) have made every attempt to ensure the accuracy and reliability of the information provided. Liberty cannot not accept any responsibility or liability for the accuracy, content, completeness, legality, or reliability of the information contained herein. The information herein considered legally-binding legal advice, tax guidance, or financial counsel.
The CHICAGO BLOCKCHAIN REAL ESTATE COLLECTIVE (CBREC) is a meetup for finance professionals, technologists, researchers, software developers, engineers, entrepreneurs and relevant real estate stakeholders interested in understanding applications of blockchain, distributed ledger, smart contracts, security tokens, and asset tokenization for commercial and residential real estate.
For future meetings and more information on the Chicago Blockchain Real Estate Collective go HERE.
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