IHT Launches Japan’s 1st ATO; Enters Tourism Real Estate Investment Market
IHT has partnered with iResort Karuizawa, in the Nagano region of Japan, and launched an ATO (Asset Tokenize Offering) on i-house.com. The move is expected to expand iResort Karuizawa’s fundraising channels and improve its management efficacy. This application has received a lot of interest ever since its inception and demonstrates IHT’s progress in integrating blockchain technology with the tourism real estate industry.
The tourism sector has always been a lucrative industry attracting real estate developers and investors. IHT will connect assets holders with financial institutions by using its proprietary smart contract and distributed ledger technology. Using smart contracts allows for large real estate transactions to be split into smaller ones that can then be distributed to several financial institutions. Using blockchain technology allows users to invest in a more secure environment and yield stable returns at the same time.
“The combination of blockchain technology with traditional real estate proves that the blockchain has shifted from concept to reality,” said Ricky Ng, CEO and founder of IHT. “It encourages the tourism-based real estate industry to usher into a new frontier and brings benefits to traditional real estate owners and the industry.”
iResort Karuizawa is a five-star resort that is visited by more than 10 million tourists each year. The mild climate, abundance of sunshine, 108-hole golf course and award-winning restaurants are some of the reasons why the rich and famous, including Microsoft’s Bill Gates, choose to vacation there. “The launching of the ATO helps shorten the time spent on sourcing fundraising channels,” said a spokesperson for iResort Karuizawa. “Also, blockchain technology allows us to record detailed and complex management data in a highly convenient way and ensures that each transaction is traceable, this will improve overall efficacy.”
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