Global equity marketplace Vesta Equity has chosen the Algorand blockchain to launch its new real estate tokenization services, disrupting a decades-old industry and opening up the possibility for homeowners to convert their equity into digital assets.
Under the new partnership, Vesta will utilize Algorand to further disintermediate the numerous parties involved in the traditional home equity and borrowing space. With Vesta eliminating expensive intermediaries from the process, Algorand’s technology will allow all data to be readily available and verified automatically.
The new marketplace will enable homeowners to convert their home equity into digital assets and sell a percentage of it to accredited investors without compounding interest or requiring an outright sale.
Vest Equity co-founder and CEO Michael Carpentier said:
“We have become a society of debt, but that journey needs to shift to create a more prosperous future for all. At Vesta, we believe the application of the right technologies hold the answer.”
W. Sean Ford, Algorand’s COO, said his company and