Tokenization of Real Property Becoming a Way to Raise Capital
Chicago, Illinois–(Newsfile Corp. – November 22, 2021) – Epazz Inc. (OTC Pink: EPAZ), a mission-critical provider of blockchain cryptocurrency mobile apps and cloud-based business software solutions, announced today that CryObo technology will issue Non-Fungible Tokens (NFT) for a real estate deal in Cyprus. Cyprus is a small European Union member which is moving forward with cryptocurrency regulations. The Cyprus real estate deal will be a test of CryObo technology.
The tokens will be backed by real estate. Real estate will be appraised for current value; however, the future of real estate will be evaluated. The goal is for the real estate deal to access the future value of properties once the land is developed, and buildings are constructed. This technology would allow real estate developers to raise capital at better terms and allow the token holder to raise appraisals of the tokens and earned income.
The goal is to launch CryObo in early 2022. This decentralized financial system would be the first real-world business backing the tokenized economy. It would be beneficial to fund farmers, help their customers by giving discounts and provide incentives for the retail sector.
Shaun Passley, Ph.D., Epazz Inc. CEO, and chairman, said, “Cyprus is a great country to test the abilities of CryObo technology for real estate deals.”
About CryObo Inc.
CryObo Inc. will be enhancing its software to give early access to companies backed by real assets an easy way to access the token markets. The company’s platform will change how people transact real estate, digital assets, corps, and raw materials by allowing companies to access the future value of their assets. The growth of Bitcoin and other cryptocurrencies is bringing new regulations for large financial service companies, which will require a smart solution to manage their growing portfolios.
About Epazz Inc. (www.epazz.com)
Epazz Inc. is a leading cloud-based software company that specializes in providing customized cloud applications to the corporate world, higher-education institutions, and the public sector. Epazz BoxesOS v3.0 is the complete business web-based software package for small to midsize businesses, Fortune 500 enterprises, government agencies and higher-education institutions. BoxesOS provides a combination of many of the web-based applications that an organization would otherwise need to purchase separately. Epazz’s other products are DeskFlex (room scheduling software) and Provitrac (applicant-tracking system).
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