Press Release: Land32 is Unlocking the Underutilized Value of Land
Updated: Dec 26, 2018
Land 32 is turning units of land that are owned privately or by governments on behalf of the people into a stable medium of exchange, and creating a self-sustaining marketplace for land financing and investment
San Francisco, California - Toda.Network Corp. (“Toda.Network”) launched in 2018 to enable companies to deliver on the promises of the blockchain. The company already has eight joint ventures building on the Toda.Network that are funded and established, with dozens more that are onboarding.
Toda.Network is announcing another joint venture called Land32, which is set to unlock the tangible value of land. It creates a cryptographic representation of each square centimeter, on-chain, to create fungible, exchangeable units in a secure, sustainable and efficiently scalable marketplace.
“I have spent the better part of my career in real estate investment and consequently, have come to hold a great understanding of land and its importance; it is one of the most vital natural resources and one of the few assets on this planet that consistently appreciates in value. Despite this, it is not seamlessly integrated into the financial markets,” said Daniel Saliba, CEO of Land32. “Land is a great store of value, it is tangible, indestructible, scarce and finite. When tokenized, it becomes a great and stable medium of exchange, and in the long run, it could be a good unit of account. Yet at present, so much land is simply not utilized at all, and when it is not utilized, its value is not realized in any form.”
For example, Canada is the second largest country in the world by land mass, and 89% of Canada’s land is owned by the “Crown” (Government) on behalf of its people; however, these massive assets are not always optimally utilized. Meanwhile, Canada also has a foreign debt of over one trillion dollars, while its unmonetized Land would have cryptographic representation that could be valued at over US$8.7 Trillion. This is comparable to the perceived value of all of the gold that has ever been mined in the world.
“We’re going to start by doing something as simple as linking a square centimeter of land into TODA’s data structure, making its value more easy to transact with. This is currently empowering land owners and real estate developers to efficiently raise financing cost-effectively, enabling individuals to seamlessly invest in land and ensuring necessary regulatory requirements can be met,” added Daniel.
An immutable record of land and its ownership can be enabled by Land32, which means that private owners, farm owners, or anyone - can have proof of ownership of a portion of land, no matter how minuscule or geographically remote.
“For a project such as Land32, it is important that the blockchain technology that it employs be scalable and efficient without extracting value from the community it powers during every transaction. Millions of transactions happen per minute with money today and the evolution of land ownership ought to have the same capabilities,” said Toufi Saliba, CEO of Toda.Network and Co-Author of the TODA Protocol.
Land32 creates and digitally captures small divisions of land by the square centimeter and gives each unit a cryptographic representation on an efficient and scalable blockchain protocol. By creating these units, the underlying land asset becomes easily transferable, exchangeable and largely fungible. Land32 will become a secure marketplace for land exchange, unlocking the tremendous value of this resource. Landowners such as farm owners or real estate developers can benefit from new, non-traditional methods of financing while providing the local and global community with the opportunity to invest in land, contributing to and benefiting from wealth creation. Because Land32 is built On TODA, each cryptographic representation of land can be seamlessly exchanged P2P for another, or for any other product or service, optimizing transfers and exchanges while preserving wealth. Learn more: Land32.com
Toda.Network launched in 2018 to enable projects to deliver on the promises of the blockchain. The company has formed and continues to form and onboard alliances, startups and joint ventures that are building on the Toda.Network. The TODA Protocol is a network protocol and modification of TCP/IP that enables value management and transfer over the packet layer and below the operating system in a fully decentralized setting, without reliance on a ledger. TODA enables businesses and blockchains to efficiently scale as the numbers of users scales. Tested data shows 1 transaction per second (txps) for 800 devices dispersed geographically in a permissionless decentralized setting. This equates to a low of 1 Million txps for 800 Million user devices at only the cost of the network itself, with no leakage to a third party or to a different class of users. This means no miners, no cloud, no database, and no servers - nothing in the middle. Toda.Network’s focus is security first, then efficiency, confidentiality, scalability by design and enabling P2P interoperability with no third party. The TODA Protocol is permissionless, so anyone can build on it. However, leveraging Toda.Network's "know how" is available only to projects with significant potential by either licensing or creating a strategic alliance with Toda.Network