Oxygen Hospitality Group believes in the futureof technology in real estate—but the firm is taking theslow-and-steady path forward. It has signed an agreement withToken IQ to implement smart contracts andblockchain technology. The firm will start with short-terminvestment notes, which will be registered through the blockchainfor investors, increasing security and transparency. OxygenHospitality is among the first commercial real estate companies toadopt smart contract and blockchain technology, and believes thatthis could be a catalyst for more technology adoption in theindustry.

“Real estate tends to be a slower adopter of certaintechnologies. In general, real estate is not as forward thinking interms of embracing technologies like blockchain,” PeterAnadranistakis, president and co-founder ofOxygen Hospitality, tells GlobeSt.com. “I thoughtthat I could take something that was simple and common in theindustry—a simple document—and work with a leading blockchaincompany to register those notes in the blockchain. People still getpaper, so nothing changes from the day-to-day perspective, but Ithough this was a good step in creating an evolution instead of arevolution. Rather than being radical, I thought we could startwith paper documents that most real estate companies work with andintegrate it with the blockchain. It is fairly simple.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.