Independent Observer are reporting on the possible launch of Indonesia’s first property digital currency, called LOBO Coin.
According to reporting, PT. Gaharu Indonesia Prima, which also partnered with Lobo Investment Companies in Dubai and London, will launch LOBO Coin to the public as a digital asset that has been designed and created starting in 2021 under the auspices of PT Gaharu Indonesia Prima.
LOBO will be a property digital currency for the first time in Indonesia. Over time Real Estate companies are predicted to use LOBO as part of the payments so it is expected to provide growth for the token value.
LOBO Coin itself can be used as tokenization of property assets, company equity, and all assets in the real world, say Independent Observer. Tokenization itself is a process of creating, distributing and managing digital tokens that can represent ownership units in real estate assets. However, instead of using conventional paper documentation, investors can use virtual tokens to carry out their transactions in a secure and legally binding process. This is one of the uses of LOBO.
Source: Independent Observer