30th December 2022

Newsletter

FLAfRES NEWSLETTER 2022

Dear esteemed members of FLAfRES,

Thank you for making the early part of our year extraordinary. I thank you for participating in our memorable moments. I am hugely appreciative of the commitment to FLAfRES that I have witnessed this year – through the different chapters –in Southern, East & West Africa, and beyond. FLAfRES occupies a special place in the hearts of so many, and there is a real level of devotion to this, as well as a genuine will to build capacities.

I must emphasise that inspiring leadership exists at all levels of the hierarchy; particularly through our ever-inspiring sub-committee members. Many of you at FLAfRES have been recognised for your achievements this year but there are also many of you, who, in your own way, are changing the world for good. I thank you for your service to humanity, and for making FLAfRES a better place.

Finally, there are still heights to conquer – I seek your continued support in making this a reality; kindly and steadily assist us in advancing the frontiers of the vision for which FLAfRES has been established. That being said, please enjoy the holidays, stay safe, and see you all in 2023!

-Dr. Oluseun Ajayi
FLAfRES Programme Chair

Welcome Address

FLAfRES was set up to engage more actively with early career academics and professionals who have Sub-Saharan Africa (SSA) at heart. The idea is and has always been to create and provide the necessary pathways to sustain and increase membership of AfRES.

There was a time we longed for a vibrant group of academics and professionals who were willing to volunteer their time and services for the ultimate good of AfRES. Leadership has worked very hard to ensure that this is achieved. We thank the entire membership for their continuous support in attending organized programmes and to make FLAfRES more relevant today than it has been in times past. We hope that this interest in our activities will be a sustained one and our active membership will continue to grow.

Our world is changing and we need to have the right skill-sets to be able to meet the uncertain future that lies ahead. FLAfRES offers the platform to engage with seasoned professionals as well provide various networking opportunities. It is our firm belief that members take up opportunities that we continuously share on our various social media platforms.

We thank all subcommittees and volunteers who work behind the scenes to make things happen. We are grateful for your continuous commitment and unwavering support.

On behalf of myself and the leadership of FLAfRES, we wish you all happy celebrations and we look forward to next year 2023 to achieve even greater heights as individuals and collectively as group.

We do hope to see you soon during our next event.

From Dr.-Ing. Emmanuel Kofi Gavu
(FLAfRES Chairperson 2022/2023)

CENTRAL BANK DIGITAL CURRENCIES AND REAL ESTATE TOKENIZATION


By David Akinwamide

Blockchain is well known as the disruptive technology behind digital currencies such as Bitcoin and Central Bank Digital Currencies (CBDC), but blockchains can support a much broader range of transactions. The primary goal of these currencies is to provide businesses and consumers with privacy, transferability, convenience, accessibility, and financial security (Ahiabenu, 2022).

For instance, Nigeria CBDC (e-Naira) was launched with a view to strengthen the stability of the payment system as transactions involving real estate become more diversified. In recent years, blockchains have also been used to transact in “tokens” that are tied to real world assets, such as real estate. With the aim to revolutionize global real estate investment, Central Bank Digital Currencies (CBDC) plays a major role in real estate tokenization to achieve a legal structure through government interventions.

Tokenization is the process of converting a stake in a real estate asset into a token that can be stored on a blockchain. Through “on-chain” transactions, these tokens can be exchanged directly between participants (smart contract). Some of the advantages include increased liquidity, lower entry barriers, asset management, and efficiency. Tokenization enables issuers to digitize entire onboarding processes, automate compliance, and bring liquidity to a previously underserved asset class;

Views on Publishing in High Impact Journals

Journals act as curators of scientific literature

Types of Scholarly Journals

Mode of production:
(i) Online (ii) Hard Copy

Level of Access:
(i) Full Open Access (this may attract publication charge) (ii) Hybrid Open Access (subscription funded journals)

Coverage Area:
(i) Field related/Narrowed area

Attributes of Good Scholarly (High Impact) Journals

Peer Review:
(i) Single blind/single anonymous (ii) open peer review (iii) double blind/double anonymous Editorial Membership Evidence of Publication Impact Factor

Choosing the Appropriate Journal to Publish

  • Read carefully the aim and scope of the journal
  • Checkout the acceptability of your region
  • Check out the acceptability by your institution

Things Editors Lookout for While Considering Your Article for Publication

  • Relevance of your article to scope and aim of journal
  • Originality of your publication
  • Relationship to literature
  • Quality of communication
  • Appropriateness of the method used
  • Presentation of results
  • Implications of research to practice and or society

IS INVESTING IN REAL ESTATE IN THE METAVERSE WORTH THE HYPE?

The metaverse is one of the new waves of technology that has gained popularity over the years. The metaverse concept is not relatively new and has transformed virtually all industries and businesses. The real estate industry is one of these industries that has been able to absorb this cutting-edge technology. Hence, real estate surveyors should understand this technology. 

But what exactly is the metaverse? The metaverse is coined from two words “Meta”, which means beyond, and “verse”, which means universe. It means beyond the universe. The metaverse is a digital world that recreates what happens in the physical world. Several things can be done in the metaverse, from talking to people, investing in digital artworks, and exploring mind-blowing vistas, to building homes and cities. 

Why should real estate investors be interested in the metaverse?

The metaverse contains virtual land and buildings that can be sold and purchased using the metaverse currency. What makes the metaverse intriguing is that real

estate investors can invest in these virtual properties just like they would have done with traditional real estate. Several platforms are available such as Decentraland, Sandbox, and Axie Infinity. With these platforms, investors can buy, sell, build, and lease land and buildings.   

Are there any benefits to investing in virtual real estate?

As an investor, you can earn money by leasing your virtual properties to clients needing space in the metaverse. You can market your traditional real properties by creating digital twins in the metaverse to reach a wider audience. With the metaverse, you can also create digital experiences such as attending meetings and touring houses. However, virtual real estate is risky because there is no guarantee that the metaverse platforms will continue to exist. Such platforms can cease to exist or remain popular in the future. And when these platforms vanish, your properties vanish with them. Also, investors should remember that cryptocurrency is volatile, making it an even riskier investment.

How to Trade Real Estate in the Metaverse?

Trading could be done through auctioning, real estate companies, and online marketplaces like Craiglist and opensea. 

How to Purchase Land in the Metaverse?

Conducting transactions in the metaverse is not as difficult as people think. First, you will have to register to a metaverse platform like Sandbox, search for available plots of land, compare prices and check property details like location and size. Then, you connect your digital wallet to your account and purchase the land and store the virtual land as a non-fungible token (NFT). 

In conclusion, virtual real estate is a high-risk investment, and investors should conduct intensive research before making any decision.

– Priscilla Bello

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