At CARF – Center for Applied Research in Finance, we believe that blockchain should be viewed not simply as a technological innovation, but as an opportunity to rethink how capital can be mobilized more efficiently for the real economy.
We are pleased to share the latest contribution to the CARF White Paper Series, authored by our valued researcher Assoc. Prof. Dr. Levent Sümer, together with our Chairman of the Board, Prof. Dr. Vedat Akgiray of CARF.
The white paper explores how real estate tokenization has the potential to transform investment, housing finance, and capital markets by enabling greater accessibility, liquidity, transparency, and financial inclusion. Beyond the technology itself, it examines the legal, regulatory, institutional, and financial foundations required to build a sustainable tokenized real estate ecosystem.
The paper also presents:
• A strategic roadmap for Türkiye’s real estate tokenization ecosystem.
• International regulatory comparisons and leading global case studies.
• Policy recommendations covering legal frameworks, digital infrastructure, investor protection, and capital market development.
• The role of tokenization in supporting housing finance, urban transformation, and long-term economic resilience.
As digital assets and real-world asset (RWA) tokenization continue to reshape global financial markets, evidence-based research and multidisciplinary collaboration will be essential to unlocking their full potential.
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