Impact of Blockchain Technology on Real Estate Crowdfunding

Abstract

The article is devoted to the analysis of the impact of blockchain technologies and asset tokenization on crowdfunding mechanisms in the real estate sector. The purpose of the study is to examine the practical applicability of tokenized financing models for development projects, evaluate their effectiveness in key parameters (transaction speed, investment accessibility, liquidity, transparency, operating costs) and determine the potential for implementing such tools in Moldova. The research methodology includes an analytical review of international cases, a comparative analysis of traditional and tokenized models, a SWOT analysis of the Moldovan ecosystem, as well as modelling a hypothetical case of tokenization application in financing construction. The research results demonstrate that tokenization reduces the entry threshold for investments to 100 euros, increases liquidity through the secondary market of digital tokens, accelerates capital attraction by 30–50%, ensures transaction transparency and automation of settlements. Moldova’s potential is due to a developed IT infrastructure, integration into European digital initiatives and growing interest from the diaspora. However, the lack of a local regulatory framework and low financial literacy remain key constraining factors. UDC: 004:332.834(478); JEL: G23, G32, L26, O33, R30