NFTs and Kenya’s Real Estate Market
Order ID |
53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
Sources/References |
4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
NFTs and Kenya’s Real Estate Market: A Digital Transformation
In recent years, the world has witnessed a digital transformation, and Kenya’s real estate market is no exception. One of the most significant developments in the digital world is the rise of Non-Fungible Tokens (NFTs), which are digital assets that represent ownership or proof of authenticity of unique items, such as art, music, or even real estate.
In Kenya, the real estate industry has been struggling with issues of transparency, accountability, and fraud. However, the use of NFTs in real estate could bring about a new era of transparency and trust in the market.
NFTs allow for the creation of a digital record of ownership and transfer of real estate assets, making it easier for buyers and sellers to conduct transactions with confidence. With the use of blockchain technology, NFTs can provide an immutable, secure, and tamper-proof record of ownership, which eliminates the need for intermediaries, such as brokers or lawyers, and reduces the risk of fraud.
Additionally, the use of NFTs can enable fractional ownership of real estate assets, which means that multiple investors can own a percentage of a property, and each investor’s share is represented by an NFT. This can make it easier for individuals who cannot afford to purchase an entire property to invest in real estate and benefit from its potential returns.
Moreover, NFTs can make the process of buying and selling real estate faster and more efficient by eliminating the need for lengthy paperwork and reducing the time and cost associated with property transactions. With the use of smart contracts, the terms of a real estate transaction can be programmed into an NFT, and the transfer of ownership can be automated, reducing the need for manual processes.
However, despite the potential benefits of NFTs in real estate, there are also challenges that need to be addressed. One of the main challenges is the lack of awareness and understanding of NFTs and their potential applications in the real estate market. Educating real estate professionals and the public about NFTs can help to build trust and promote adoption.
Another challenge is the regulatory environment, as the use of NFTs in real estate may be subject to different laws and regulations, depending on the jurisdiction. Regulatory clarity is needed to ensure that NFTs are legally recognized as a means of transferring real estate ownership and to establish guidelines for the use of NFTs in real estate transactions.
In conclusion, the use of NFTs in Kenya’s real estate market has the potential to transform the industry by increasing transparency, trust, and efficiency. The adoption of NFTs in real estate will require collaboration between industry stakeholders, including real estate professionals, investors, regulators, and technology providers. With the right approach, NFTs can help to unlock the potential of real estate investment and provide greater access to the market for a wider range of investors.
NFTs and Kenya’s Real Estate Market
RUBRIC
QUALITY OF RESPONSE |
NO RESPONSE |
POOR / UNSATISFACTORY |
SATISFACTORY |
GOOD |
EXCELLENT |
Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
Zero points: Student failed to submit the final paper. |
3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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