The European investment manager Peakside Capital Advisors has introduced a real estate fund for the German market using blockchain, according to Coin Telegraph.

The information was revealed in a press release made known by the company on June 12. The fund focuses on assets between $17 million and $85 million.

The fund is a product of the partnership with German tech platform Brickblock, which is a "funds-as-a-service" platform as well. Bricklock operates ScalingFunds, which is an investment management platform using blockchain. It had its first tokenized property this March. A press conference was held wherein Stefan Aumann, founding partner of Peakside, explained the company's goals.

According to Aufmann, the company is "looking to utilize advances in digital technology." The co-founder also added that Bricklock can now offer investment products at a smaller minimum to investors who qualify for such a process. Furthermore, he said that the company believes in the capability of blockchain to provide additional security to investor transactions.

This is in similarity with a process wherein the US National Association of Realtors (NAR) partnered with Propy, buying a stake in the blockchain-based real estate startup. Second Century Ventures invested an undisclosed amount of money in Propy through its REACH accelerator program, which handled such accounts for the real estate tech VC fund under the NAR.

The blockchain-powered Propy handles real estate buyers, brokers, and sellers, connecting them to each other online. Its platform allowed these investors to complete processes even when they are far away from each other. Propy also provides for real estate agents through online tools, such as the secure DocuSign, to prevent breaches of security and hacking incidents.

The firm already helped in an auction, stepping in to facilitate the sale of a 17th-century Italian mansion on a blockchain. It had help in Beverly Hills real estate brokerage Hilton & Hyland during the transaction, which sold off part of the Palazzo Albertoni Spinola, a structure that dates back to 1580 and 1616.

Propy's involvement in NAR's agenda and Germany receiving a real estate fund from a blockchain startup speaks volumes of the development of blockchain.

In such a short time, it wouldn't be surprising to see millions of blockchain startups get the recognition they deserve. It's only a matter of time before blockchain becomes a legitimate process in real estate.