Luxury Aspen resort divides into shares, sells $18M on blockchain

A backer of the project at the St. Regis Aspen hotel says tokenized real estate could 'replace consumer savings accounts' in 5 years

The tokens representing fractional ownership of the St. Regis can be traded on the Ethereum blockchain, one of the most prominent distributed ledger technologies whose enthusiasts say has the potential to transform the real estate industry.