Block Estates has introduced its ongoing blockchain-enabled real estate platform that aims to empower a diverse range of transactional capabilities, the company announced in a press release on September 15.
World’s First Blockchain-Based Real Estate Platform
By integrating crypto and fiat currencies with secure blockchain technology and smart contracts, Block Estates is reportedly developing the “world’s first comprehensive blockchain powered real estate platform.” Rob Tomkins, Co-founder and Co-Chief Operating Officer. Asserted that all of this can be done while maintaining the best safeguards available.
Initially, the London-based startup plans to launch asset-backed tokenized real-estate investments that can be accessible to investors through Block Estates ERC20-compliant security tokens.
In terms of benefits, Tomkins expounded:
“Token holders will enjoy the benefits that will be attached to the Block Estates security tokens including income, profit sharing and potentially token price appreciation.”
Block Estates’ overall business model comprises the creation of a real estate industry ecosystem powered by a blockchain platform. According to the release, it will provide a frictionless, borderless, and efficient system to facilitate a wide array of real estate related services where transactions between both sides happen in real-time.
Tomorrow’s Real Estate Market
The introduction of vertical tokenized services on top of investments, Block Estates disclosed, is planned to enhance their service offering and position the startup to become a global leader in the real estate blockchain market.
The development of the platform is set to be undertaken over three phases with development of phase 1 well-ready around September 2018, the company added. Meanwhile, the launch of Block Estates beta platform with initial investment features is scheduled for late this year with upgraded functionality being added. Phase 2 and 3 on the other hand will further expand platform functionality and facilitate a wide range of services that includes real estate asset investment, management, trading and monitoring; which Block Estates targets to achieve through the development of a proprietary blockchain platform.
Another blockchain-based platform that aims to improve the real-estate industry using the new technology is Dream Chain. It will be presenting its blockchain-powered flagship platform at the Real Estate Blockchain Expo 2018 in Seoul on September 19 to 20.
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