In the line of global trend modern technologies hit different social realities once and for all. As for Real Estate market it has kept outdated model of management and huge amount of regulations. Сurrent construction processes are too complicated and rely on human interaction. Is it possible to automate each significant stage, to purchase or manage asset without red tape?
Bitcoins & blockchains
Bitcoin is a form of electronic money, often managed by a blockchain. A blockchain is a public ledger that records bitcoin transactions and protects them. Blockchains are saved by design and therefore interesting for investors. When blockchains of multiple companies are linked, an hyperledger can be formed. An hyperledger platform brings together all related open sources blockchain tools and software. It is one of the so-called alternative blockchains, supporting blockchain-based distributed ledgers across industries.
Building information modeling (BIM) is digital representations of physical and functional characteristics of places. It enables participants to share vital real estate information in real time. BIM software also determines object’s parameters and relations to other items. Each element carries attributes for selecting and ordering them automatically, providing cost estimates as well as material tracking and ordering.
BitRent uses the RFID technology, coupled with other software, to track and share the progress of a building project and other valuable information with their participants. RFID stands for Radio-Frequency IDentification. This technology is comparable to using a barcode on products: all unique information of a product can be collected by scanning. Instead of barcodes, the RFID technology uses tags on products with electronically stored information, which can be detected with electromagnetic fields. Using a RFID tag to a product in a building project allows you to track the progress and other valuable information throughout the building. The information that is collected using the RFID technology is shared in a secure decentralized location.
A smart contract is a computer protocol intended to execute the terms of a contract. A blockchain-based smart contract is visible to all users of certain blockchain.
Generalized smart contract for each type of work (which is a set of smart contracts for each structural element) completed in due terms initiates a payment transaction for the next stage of construction. In case of non-fulfillment in the due terms, the smart contract initiates a transaction for the payment minus the penalty provided for in the contract.
The RNT tokens are designed to be used as a means of payment for BitRent platform. With the help of them, the owner of tokens can enclose them in the real estate and receive dividends from it. In addition, RNT tokens can be further used as payment for premium services (for example, requesting documents from the register, services of brokers, etc.) Totally BitRent will issue 1 billion of tokens and 100 millions of them will be remained within the company. 200 000 000 tokens to be realized during presale period. The tokens holders have great chance to purchase real estate items posted on BitRent platform. Tokens are liquid, therefore an investor should not worry about the return of funds. The value of a token may increase depending on the platform’s capitalization. Since amount of tokens is fixed and immune to inflation, demand for them will certainly increase. That will bring investors extra benefits. Token holders can sell their tokens to BitRent platform or platform’s customers at a price higher than that when tokens were purchased during the ICO phase.
Date of PreSale — 24 November 2017
Date of Sale — 1 December 2017
- SMITH + CROWN;
- ICO Tracker;
- ICO Bench;
- ICO Countdown
Strategy According BitRent’s business plan the platform will be launched in any case, that is, it will be established even if the required amount of funds is not collected. BitRent has an ultimate goal, which is the development of the platform to land reliable investment deals and to produce the best output and increase the transparency, safety and efficiency in construction industry.https://medium.com/@bitrent