The Logic of Placing Construction Objects on BitRent Platform
 

When the project is created within the platform, it automatically leads to Smart Contracts pool formation. These Smart Contracts will control all the processes from construction monitoring to financial operations management, with separate Smart Contracts to be built for each and every construction element and type of work.

Once such construction elements are installed (while performing the works), data from RFID tags and sensors (for instance in concrete) is to be transmitted to data base. This information will be compared with data from BIM-model of a building.

 

Provided the installation is smooth and all technical requirements are met, Smart Contract confirms this working stage.

When Smart Contract confirms the working stage, several developments take place:

  • digital model of a building — responsible for construction control and technical norms — gets notifications on newly built elements; then this information is visualized for investors and auditors and speaks for work delivery;
  • financial part of this working stage is to be completed — from construction supplies calculations to salaries; if necessary (provided Smart Contract allows it), money transfer to developer’s account takes place.
 

At the first stage a seller needs to upload:

1. Country / city / district / location

2. Land parcel documents (rent, ownership, intention to buy), land cost

3. Project execution time in broad terms or construction priority

4. Investor budget includes:

— land cost per m2 of a building;

— agreement and networks connecting costs per m2 of a building;

— estimated cost of approval documents for construction and commissioning per m2 of a building;

— construction budget split into several blocks in detail per m2 of a building;

— below zero

— floor by floor framework

— facades

— internal network electricity , heating (depends on the region), Ventilation, conditioning and etc.)

— decoration

— landscaping and public amenities around the object;

— marketing costs per m2 of a building;

— detailed project within BIM model;

— energy efficient technologies and green standards presented by the platform;

5.Total costs per m2 of a building!

6. Company, portfolio, project implementation experience, success stories, exploitation and info on founders.

The platform evaluates all data received, and verifies the company at the first stage. Then they evaluate the project itself and assign to it a primary rating based on criteria that correspond to the platform’s requirements.

After that takes place sharing of specified information, checking reliability of data and feasibility of the budget. This all is performed by our experts in various fields. Only after that the final status is assigned — checked and verified.

  

GitHub: https://github.com/bitrent/Bitrent-Platform

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