The fragmentation and centralization with our property sector are leading to plenty of issues such as wire fraud, mortgage defrauding among others. Consequently, the rigid structure of our real estate market is also responsible for a considerable number of assets lost or millions in funds during the transactions.
Such a situation has led to plenty of new ventures looking for ways to use blockchain's decentralized ability to bring a new version of our real estate market. OpenBrix, for example, sets out to deliver a blockchain powered property portal that will be inclusive to everyone. Here's more on the concept
What Is OpenBrix?
OpenBrix is a blockchain-based property platform that provides a decentralized network structure where real estate owners and participants get to trade in inclusivity openly. By establishing the decentralized network, OpenBrix hopes to be fully open to every property enthusiast within Europe, Middle East, Africa and the Asian markets. That is in line with OpenBrix's vision of creating a simple network with dissemination for the property market.
How OpenBrix Blockchain Real State Property Network Works
OpenBrix expects to charge a yearly fee to ensure that the network is in excellent condition through yearly maintenance. Each member of the network will be eligible for this charges as part of their contribution to the OpenBrix platform.
OpenBrix entails using a token system based on the BRIX digital currency. The BRIX token will be in use to fund ongoing property developments and facilitate the transactions involving the real estates. The BRIX token will also be held and sold over time to ensure the platform is self-sustaining without the annual fees.
The OpenBrix Insight Center will enable users to harness the power of blockchain to produce ideas and reports from the property data they have on the platform.
OpenBrix prides itself as an open and transparent network where the token holders/network members have access to the necessary information in open.
OpenBrix plans on also including corporate partners as a means to diversify their networking and investing portfolios to provide for the best service.
The OpenBrix development team consists of experts from different sectors such as real estate, commercial enterprises, and blockchain technology.
Provision Of A Private Exchange
OpenBrix's partnership with FYDO provides the network with easy access to the BRIX Exchange to carry out transactions built on security, convenience, and trust.
OpenBrix takes pride in having a complete and transparent system of contact for users to keep themselves updated on matters of the network.
OpenBrix BRIX Token ICO Details
- Start- 8th July, 2018
- End- 31 August, 2018
- Start- 1 September, 2018
- End- 1 December, 2018
Parameters Of The ICO
- Token symbol- BRIX
- Platform- Ethereum
- Type- ERC20
- Accepts- ETH, BTC, Fiat
- Price- 1 BRIX= 0.001 ETH
- Token supply- 500,000,000 BRIX
- Hard cap- 70,000 ETH
- Soft cap- $1,000
- Minimum investment- 3 ETH
There is no denying that blockchain is making waves in the real estate industry and OpenBrix is just one of the many ways that the exponential technology could help decentralize the sector. Still, OpenBrix is prone to face plenty of competition and judging from the current state of the real industry, and it is going to take longer than expected before blockchain adoption becomes the norm in property trading.