Prime-Ex

Prime-Ex, also known as Prime-Ex Perpetual, is a company that aims to disrupt the real estate industry using blockchain technology and cryptocurrency tokens. Here’s our review.

What Is Prime-Ex?

Prime-Ex, found online at Prime-Ex.com, is a blockchain technology company that promises to take control of the real estate process from beginning to end, including the selection of real estate, construction of properties, borrower financing, and even future maintenance.

The ultimate goal of Prime-Ex is to create an environment where new properties are built, sold, and financed within a single ecosystem.

The ecosystem revolves around PEX tokens. Blockchain technology is used to maintain document authenticity throughout the real estate process, and to authorize transactions. Token holders are eligible to receive 80% of Prime-Ex’s profits, while also getting a discount on any mortgage payments paid using PEX tokens.

How Does Prime-Ex Work?

Prime-Ex’s platform aims to use the blockchain to walk customers through all stages of the homebuilding process – from selecting the property, to building the property, to arranging borrower financing, and conducting future maintenance on the platform.

As proof that their concept will work, Prime-Ex is launching an initiative in Panama. The company is marketing itself to North American and European expats who wish to build properties in the “warm beaches and cool highlands of Panama”. Previously, Panamanian homebuilders have faced entry barriers related to home financing in Panama. That’s where Prime-Ex sees an opportunity.

“The object is to build, market, sell, and finance a sizable portion of houses within a two hour geographic location of Panama City to earn a significant ROI,” explains the official website. “Our solution streamlines the bureaucracy involved with providing residential lending and implementing novel security options that limit the homeowner’s risk in ways meant to maximize future profit for Prime-Ex Perpetual.”

What Problems Does Prime-Ex Seek To Solve?

Prime-Ex seeks to solve a number of problems in the real estate industry. The major problem they see is a lack of cohesion across all parties involved in real estate.

Under today’s real estate development system, land developers select properties by finding cheap land, developing that land, and selling it for double or triple the price. Once the land is sold the landowner is no longer involved in the real estate development process.

Homebuilders, meanwhile, cut corners to reduce costs throughout the building process. Prime-Ex’s whitepaper claims this is particularly bad in Panama, where home buyers are “lucky” to find a 2 year warranty on a new property. Generally, after a home has been built and sold, the home builder is no longer involved.

Banks, finally, provide financing to the landowner, home builder, and eventually, the home buyer. The property is held as collateral throughout this period. This means the bank gets a zero-risk investment at the expense of three different clients, generating three different profit cycles from the same piece of property.

Ultimately, through this system, Prime-Ex believes that everybody loses except for the banks. That’s where Prime-Ex sees an opportunity to use blockchain technology to create a better system.

The Prime-Ex Token Sale

There’s a total supply of 30 million PEX tokens. The tokens are priced at an initial rate of 1 PEX token = $1 USD.

25 million of the tokens are available to the public through the crowdsale. 4 million (13.3%) are reserved for the founders, 2.5% (750,000) are reserved for the pre-ICO bonus, and 0.8% (250,000) are saved for bounties.

The tokens appear to be used exclusively as a fundraising system. Prime-Ex will use the funds to “achieve its business objectives”. Then, they’ll deliver 80% of real estate profits to the token holder via annual dividend distributions.

The tokens will also be used to reward mortgage applicants. Buyers can get a discount by paying for mortgages in PEX tokens. This is designed to create a demand for PEX tokens on a monthly basis.

The pre-ICO began on September 18, with the general token sale taking place throughout September and October.

Who’s Behind Prime-Ex?

Prime-Ex is led by Co-Founder and Director Ulrich Schwark, Co-Founder and Director John Gilbert, and Director Theresa Schwark.

The company is headquartered in Panama City, Panama. It was founded in 2017.

Prime-Ex Conclusion

Prime-Ex is a real estate development project that uses cryptocurrency and blockchain technology to make the real estate industry more efficient. The firm doesn’t seem to be quite as reliant on blockchain’s infrastructure as other blockchain companies – they only use the blockchain for the PEX token and document retention, for example. However, they’re rolling out the proof of concept across Panama over the coming months.

You can learn more about the Prime-Ex Perpetual ecosystem, including their development plans for the future, by visiting them online today at Prime-Ex.com.

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1 COMMENT

  1. I came across your article about our project on a Google search. Thanks for writing about us! I read your article in detail. I would like to expound on one comment that you make in your article:

    “The tokens appear to be used exclusively as a fundraising system. Prime-Ex will use the funds to “achieve its business objectives”. Then, they’ll deliver 80% of real estate profits to the token holder via annual dividend distributions.”

    I would like to explore for a moment what our business objectives are. We’re far more than a fundraising system. With our combined 60 years experience in everything that we talk about here, from real estate development, home construction and sales, mortgage origination and servicing, and breaking down complex credits, we could have come to the ICO world and asked for, and received, far more money than the 25,000,000 token sale. However, this wasn’t necessary to prove our concept.

    Our concept is not building houses… we’ve got that covered already, and the Prime-Ex Perpetual project represents only 20% or so of our current building capacity. That’s not what we’re proving. What we’re proving out, or putting flesh on the bones if you will, is the policies and procedures that will be necessary to roll out the efficiencies gained in our concept throughout the other top expat communities in the world. Panama is perfect for our proof of concept because we can be our own subcontractors, but when the project is rolled out to at first a more regional scale and then later a global scale we have to have in place exactly the things that make Prime-Ex Perpetual a great deal for homeowners and tokenholders while papering up contracts and so forth that protect the integrity of the ecosystem itself. These things will be hammered out over the course of the proof of concept build out and will be tweaked along the way wherever necessary.

    The Prime-Ex Perpetual vision goes much further beyond our proof of concept with our minds continually on global application. Hope this helps!

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