Ruden Blockchain: Legit Real Estate Cryptocurrency Project?
What Is Ruden Blockchain?
Ruden Blockchain is one of the world’s first platforms to truly embrace blockchain technology in order to enable users to purchase real estate properties using cryptocurrencies. Additionally, Ruden Blockchain seeks to address some of the major challenges facing the real estate industry such as inaccurate information, poor management of information, costly transaction process, and lack of liquidity in real estate properties.
Some of the features of Ruden Blockchain include a real estate registration registry system, a payment settlement system, and digital identities for real estate and transaction smart contracts, which will improve the storage and management of information as well as improve the management of property. In addition, Ruden will feature a real estate private fund that will increase the liquidity of investment and simplify the process of investing in Japanese real estate.
How Ruden Blockchain Real Estate Cryptocurrency Project Works
The Ruden Coin (RDC) is the ecosystem’s utility tokens and will power the entire Ruden ecosystem. The Coins can be obtained through the incentive mode of “Mining by Uploading,” whereby users are rewarded for uploading real estate data on the ecosystem.
The data ranges between property ownership, sizes to geographic locations. The data is verified through checking and confirming it using the real estate regulators based in Japan. The authenticity of the data will also be ensured through the implementation of blockchain technology.
Ruden’s Real Estate Online Service Platform will be used to match real estate buyers and sellers. Once the transaction is completed and payment made using the Yen Coin, the seller uploads the property data on the ecosystem, which is recorded on the blockchain to create a smart contract. RDC is then used to pay for the transaction fees.
Ruden real estate private fund platform prioritizes on small-amount real estate investment. However, large-scale investments can be divided into smaller units through utilization of smart contracts that increase the liquidity of the real estate industry. The investors can the use the smart contracts to purchase property units, which significantly reduces the investment risks.
Apart from paying for the transaction fees, Ruden Coins can be used to pay for property management fees or entrance fees on the platform. The coin can also be used to pay for the maintenance and repair services done by Ruden Holdings.
Ruden Blockchain Advantages
By creating digital identities for real estate, confirming the owner of real estate property is simplified while enabling banks and buyers to perform due diligence on property more conveniently as well as enable insurance companies to settle claims or related services quickly.
Improved Information Quality
The information registration and query system is built on the blockchain increases the quality of real estate information and offers real estate agents with more control over the data shared in the Ruden ecosystem.
Reduced Transaction Costs
Blockchain features point-to-point transmission transactions, which improves real estate payment, especially the cross-border payments by reducing the transaction costs and the time taken to process transactions.
By executing all the transactions on the blockchain, all the transactions will acquire traceability, making it possible to perform audits on the platform, which improves transparency.