The population of UK is increasing and there are not enough properties being built every year to sustain the demand. The rental market has boomed but the rentals have gone up and not affordable for those who are starting up in their life.
Homelessness has increased. Anyone could lose their job or fall ill and end up not being able to pay their rent or mortgages. If family or friends are not there to help they can easily end up homeless. Thanecoin wants to solve this problem.
With their vast experience in construction, they want to buy land and construct affordable housing in the UK. A rent to buy scheme will be introduced where those who don’t have enough money for deposits can buy their new build properties. Rental would be calculated as a percentage of the base rate, which would be substantially lower than the market rental price. Once they are ready to purchase the property the amount of rent paid will be used as their deposit and sold to them. Since their properties won’t have any debt attached to it we can charge reasonable rents. Preference would be given to certain job categories like Nursing, Teaching etc.
Their goal is to create a system where ownership of properties will become risk-proof. A decentralized property market which is outside the boom and bust system we currently have.
The Thane property limited is a registered property company in England is poised on leverage on the disruptive features of the Blockchain technology and cryptocurrency to revamp the homeownership history in Britain by providing a property backed assets cryptocurrency where owning a ThaneCoin gives you access to owning a property. Solving a crucial economic crisis and creating a decentralized token for an ICO based on the Ethereum ERC20 and use the proceeds to purchase residential and commercial properties for the rental market.
Thane Coin ICO
The ICO is going to go live on April 16th, 2018 at 10 AM GMT. Project protocol is ERC20 and is powered by Ethereum blockchain. Exchange Rate for 1ETH will be 1000 TPI. They have distributed their Token Sale to allow maximum tokens were allocated for investments. The tokens will be allocated as follows:
- 88% Investments
- 5% Team Pool
- 5% Management
- 1% Charity
- 1% Marketing
Their aim is to make TPI a part of property purchasing. With the new coin and their own exchange, they want to create the environment ready for the coin to be used as a payment medium. Once the coin is ready to be converted they will apply for necessary licenses to make us provide more services for the property market. Prepaid cards with an easy to use a system where TPIs are converted to FIAT and stored. These prepaid cards can be used for all your daily usage. The transaction charge will be very minimal compared to the other payment process available.
ThaneCoin fails to provide a precise goal, a business model or a reachable objective. Their Whitepaper is a 19-page document filled with cliches and fails to have any purpose. It is recommended that investors stay out of this ICO or do their due-diligence properly.