Blockchain evolution in real estate development
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PRE ICO Dates : 01/03/18 – 15/03/18
The cases of fraud in the course of construction and real estate transactions have been solved to this day mainly through state rulemaking, judicial mechanisms, and the institutions of professional lawyers and appraisers.
However, the success of single positive cases does not solve the systemic problem of the industry. State regulation instruments are not flexible enough for the real estate market, the legal system of many countries is inefficient and does not provide a comprehensive solution to the problem of fraud.
SUCH SOLUTION IS PROVIDED BY TECHNOLOGIES FOR BUILDING TRUST – BLOCKCHAIN AND SMART-CONTRACTS.
Smart-contracts allow to prevent risks of misuse of investors’ funds. They nullify any construction risks by programming the construction processes and writing off funds to contractors, decentralizing the processes and creating construction solutions under the control of the interested buyer community.
Blockchain as a global decentralized registry provides: transparency of project information, decisions, permits, contracts with contractors, schedules, orders and accounts. This is an ideal solution for reducing the risks of the and falsification in construction.
Together, these tools provide a system of checks and counterweights that exclude collusion between the participants in the construction process.
Today’s decisions on blockchain in real estate are aimed at creating a safe registry and preventing the illegal transfer of property rights.
Today, there is no single integrated solution that will increase the efficiency of construction, while reducing the cost of real estate and improving the quality and availability of finished housing.
The SquarEx ICO solution assumes the creation of an Ecosystem of circulation of square meters of constructed and finished buildings with an exceptional architecture, an exceptional ecology, high investment attractiveness and affordable cost.
To enter the ecosystem of SquarEx, architectural projects must undergo a due diligence procedure, which eliminates risky projects. Auditors conducting the procedure are selected by Branch-Curators. In the Final Vision, Branch-Curator can be any holder of tokens who blocked their own tokens and who is interested in the Branch development process
After that, projects can place their tokens during the Initial Square Offering on the SquarEx Exchange. In the Final Vision Initial Square Offering is the process of placing square meters of construction projects on the SquarEx Exchange.
If the architectural project tokens are allowed to be located in the ecosystem, this automatically means minimal risks of non-completion of construction, low cost of space and high quality of finished real estate.
IN THE FINAL VISION SQEX TOKEN – IS A COMMON TOKEN FOR MUTUAL SETTLEMENTS OF SQUAREX ECOSYSTEM PARTICIPANTS.
In the Final Vision, the SQEX token is used for:
- Payment of the cost of placing an application for Initial Square Offer (ISO), including the cost of due diligence of the application, the cost of digitizing a construction project (creation of a smart construction contract);
- Acquisition of square meters of projects in the course of ISO on the DEX SquarEx exchange;
- Mortgage and leasing payments;
- Participation in the auction of builders and auditors;
- Settlement of penalty payments for poor quality audit and poor performance of construction work.