Brikcoin Is Transforming The Housing Industry Using Cryptocurrency
BRIKCOIN, a property start-up, has developed a novel financial model to answer the massive shortage in affordable housing availability in the UK while resolving the lack of liquidity for loans into private developments.
According to research initiated by housing charity – Shelter, 3 million new homes need to be built in the UK by 2040. Presently, just 6,000 homes are being made every year.
Deploying blockchain technology, BRIKCOIN intends to build, obtain, or redevelop the property to create 100% affordable housing properties.
Presently, investors in private development businesses and funds cannot remove their investment quickly. When faced with mass removals of investor stakes, the companies have to, in turn, trade their property assets at below-market rates to return funds.
James Hare, a BRIKCOIN CEO, is persuaded that blockchain technology is currently the only technique to solve the UK’s affordable housing crisis while including the community and secure investors’ advantages and liquidation.
He said, “Of all the benefits of blockchain, liquidity is the kicker for BRIKCOIN. Property investment is an inherently illiquid asset class. BRIKCOIN’s model allows investors to liquidate their investments on global cryptocurrency exchanges, 24/7.”
“I was already working on a conventional affordable housing solution, an issue close to my heart, and at that time, I was also beginning to learn more about cryptocurrencies and the benefits of blockchain technology. I then thought, what if we could create a truly cross border effect, to combine blockchain technology with a centuries-old understanding; land and property. The outcome is BRIKCOIN.”
BRIKCOIN’s novel model is, according to James Hare, why BRIKCOIN will supersede in rendering affordable housing while preserving the community and investors involved in the long run.
The primary aim of this project is to improve the liquidity of the investment in affordable housing, as well as the transparency of all processes that happen on the network. This is accomplished through the complete implementation of the Ethereum blockchain and the all-encompassing use of the ERC-20 compliant token BRIK.
The BRIK platform will grant the chance for token holders from all over the world to invest in the items of real estate built on British soil and made accessible for rent. Once the investor picks the appropriate piece of property to invest in, using BRIK tokens, he can keep track of the related key performance indicators through the analytical dashboard provided on the platform, endowed with state-of-the-art real estate asset management system.
The ROI comes in the form of profit share from property sale and rent payments. BRIKCOIN is a win for local authorities, its a win for investors, and it’s a win for those in the necessity of affordable housing.
While cryptocurrencies have garnered something of an objectionable reputation, the idea of BRIKCOIN explains that by prizing power out of the control of regulators, blockchain can be used more prominently.