Slovenian-based Blocksquare announced last week that it’s holding a crowdsale starting April 18 to raise funds for its Ethereum-based real estate platform.
Blocksquare stated that its tokens will be backed by commercial properties, allowing token-holders to have fractional equity in the real estate market.
Blocksquare’s platform will also allow real estate brokers to market their properties to hundreds of potential investors, the company touted.
“With Blocksquare’s tokenization model, brokerages can sell a property to 100 buyers rather than just one, which enables deeper markets and improves liquidity,” said Blocksquare CEO Denis Petrovcic, in a statement. “Blocksquare gives the everyday internet user with savings in their bank account the option to hold stakes in multiple properties – minimizing the risks associated with real estate ventures and paving the way for a new real estate market powered by blockchain.”
Blocksquare also boasted that its network allows anyone to easily and freely trade tokenized assets without being bound to long-term liabilities, making real estate suitable for the needs of a new wave of cryptocurrency backers.
To ensure trust in its product, Blocksquare stated that it has a proof-of-title protocol in place to link smart contracts to the underlying real estate property.
Each real estate property in the network is represented by a single “PropToken” smart contract to define rules and regulations for that specific property, the company explained. The proof-of-title protocol checks data in the registry and what’s defined in the smart contract to ensure everything stays the same. If there’s a change, like a transfer in ownership, the user will be notified of the change.
The company added that the PropToken smart contracts are granted in exchange for “Blocksquare tokens,” which go on sale on April 18.
To learn more about how to contribute to Blocksquare during its public crowdsale and join the whitelist, visit https://dashboard.blocksquare.io/register.