21 Mar Blocksquare Democratizes Investments in Commercial Estate with Series A Crowdsale
LJUBLJANA, Slovenia, March 20, 2018 — Blocksquare, a blockchain-based plug and play system to power commercial real estate tokenization, today announces its Series A crowdsale to provide online real estate platforms with a way to tap into the upcoming tokenized real estate market. As the Ethereum of real estate and one of the first real estate projects sold in this way, Blocksquare is developing the infrastructure layer and standard for real estate tokenization and fractional ownership to open real estate ventures for anyone with an internet connection. The Blocksquare token (BST), an Ethereum (ETH) based utility token used to fuel the Blocksquare network, is available to the public in its Series A crowdsale beginning April 18.
“Historically, real estate has been an attractive investment option only accessible to institutional shareholders, but tokenized real estate is set to change that so the financial barrier to entry becomes almost non-existent,” said Denis Petrovcic, Co-Founder and CEO at Blocksquare. “With Blocksquare’s tokenization model, brokerages can sell a property to 100 buyers rather than just one, which enables deeper markets and improves liquidity. Blocksquare gives the everyday internet user with savings in their bank account the option to hold stake in multiple properties – minimizing the risks associated with real estate ventures and paving the way for a new real estate market powered by blockchain.”
Similar to how PayPal enabled online stores with a simple way to accept credit card payments, Blocksquare offers established real estate businesses a solution to market their local commercial real estate deals to a global network of online users. Blocksquare is building a set of protocols, APIs and tools to process commercial real estate property tokenization, so platforms can integrate it and offer tokenized and local commercial real estate ventures. Users looking to participate will simply visit a commercial real estate business online and click a widget-like option to start contributing. Blocksquare’s 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.
Success of the system requires users’ trust in the tokenization process, so Blocksquare has a Proof of Title protocol in place to link PropToken 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 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. PropTokens are granted in exchange for ETH, though a separate token is used to compensate generated rent – the BST token. Beyond rewarding early adoption, BST serves as a level-up system and grants users interaction with the Blocksquare network. The more BST one holds, the more PropToken contracts they can interact with. Deployed on the Ethereum network, PropTokens can be stored in any ERC20 compatible wallet, giving PropToken holders full control of their assets.
Medius, a software development company specialized in IT projects based on open source Java technology, is a development and founding partner of Blocksquare and has assisted in developing PropToken standard smart contracts, PropToken management smart contents, decentralized exchange and more.
To learn more about how to contribute to Blocksquare during its public crowdsale and join the whitelist, visit https://dashboard.blocksquare.io/register.
To learn more about Blocksquare, visit https://blocksquare.io/. Join the official Blocksquare group on Telegram to communicate with the team about the project and the token crowdsale here: https://t.me/blocksquare
Blocksquare Inc., based in Ljubljana, Slovenia, is a team of dedicated professionals, digital currency investors and blockchain enthusiasts on a mission to make real estate investments hassle free, secure and accessible to everyone, everywhere.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/f826fca4-b0d5-4b7e-8456-db7a119599b9
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