LONDON, Sept. 15, 2018 (GLOBE NEWSWIRE) -- Block Estates has announced recently that it is creating the world’s first comprehensive blockchain powered real estate platform which will enable a diverse range of transactional capabilities by utilising crypto and fiat currencies combined with secure blockchain technology and smart contracts. Rob Tomkins, Cofounder and Co-Chief Operating Officer stated, all of this can be done whilst maintaining the best safeguards available.
“All of this can be done whilst maintaining the best safeguards available”
Block Estates plans to initially launch asset-backed tokenized real estate investments that investors can access by purchasing Block Estates ERC20 complaint security tokens. Token holders will enjoy the benefits that will be attached to the Block Estates security tokens including income, profit sharing and potentially token price appreciation.
Block Estates’ overall business model encompasses the creation of a real estate industry ecosystem powered by a blockchain platform. This will provide a frictionless, borderless and efficient system to facilitate a wide range of real estate related services where transactions between parties will be undertaken in real time whilst utilising a safe and secure system.
“Token holders will enjoy the benefits that will be attached to the Block Estates security tokens including income, profit sharing and potentially token price appreciation.”
The introduction of vertical tokenized services in addition to investments is planned to enhance our service offering and position Block Estates to become a global leader in the Real Estate Blockchain market.
The Company has said that development of the platform will be undertaken over three phases with development of phase 1 being well advanced as at September 2018. Launch of the Block Estates beta platform with initial investment features is scheduled for late 2018 with increased functionality being progressively added. Phase 2 and 3 will further expand platform functionality and will facilitate a diverse range of services including real estate asset investment, management, trading and monitoring. Block Estates aims to achieve this through development of a proprietary blockchain platform.
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Block Estates is developing a real estate investment platform for the blockchain era which will give investors direct access to an innovative, lucrative and a real estate backed asset class to invest in. Investments will be launched in leading global markets and investors will gain access to both domestic and cross border investments via the Block Estates platform. An initial portfolio of real estate assets will be secured, tokenized and made available for investment during the Block Estates STO. Investors wanting to take part in the STO can simply purchase tokens from the Block Estates website. The tokens will be implemented through Ethereum Smart Contracts and will be ERC20 compliant. Following the STO, we plan to list the tokens on a digital token exchange to provide trading liquidity.