REGO - Decentralised Real Estate Trading Platform Built on the Blockchain Technology
It long has been the world of focus and concerns for the investors and traders everywhere the globe. Real estate is that the oldest basket for the investors and that they are forever optimistic concerning the expansion of the arena. Several investment corporations of the globe have heavily invested with within the sector and its future development.
Lack of quality and reliable property listing platforms, long method of getting and managing properties are a couple of the various challenges of the real estate business. There are multiple challenges within the business that have restricted the expansion of the arena within the world. Now there's a desire for the clear and reliable platform that allows individuals to take a position within the assets sector. So the platform called REGO has been developed to solve the problems in front of real estate industry.
REGO could be a world assets commercialism platform supported the blockchain technology designed to disrupt the normal assets market. Security, transparency, and fixity are the core options of the platform. Property development tools and management tools are provided to the users on the REGO platform. It’s a reduced group action fee compared to the opposite platforms.
An application is accessible on the automaton, iOS, and also the net. Blockchain technology is employed to support the P2P network and verify the transactions from the primary block to the last block. 3D Virtual tours are provided to the shoppers before the property is bought.
REGO Token is employed on the platform for the worth exchange. It permits participation of totally different property agents from different elements of the globe. World properties are accessible on the platform that was earlier unprocurable on the digital medium. Giving access to the scheme for individuals across the globe, they're going to expand the horizon to Malaysia and Europe.
Owners of tokens will be responsible for the effective use of funds as a result of any stage of sales. In the future, these tokens can be exchanged for cash. The platform and its functions will serve as a launching pad that provides technological superiority and use of coins, but the future value of tokens will be determined by overall investment in the project.
By 2020, the full implementation of the project and its further evolution are planned.Tokens are based on clever contracts to eliminate errors and decentralize distribution. The total offer of tokens is 55 million units. 72% of them are allocated to the crowdsale.
The cost of one REGO token is 0.000625 ETH or 0.53 dollars at the beginning of sales with additional bonuses. Hard cap is equal to 20 thousand Ethereum.In general, the sales phase begins on May 1 and will last until July 31. It includes presale since May 14, token sale since June, 15th. The distribution of the tokens will take place on August 1.
Using the proceeds: 40% - search for sources; 20% - reserve; 15% - marketing; 10% - development of costs; 10% - administrative costs; 5% - legal service.
On the technological development side, in 2018, it was planned: release of the dashboard, release of the White Paper, launch of the crowds dale and all stages of sales, release of the tokens and their distribution, hiring key personnel and a beta version of the platform.
In 2019, it is planned to integrate with partners, as well as the ability to work through web pages and on mobile devices. A plus is an attempt to explore potential markets in Asia, Europe and Canada.
A number of measures have also been taken from the property inventory and it is planned to be completed by 2020.
People are fed up with the chain of intermediaries who seem to thrive on these challenges in the sectors. The long list of middlemen in the real estate industry is the reflection of the entrenched corruption and opaqueness in dealing with properties. With the invention of cryptocurrency and blockchain technology, there is a hope of redefinition of the principles on which the real estate industry works.
The market size of the real estate is 217 trillion dollars and it is the largest class of global assets. There is a need for reduction of inefficient components in the market. The future looks promising given the technology development in the sector. Do you think that this platform will be able to deliver the services offered to the investors.