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RE: IS FUTURE TOKENIZATION OF PROPERTY MARKET something we should all be aware of?

in #blockchain5 years ago

Hey @crypto.piotr,

I came across this platform sometime back in Oct or Nov 2017 I guess. I am not really sure though. Brickblock is conducting their pre ICO during those days. I was excited about the idea after going through the whitepaper of this project. As far as I remember I will put the information here.

This project works like an apartment. In Apartment there will be so many flats. Each flat is owned by a particular individual. And they have their own rights. Apartments have different rules compared to individual houses. In the same way Brickblock will find a property which is for sale. That will be kept on sale for token holders. If the token holders are interested they can invest like 1000 dollars or what ever they desire in the form of BBK tokens. It might be of any amount. This will go on till the property acquires full amount. So technically here the property will have multiple owners depending on their investment. So if they want to rent out that property they will be getting rent as per agreement and for the individual part.

Coming to the legal implications BBK has separate legal cell which will handle these things initially before auction and they will keep the property or land for sale.

I hope this clears the confusion.

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