Global Property Register - Real estate blockchain
Problems
Blockchain technology has the ability to optimize global infrastructure to address international issues more effectively than existing systems in the current context. Here are all the great benefits that Blockchain technology brings us.
Blockchain in different industries will provide transparency throughout the categories. With a financial transaction, you can observe real-time Blockchain transfer status, instead of not knowing how the transaction status is until the transaction ends, a common problem in the current system. Transparency remains unchanged when applied to all values recorded on Blockchain.
One advantage of Blockchain technology over existing systems is the ability to remove intermediate units by allowing people to deal directly with each other instead of going through certain third parties. This helps billions of people who are living in countries where they cannot trust intermediaries because of decaying government, high crime rates, charter businesses, and operations, Manual record keeping or legal options are very limited.
Blockchain allows the development of primary and secondary trading platforms for securities and real estate "often brings new possibilities to limit previously by creating more liquidity and ease of access for homes. sponsors and publishers
Global Property Register is a decentralized ecosystem that provides the first global blockchain world. We leverage blockchain technology to make asset registration easier for mankind, especially in developing countries. Global asset registrations (GPR) are the first global real estate registrations that will have a nature all over the world, including developed and developing countries. It will provide evidence of ownership for more than 4.5 billion people (worth $ 20 million) worldwide that are not currently covered by insurance and therefore cut off from the financial and real estate markets. It will also provide a global asset exchange. This platform will serve as an international digital real estate market for all market participants.
Benefits of the project
Real estate is notably one of the most stable form of investment and it involves a little amount of risk as an investment mechanism. The global total value of developed real estate is over 228 trillion USD, which is higher than the total global traded equities and securitized debt instruments put together and in the year 2016, its global transactions volumes reached about 661 billion USD.
By maintaining an immutable record of property ownership, encumbrance and conveyance, blockchain can provide a certainty of information that allows for a greater level of trust and transparency. It can allow each piece of property to have its own digital address where all information relating to the property may be stored.
This would include financial information, leases, taxes, bills, liens, easements, building performance, physical characteristics and the transaction history relating to the property, potentially eliminating the need for expensive in-depth title searches.
Crucially, all property level information can be encrypted in such a way that only those with permission by the property owner (or agent lender, in the case of a mortgage loan transfer) can be allowed access.
Prevention of Fraud - All transactions that occur on the on a blockchain platform will be cryptographically signed and auditable. The use of timestamps with consensus mechanism on the blockchain has the ability to prevent double booking/selling of the same property unit, which is a common problem when a property is being listed by diferent brokers.
Products and solutions
Global Property Register Mobile APP
You can use everything when participating in their ecosystem.
Then, along with your smartphone and internet connection, you can upload land information or any other property on their blochain register.
This app is user-friendly, easy to understand and gives you up-to-the-minute updates. The app provides you the following benefits: Global asset search, attribute dashboard, analysis provided by Artificial Intelligence, property
registration on Blockchain registration. This application will soon be released and run on Windows, Android, IOS, ...
Solutions
They have experts in providing the best and reliable blockchain-based real estate products. Our experts understand the different requirements of the real estate market and try to provide the most effective solutions. They will provide the following solutions.
Details about token
Similar to some other blockchain projects, they also provide the code for their project, XRX token. Tokens provide access to the ecosystem of GPR solutions and will be traded once listed on the exchanges.
Distribution tokens
Fund Allocation
Upon the completion of the sale of XRX, proceeds from the sale of XRX
will be allocated as outlined below:
1. Technology and platform development - 40%
2. Legal and regulatory - 15%
3. Operations and marketing – 30%
4. Business Development and others – 15%
Roadmap
Their route starts from November 2016 (brings together the team to plan). Then built and expanded step by step until 2021 will expand to global scale. Specifically about the roadmap see the picture below:
Conclude
Like any other new technology, Blockchain also has criticism. A series of questions about the safety and reliability of this technology have been raised, as well as the issue of human error; When used as a database, the information entered must be accurately recorded from the beginning.
However, when technology is more commonly used, these problems will be solved. Meanwhile, technology will streamline the complex and traditional commercial real estate industry.
With the vision of Global Property Register (GPR), a world in which every homeowner can take advantage of the value of his or her property (home or land). Document property is safe and easy to access. Land and property fraud is eliminated, especially in developing countries in Africa, Asia and South America. Therefore, this is a community project and the most effective network.
To understand more about this project please visit the links below:
Website: https://globalpropertyregister.io/
Twitter: https://twitter.com/GlobalRegister
AUTHOR:
USERNAME: Gambangcity
ETH: 0xbd4e6B6E19c55D117badfa5C218Ae03263df6072
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