The modern era has witnessed the advent of cryptocurrencies that though not have been opted as an official substitute for the concrete fiat currencies but sure have impacted every alley of the financial town. Rentberry seems quite amused by blockchain technology as it strives to incorporate the very technology for streamlining its business flow. Rentberry deal in rentals dealing with tenants as an intermediate party connecting them to the landlord.
Rentberry is based in San Francisco, California, United States of America, with headquarters established in San Francisco Bay Area, West Coast, Western US. Founded on 28th of August, 2015, it boasts a team of about 23 employees (as the whitepaper suggests) along with its founding members including Alex Kotovskov, Alex Lubinsky and Denis Golubovsky. The founding members have acquired the positions owing to their liking and choosing as we see Lubinsky as the chief operating officer, Golubovsky as the chief technology officer and Kotovskov as the lead designer.
Lubinsky has also founded CityHour and has previously acted as the business and financial analyst for different companies, boasting a bachelor’s degree in Economics and Business Administration. Golubovsky has past experience as a member of the developing team in many ventures bearing a master’s degree in informational security management. We find Lubinsky and Kotovskov previously working together from their time in CityHour, where, later on, Alex worked as the UI/UX designer.
Rentberry’s services can be stated as providing a rather user-friendly platform that can leave both the dealing parties e-signing off over agreed terms in much lesser time. Rentberry keeps record of every landlord as he/she proceeds with his tenants, with ratings based on many financial and behavioral factors. The agreement papers have now been turned to e-papers and can be signed digitally. Thus, people who dedicate days to this procedure now have to keep a couple of minutes besides keeping to one’s schedule, eliminating the hectic agreement signings.
Rentberry Key Accomplishments
Rentberry claims that the future holds a large spot for the rental hoseholds as currently there are about 2 billion people residing in a rented place with 59% new households to be built by 2030. The number of tenants is expected to grow in the future. The inclusion of blockchain technology into the mix ensures a secure and easy transfer of data from its one node to another throughout the network. The rental statuses can be all over for the willing to notice and produce the agreement papers for the very household, eventually reaching to the landlord.
Established in 2015, the Rentberry protocol has been a continuous success. Rentberry supports the long-term rental programs and is currently dealing in thousands of users involved in a property of worth above $224,000. Rentberry issued a token sale which encompassed a total 11 countries with VCs from the respective countries pouring funds prior to Rentberry ICO as they turned up with a balance of $4 million.
Rentberry turned up with yet another approach that bears the potential to yield millions as savings for the tenants. Rentberry also offers a co-signor status for the members of the Rentberry community. The Rentberry platform also has a blog where the company discusses issues regarding their system and announces major breakthroughs.
What Rentberry Aims to Solve
Though Rentberry bears various flashy features, but as there always can be a blessing in disguise, there are also adversities behind ever glittery product which the developers intend to get through. The protocol incorporates blockchain technology into the retail platform which is surely somewhat secure but not as hasty and transparent as the tenants have to fight the other tenants searching for an apartment and need to have face to face negotiations with the household lenders. The liquidity matters are also fumbled in some senses and the capital is frozen over a successful deal. The limited investment also drags back the pros of the virtual rental platform.
Rentberry developers also suggest solutions as they diagnose the malady altogether. The tenants can opt their choosing as to what sort of agreement they converge with the landlord owing to the competition. This tends to the conclusion of a decent deal with a win-win outcome. Frozen capital can be dragged out of the shadows as Rentberry launches a co-signor network with the members of the Rentberry community who can opt to sign up for the network eventually unlocking an immense amount of capital.
Rentberry operates in about 5000 cities around the globe where, as of late, a total property of worth over 224,000 has been dealt in with a capital raised to 4 million dollars in fiat currency during the two seeding rounds. The company boasts an experience of about 150 years in the business dating back to the times when technology was a mere fantasy. Now that we possess the latest tech to be used for our favor, Rentberry devs resorted to incorporating the blockchain tech into the play.
Rentberry further intends to include the online utility billing system along with the likes of proprietary scoring system that can be viewed as the landlord’s reviews by the company.
Though switching to latest technologies is sure a good omen, the need of the hour is to keep the techs under constant surveillance as the systems are yet to mature and bear an unfathomable amount of drawbacks and fault alerts yet to surmount. The digital financial market is growing more rapidly than we can ever imagine and it either would dissolve owing to the limitations of the digital platforms, or would face serious scams and frauds if left unattended. In this regard, Rentberry seeks to achieve a good monetary system that runs without any third party intervention.