Blocksquare is one of the crypto projects floating around that wants to revolutionize the industry of real estate through the employment of the very powerful blockchain technology. In order to get an insight into the project, BlockPublisher got in touch with the CEO and Co-Founder of Blocksquare, Denis Petrovcic.
The following Q&A with Denis gives one a complete overview of what this project is all about and how it plans to evolve.
What is the main idea behind the platform?
Denis: Real estate is the biggest asset class in the world. At the same time it’s also one of the most illiquid investments you can make. Generally, investing in real estate is hard, time consuming and capital intensive.
Our solution enables asset managers, crowdfunding platforms and similar companies to easily create, issue, distribute, track and manage blockchain-based digital shares linked to real estate properties. Tokenization increases liquidity and value of assets, making real estate more accessible to investors.
How does it appeal to a normal crypto user?
Denis: Tokenized real estate is the entry point for crypto investors to enter real estate investments without the hurdle more traditional real estate investment models offer. Already today, our decentralized exchange offers crypto investors the possibility to buy small fractions of real estate and receive monthly payments based on their investment.
By giving access to real estate investments to anyone with an internet connection, we believe possibilities are endless.
What consensus algorithm is used at its core?
Denis: We are developing our system on top of the Ethereum blockchain, so all transactions are recorded and verifiable.
What is the projects main focus right now?
Denis: We already developed a functional product. With it companies can tokenize real estate properties and users can invest in real estate. Our goal is to increase the number of real estate assets under tokenization and we intend to achieve this through pilot projects with established real estate companies.
The prospects that are offered by blockchain technology are plenty, and Blocksquare is a project that wants to utilize them in the niche of real estate. Decentralization has large benefits in the form of transparency, anonymity, and security. Various industries are applying this technology to revamp their workflows.
Blocksquare presents forward a viable use-case of tokenization in the real estate arena and in the future, it is likely that only those crypto projects will survive that present forward a strong use-case in such a saturated market. It will be interesting to see how things pan out for Blocksquare as move forward with more and more developments being made in the world of blockchain and crypto.