XRED – Disrupting London Real Estate Development Using Blockchain Technology
The latter part of 2017 has seen the market dominated by ICOs whose contributions are nearing the $2.5 billion mark. Having outperformed traditional VC funding for the first time ever, ICOs are changing the funding game for start-ups of all types.
[Note: This is a press release.]
The blockchain industry is rapidly growing and it is critical that new entrants into the blockchain space are managing themselves with the utmost integrity as they continue to innovate.
XRED Foundation is a perfect example of a project that is doing just that. The “X Real Estate Development” project (XRED) aims to develop a technological and organizational model for the real estate development market based on blockchain technology.
The real estate market is an integral part of people’s lives and the introduction of blockchain technology into this sphere will take society many steps ahead to allow them to adopt a new level of existence by alleviating tax inefficiencies and applying secure blockchain technologies to a completely new and revolutionary concept in Real Estate.
The idea is, anyone can invest in the first cryptocurrency fund for real estate and participate in developing UK & Central London Real Estate (initial step). All investors will have their own ICO-wallet and will be able to govern XRED tokens securely and quickly. The XRED Foundation uses the Crowdfunding process to secure the best sites for developing projects thereby creating capital to make a profit for participants.
ICOs have dominated the press and are a popular fundraising model, partly due to its unregulated nature. As popular as ICOs are, this lack of regulation is also a cause for concern to many would-be investors. To alleviate this concern, XRED technologies will allow interested parties to invest in projects for the purchase and construction of new real estate projects with high speed and unsurpassed security. XRED removes the unnecessary steps in real estate transactions, which will have a significant impact on the final value of transactions.
Any real estate construction projects will be able to safely attract investments from project participants, and the participants themselves will be able to safely invest in such high-risk transactions. The platform will have the opportunity to protect the interests of the investor through various mechanisms.
For example, through the mechanism of allocation of funds for purchase and construction after receiving supporting documents on the implementation of the first stage of the deal. Thus, financing, the spending of funds, distribution of profits will be visible to all participants of the fund. The blockchain technology allows you to work honestly and openly even with medium to high-risk transactions.
The list of those who will benefit from this great project includes but is not limited to investors, builders, and real estate agents.
The XRED Foundation plans to raise funds for investing in the construction of real estate and profit will be realized through the withdrawal from such projects at the point of sale. The first stage for investment will be selected projects located in the UK, in particular, Central London.
So Why Real Estate?
In the post-war period, construction of local government housing increased tremendously. Home builds reached over 400,000 per year in the late 1960s. However, from the 1980s onward, the government retreated from building houses, instead leaving it to the private sector and a small contribution from housing associations.
Due to strict planning legislation, the supply of housing has failed to meet government targets. We believe the housing market is grossly underfunded, yet property outperforms every other asset class in the medium to long-term. For this reason, coupled with the fact that the banking sector has no appetite for investment in property development ventures, there is a real opportunity for cryptocurrency with blockchain technology to fill this void.
XRED will be built on the Ethereum blockchain utilizing smart contracts. Investors will be provided with tokens in return for raised funds during the pre-sale and ICO. The tokens themselves can be exchanged in a free market when they are listed on exchanges. Holders of tokens can profit from investing in XRED Foundation in the construction of various developments.
Important information for token holders will be sent out on the channels available and indicated in the holder’s profile. Anyone can use the information on the site to make a choice about entering or leaving the fund.
The software solution XRED-wallet will make an operation of investing in the fund, making a profit from investing, viewing all the necessary information for making decisions in a safe mode and without using the services of intermediaries.
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