Decentralised Real Estate Platform Offers Cash Back and Token Rewards
DirectHome, a service provider in the real estate sector, is offering users on its online platform the opportunity to buy, sell and rent properties without the need for a real estate agent, thereby significantly reduce transaction costs. The platform also offers cash back and rewards to contributors via Tokenomics, powered by blockchain. DirectHome is launching a token generation event for its token – DIREC token.
The company is a decentralized, crowd-sourced and transactional platform designed to provide the complete real estate database globally while facilitating property transactions between all existing stakeholders including homeowners, seekers, agents and developers, in an efficient ecosystem via the ERC20 blockchain with smart contract implementation.
There are two general classes of assets – financial and real. Real Estate Investment Trusts and listed property firms traverse both types of assets because while they are financial products, they are premised on physical real estate assets. Among asset classes, real estate has been slow to trends observed elsewhere in fintech. This is usually attributed to the fact that real estate is heavily regulated, ownership registry-based system.
A number of real estate inspired crypto-currencies have emerged with token events purporting to use blockchain technology to replace or improve the existing real estate environment. Examples range from using smart contracts for leases to bypassing national land registry ownership regimes through the blockchain network.
DirectHome already has its own proven platform that has transacted more than $350 million in property value. Accordingly, when the current DirectHome website has been integrated with blockchain technology, users will be adopting the native tokens developed by DirectHome. The cash back mechanism will be implemented in Singapore first, followed by the regional markets and globally.
The company also includes a crowd source contributory platform that rewards its contributors whenever value adding real estate data is uploaded onto the platform. Together with the community and public contributions, this encoirages the building up of the platform globally which is transparent to all stakeholders.
The token sale will commence on the 15th of May 2018 (12:00 PM Singapore Time, GMT +8) and end on the 15th of July 2018 (11:59 AM Singapore Time GMT +8). The generated fund will be used for different purposes including IT Developments, marketing and sales, operations and administration, international expansion, development fund, and bug bounty program.