We recently talked about the blockchain and the many active projects in the real estate sector based on this innovative technology, which are collecting important investments around the world.
The blockchain is a distributed and immutable public register, which allows you to store information and transactions quickly and securely without having to go through intermediaries.
Do you need to brush up on your memory? Read ” Blockchain in real estate: everything you need to know ”
The project we are talking about today, interviewing CEO Alessandro Dell’Orto, is BrikBit , a blockchain-based platform that aims to integrate process management in the real estate sector. The value of this solution? Automate, disintermediate and make processes in real estate initiatives more transparent.
Before starting the interview, here is some technical data about BrikBit:
- the project will rely on a sidechain, that is a blockchain active parallel to the side of the main blockchain, represented by Lisk ;
- the consensus method is a variant of the Proof of Stake (PoS), or the Delegate Proof of Stake (DPoS), here a mini-video that explains it very well;
- The token will be called BRIK and can be used to create additional Sidechain Real Estate which will be called REDA (Real Estate Digital Asset).
First of all, we thank you for granting us this interview Alex. Let’s go into the details of the idea immediately, what was the process that led to the birth of the BrikBit project?
Greetings to the entire WeAgentz community and thanks to you for the interview.
I come from experiences in the real estate world both as an architect-designer and as a manager of investment initiatives. After the 2008 crisis, a period in which the banking sector was unable to give resources to real estate initiatives, I thought about using the Bitcoin block chain for an alternative system of financing and sharing accounting information in a safe and transparent way. From that primordial idea of “ colored Coins ” (as Bitcoin tokens are called) I came to the final definition of Brikbit ‘s “ Blockchain Real Estate ”.
Explaining how the blockchain works is not always easy. When concepts such as “smart contract” and “token” are also involved, the company becomes even more demanding. Alex, could you explain in a simple way to our readers what the BrikBit platform is and the purpose of the REDA token?
The BrikBit platform wants to combine the intrinsic innovation opportunities of the blockchain with the needs of the industry, with the aim of developing a truly flexible and scalable ecosystem for the management of data and value transactions throughout the life cycle. of real estate: design, construction, maintenance and renovation.
The creation of a blockchain-based digital platform finds its foundation in the need to implement dedicated applications (the so-called RE-DApps) for a transparent, fair and unchangeable management of the exchange of information contained in the REDA, which are currently non-transferable.
The creation of a digital asset (REDA), to which today we can only associate the concept of ” token “, which is representative of the value of the properties and freely exchangeable by the actors within the process, can generate new management opportunities and concrete opportunities of earnings for all subjects.
Which target is your service aimed at?
Our target focus is on all real estate projects with a value between 5 and 25 million euros that require an efficient system to manage data and financial transactions of international scope.
Will you rely on an existing blockchain or will you create your own?
Lisk will be the main reference blockchain and BrikBit will be a connected sidechain in which the entire BrikBit Digital Shares platform will be developed.
The BaaS (Blockchain as a Service) market is experiencing a lively period of experimentation. Recently, for example, the case of the “tokenized” property in Manhattan, in which hundreds of small investors have had the opportunity to invest, has caused a stir. What do you think will be the direction of the real estate market in the face of these recent innovations?
This “experiment” has generated a lot of expectations in the industry. However, I would like to point out that, for the specific example of Manhattan, using this system you invest in debt and not on real property and, for reasons of US law, the limitation of participation in this operation is only allowed to so-called ” qualified investor ”, who would then be professional investors and not small investors. Having said this, it must be said that these examples can be the beginning of a new method of managing and financing real estate operations. Like many of my colleagues in the Blockchain Community, I think a real paradigm shift is taking place.
Read ” Real estate tokenization: $ 30 million blockchain property in New York “
BrikBit’s ICO (Initial Coin Offering – a financing method) has just been launched (November 29, 2018), what results do you expect? And what will be the very first steps once the seed is finished?
Given the depressed state of the market, we will not have the desired results. However, we are confident in a continuous interest on the part of private and venture capital funds, which certainly do not stop in the face of this situation of the “Bear market”. We are already working on the first implementations of our road map and agreements for the first pilot project.
Instead, always remaining on the ICO theme: from a marketing point of view, how did you go about promoting your Initial Coin Offering? What channels and strategies have you adopted to reach your target?
We have worked internally, with the skills of the team, to try to convey the most direct and immediate messages possible. Being a global project, we used the resources of the network to be able to translate the different messages into the most known languages. These were the main means and contents:
- use case videos, interviews in different languages and promos in different languages;
- registration and supervision of ICO listing and ICO rating sites to have our project evaluated by experts;
- marketing actions through AIRDROP ( distribution, ed ) of our token for promotional purposes, with targeted social media marketing actions on Instagram, Twitter, Facebook and LinkedIn;
- world tour through meetups and trade fairs in Europe, Asia, USA, Middle East;
- meetup development through our community in the USA.
From the point of view of online reputation, who were the reference figures for the BrikBit project and which personal branding strategies were implemented?
My figure as an expert in the blockchain and real estate sectors was a point of reference to bring clarity on what we were doing. In fact, it is not always easy to talk about the two topics.
If a real estate agent came to you at this time to ask you about the future evolution of the profession, what would you tell them?
Agents will always be important reference figures for managing interpersonal relationships in the various real estate development communities. Maybe they will not be paid with the same methodologies, but the professional capacity will increasingly be aimed at being an active figure in the process, and not a passive intermediary. Greater skills and continuous updating will be needed to help customers overcome the digital divide that will also be encountered with the advent of this technology (the blockchain, end).