Konkrete will be a Blockchain-enabled fractional property marketplace. It will enable anyone to crowdfund their home deposit or release equity from their existing property, without taking on additional debt via crowdfunding or bank loans.
Using a novel financial structure, we address the structural issues faced by existing fractional property platforms. Putting the fractional property fund on the Blockchain allows us to achieve a wider distribution, liquidity, governance and transparency by utilising a distributed, decentralised approach. This fractionalproperty token on the Blockchain may also serve as a global currency at a future date, due to its various uses.
This fractional-property solution will be classed as a security, and we will build the Blockchain infrastructure to support it. This includes the ability to handle KYC, AML, CTF, a distributed-unit registry and distributed-shareholder voting.
Once built, this infrastructure will have the capacity to support a number of other securities from various third-party issuers, as well those who are interested in leveraging the power of Blockchain. In effect, the underlying infrastructure will be everything that tokenising securities on the Blockchain requires. As part of this paper, we also describe this infrastructure and propose a utility token called Konkrete, which will power this new ecosystem.
Rising house prices are preventing home buyers from entering the market. On the other hand, existing owners find it difficult to access the equity in their properties. Lastly, getting into the property investment game is cost-prohibitive for most budding investors. Konkrete solves the affordability challenge by connecting buyers, owners and investors in a unique structure powered by Blockchain.
Konkrete helps property developers raise capital faster through a global network of property investors and aspiring homeowners. This reduces heavy reliance on banks and closed networks of investors. Liquidity for investors from day 1 encourages repeat investments in subsequent projects within a shorter interval too.
Unlisted Retail REITs lack investor visibility and face higher investor acquisition costs. Lack of liquidity also results in investors not finding them as attractive as other offers. These conditions often make it more difficult and more expensive to subscribe the fund. Konkrete makes these funds visible to its global network while maintaining the security of investment offers through the use of smart contracts.
The Konkrete Token (KKT) – an ERC-20-based token – will power the Konkrete platform and form the lifeblood of its ecosystem. Within our ecosystem, KKT will provide utility in the form of listing and transaction fees, recording of unit holder votes, AML/CTF checks and more.
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