RxEAL is a platform for trustless and safe security deposit storage on real estate using block chain technology which helps in fixing market for the rental security and deposits globally. The platform provides a decentralized dispute resolution with the main focus on real estate and automatize real markets valued at higher mounts easily as it require only requires the users to have the Ethereum wallet with no technical knowledge.
POSITIVE VALUES
Ease transactions: The platform provided by the block chain technology eliminates the growing number of fraud cases in handling rental transactions associated with unfair withholding of the funds for the security deposit at end of the rental agreement by providing an interface through the smart contracts offered by the technology. It promotes easy and faster deposit returns and cost effectiveness as compared to the traditional rental solutions.
Security: The smart contracts once agreed upon and signed ensures that the rental deposits on real estate are securely stored on the Ethereum block chain throughout the course of the agreement with no possibility of changing the terms of agreement in order to access the funds.
On the other hand in case a disputes arises, it is handled by qualified personnel who have adequate experience on the use of the platform ensuring that the deposit is shared accordingly preventing any further losses.
NEGATIVE VALUES
Token functionality: The RxEAL only provides the contributors right to use the real token platform and not any further investments. The owners have no rights for any future advancement for as it doesn’t provide them with the ability to invest their income in owning a property making the project biased
Risks: The contributors adequately understand that the project can fail or be dissolved at a certain point once there is less demand by the public and cannot be beneficial at all times however much they put all their best efforts in the project.
RECOMMENDATIONS
RxEAL is the perfect solution to the increased demands of the growing consumers on real estate, car rentals and other transactions that require security deposits. The project ensures that the contributor’s funds are secure and easily accessible once the agreement contract expire. This adds values to all the parties involved hence resulting to improvement of the Worlds markets making the project viable.
