Investors in the real estate market usuallyexperience stability in their investments, with a greater margin of profits and lower risks of loss. This is because of the great appreciation overtime in the property acquired. However, the structure and regulations that control the real estate transactions are quite inefficient. This is because most transactions take up to several months to be closed out, while they can be handled in a matter of days. The presence of many intermediaries such as banks and third parties, together with enormous documentation – hamper trade and will gradually make transactions to become more expensive. But that is about to change.
LEAXCOIN is a decentralized platform in a global community format with the evolution of blockchain in the real estate industry. The platform will bring about solutions to all the problems with real estate transactions, both in the purchase, renting, leasing and launch of real estate or in the property registry. The transactions conducted in system are guaranteed against alteration and tampering. This new innovation will transform the real estate process into something more intuitive and highly secured. The focus of the platform will be the elimination of intermediaries and establishment of a peer-to-peer transaction process that will respect the jurisdiction of the country in which it is being conducted. Individuals will be able to receive payment anywhere in the world by means of the platform’s token with absolute guarantee. The table below shows the growth of the real estate market in different continents over the past one and a half decade;
With the advent of new technologies such as Leaxcoin the real estate industry can potentially experience a sky-rocketing growth, more than the above described statistics. The LEAXCOIN is more than just a cryptocurrency platform, it is a community made up of investors, negotiators, property, brokers, agents, institutions, notary, companies, specialists, and developers, that will promote solid integration of with organizations and local real estate registry offices so as to enable the platform’s smart contract acceptable as a legal buy-sell document as well as a legal representation in the transfer of those properties. The community will be an ecosystem where transactions are assisted and supported by several programs, such as the platform’s Ambassador Program, in which the community ambassadors will have to offer all the legal solutions in every country of operation, and these solutions will be voted upon by community members, thus establishing the integration with the Leaxcoin technology; thereby making it a comprehensive and integrated system which facilitates the real estate process transition to the blockchain through the Leaxcoin platform and ecosystem.
Furthermore, this slack in technological implementation in the real estate market has caused disagreements between the parties involved with regards to issues like leasing of estates, contracts and transactions. Although the traditional method still accrues profit for the buyer but the presence of intermediaries still makes it tiring and abortive. Most clients are sometimes coerced to enter their data into portals and third parts, thus increasing cost and reducing innovation and potential investors. The Leaxcoin platform will put the buying or leasing of properties in its simplest form as described below;
BENEFITS OF LEAXCOIN TO REAL ESTATE INVESTORS
The direct approach implemented by the Leaxcoin platform will help in mitigating or eventually eliminating the current trading problems facing the real estate market, and these problems include huge start-up capital that drive away small investors. Moreover, the traditional application process for acquiring finance is quite time consuming and incurs unnecessary costs. Traditional acquisition of real estate properties as said above inflates the real price of the property, however Leaxcoin removes the existence of such unnecessary cost. The platform equally guarantees a stored record of every conducted transaction that are immutable, in order to avoid fraud, loss or duplicity of documents in the real estate processes. While using the platform,it won’t be necessary for investors to repeatedly verify every document involved in the transaction process with intermediaries, every document is only perused by the parties involved. Being a peer-to-peer network for real estate transactions, investors do not need to worry about negotiating foreign properties, transactions can be done seamlessly with no borders or foreign and geographical delimitations. The platform be user-friendly which will allow for an easy and simple way of interaction in the real estate transactions in a decentralized service.
KEY ELEMENTS OF FOCUS
The main focus of the platform will be on the following in order to achieve efficiency:
Property Registry: the platform will aim at ensuring that the whole process will be feasible, safe and fast with regards to real estate transfer. However, such safety is guaranteed by means of the blockchain technology that will be implemented which will ensure an unchangeable database. The entire platform environment is intended for local and global communities, with the tools, the applications and solutions to a full integration with registry, notary and government institutions, following the local jurisdiction for the transfer of title deeds.
Apart from just being just being a platform that guarantees immutable data, Leaxcoin will integrate its strategy into real estate organizations and registrars, making them comply either with the local jurisdiction, which will eventually guarantee the authenticity and legal legimacy. By means of the much work accomplished by the community Leaxcoin will move forward as the world’s platform for real estate transactions.
Smart Contracts: in being the largest global reference in smart contracts, Leaxcoin will not only bring about an innovative project, but will put together the conscientious effort of all the parties involved when it comes to integrating all the approved regulations for property transfer into the platform. The contracts consist of Real Estate contracts, Property listing, and Crowdsale. Thecontracts conducted in the platform are self-fulfilling agreements between the network members. They are carried out transparently, free from conflicts, without high costs and time consuming third parties and banks for verification. Every information entered into the smart contract is automatically treated according to a previously agreed protocol. Individuals can use a personalized smart contract to meet the specific contract needs of their real estate transaction that will always be in subjection to their local jurisdiction.
The process for conducting transactions in the Real Estate contracts are as follows: the both parties will have to agree to transact a property, the Leaxcoin manages the relationship between the parties involved, and the Leaxcoin executes and closes the agreement. However, the both parties involved must have the Leaxcoin wallet. These steps are illustrated below;
The Property listing allows the property owners to list their properties for rent or sale and distribute them to rental and sale popular sites on the internet. This type of contract is between the property owner and the platform. The Crowdsalehappens in the launching of a real estate project, where companies’ developers and owners are allowed to tokenize a fraction or percentage of their developments into real estate assets so as to sell them at the launching stage.
LeaxcoinWallet: the wallet will be developed on the Ethereumblockchain network, which is encrypted to avoid fraud and theft. This will ensure that the personal data of every user is not stored on any server, and the assets of every individual is always under his control, and these assets are locked in the local storage of the portfolios away from any server. Having the wallet leverages the opportunity to receive from anyone in the network. It will make it possible for one to participate in the ICO, and always review registered transactions that are immutable. Although a certain amount is charged during transactions for network maintenance and for the incentivizing of users who process the transaction.
Global Support and Community: the community is a decentralized organization, it is a real community with real estate specialists all over the world who are referred to as ambassadors. All the implementation on the Leaxcoin platform will have the support of the community, which are always encouraged and actively rewarded for their involvement, which will in turn stimulate the excellent platform member’s performance in development, marketing and real estate solutions. With the force of the community and the developing team, Leaxcoin will be built as a global community of the blockchain enthusiasts, who provide each other with new resources to foment the real estate world revolution.
TOKEN DISTRIBUTION
The token will become a global currency that is built in compliance with the ERC20 standard based on blockchainEthereum technology.
Token Name = LEAXCOIN
Symbol = LEAX
Decimal = 18
Token Total = 2,000,000,000
Type = ERC20
Price = 1 Leaxcoin = $0.05 (represented by 0.0001 ether)
There will be events held that will offer a total of 1 billion tokens, and the revenue generated will help in the financing of research and platform development.
Pre ICO (private investors) + ICO = 1,000,000,000 (50%)
Awards and reservation for community = 460,000,000 (23%)
Bounty = 300,000,000 (15%)
Team (frozen for 12 months) = 240,000,000 (12%)
The tokens are more preferable to be utilized when making transactions, in order to achieve maximum efficiency. Other accepted crypto coins will be Ethereum, Bitcoin, and Litecoin etc.
CONCLUSION
With the outstanding growth of the cryptocurrency market, the world is being driven towards that direction with regards to conducting transactions, because of the ease and agility by which the transactions are being carried out. The Leaxcoin platform will focus on the real estate sector in conducting transactions, and nullify the existence of excessive intermediaries who hamper trade and make transactions more expensive. The cryptocurrency will be used for payment within the system, and investors and owners of real estate companies will be able to negotiate their properties without any kind of intermediary, and also receive real time payment anywhere in the world. The platform is an opportunity for a promising gain, not only because of the appreciation of cryptocurrency, but also for the transaction of more profitable assets. It is also an open source project designed by a global community of totally self-funded and high qualified developers, designers, economists and blockchain cryptography enthusiasts, who have committed to take the Leaxcoin platform to one of the most frequently used platforms in conducting transactions.
For more information about the ICO and others visit: http://leax.io/
Whitepaper: http://leax.io/whitepaper-leaxcoin.pdf
Github: https://github.com/Leax-Foundation
Written by Cryptowin1
Profile Link: https://bitcointalk.org/index.php?action=profile;u=2068163