Currently RxEAL has all the potential to be a one stop solution for security deposit transactions in the ever expanding rental market. By solving the trust problem, we add value to all parties involved, therefore our service generates valuable improvements to the world's largest market.
More people than ever are involved in real estate, cars and other rental deals. Favorable conditions for travelers, developing countries and the increasing flow of cross-border human resources led to the rapid growth of the number of transactions.
The parties involved in the lease transaction agree to certain terms such as the length of the agreement, the initial conditions of the property, the rental price and the amount of the security deposit. Despite the fact that negotiated terms are placed in the contract, a large number of disputes occur thereafter.
Under the agreement the lessor can not refund the deposited funds or only partially refund the funds. Although the reason for such a decision may be reasonable, there are a large number of fraud cases when the party owning the funds does not intend to refund the deposit and will base their decision on the wrong basis. Almost half of the cases of disputes are filed because the deposits have not been returned or the refunded amount is lower than expected.
The involved party may try to resolve the dispute in the negotiation process, use mediation services or settle disputes in court. The process may be long, painful and expensive; Therefore, a large number of people avoid involvement in disputes and approve decisions taken by the lessor with the consequence of eventually losing their deposited funds.
Not only is it important to ensure safe deposit storage during the contract, it is also important that the deposit be distributed fairly and promptly at the conclusion of the agreement.
Industry Overview
Real estate and car rentals are one of the largest business industries in the world that generate hundreds of billions of dollars in turnover. People are constantly looking for the right place to stay, work and travel, thus creating a regular demand for real estate properties and car rental services which are the most popular type of rental deals in the world. The latest market trends show that people are more likely to rent real estate, cars or other assets than to buy it. There are several reasons for this, the most common ones are:
- regular trips abroad for work or leisure purposes.
- a faster life span involves frequent environmental changes.
- reduce maintenance, taxes, insurance, convenience fees.
- decrease in the cost of owning property.
- economic situation and low savings.
high real estate, cars and other asset prices. - With the rise of crypto, companies that have operated in the real estate market and car rental markets for years adapted their businesses to meet future consumer needs. In other words, these companies began accepting cryptocurrencies as a means of payment; Examples are the London-based property company, The Collective and a US-based travel company that offers CheapAir car rental services.
According to international real estate adviser Savills, the global value of all developed real estate reaches $ 217 trillion and is 2.7 times the world's GDP by 2015. Residential property accounts for 75% of the total value of each and the remaining 25% is commercial real estate. plantation. More detailed details reveal that North America, Europe, China and Hong Kong, Asia and the Pacific account for 89% of total residential residential value and 95% of revenues respectively.
The global real estate industry has total revenues of $ 3.505.2 billion in 2016, representing a 4 percent annual compound annual growth rate (CAGR) between 2012 and 2016. According to various sources, lease transactions collect nearly one-third of revenues each.
It is worth noting that the value of US housing reached a record high and worth $ 29.6 trillion in 2016. Tenants pay a cumulative $ 478.5 billion in 2016 - an increase of 3.8% ($ 17.7 billion) from 2015. About 635,000 a new tenant house formed in 2016 contributes to the amount of rent incurred. Apartment tenants spend nearly $ 50 billion more than single-family house tenants by 2016. Furthermore, according to data available on the US Protection Protection Agency website, on October 8, 2017, a total of nearly 112 million tenants in the United States, while the number of masters the land is almost 23 million.
Based on the performance analysis of two popular online platforms for short-term lease transactions, we can see that about 150 million people use Airbnb and nearly 1 million of them are residents who generate 3 million real estate property listings. According to Booking.com data, there are hundreds of millions of orders made each year that generate billions of dollars in revenue. Although these numbers are impressive, they represent only a fraction of the total rental market of real estate.
At the same time, the global car rental market is worth about $ 58 billion by 2016 and is expected to reach nearly $ 125 billion by 2022.
Lease and Dispute Deposits
The deposit amounts for real estate rental transactions vary across countries. In most cases, the lessor requires an amount equal to a 1-2 month lease. According to some reports, the amount of guarantee deposits in the United States is largely based on a one to two month lease that averages over $ 1,0009, while in the UK around four weeks' lease with an average of around £ 800. Meanwhile, the amount of deposit in China may vary from one to six months of rent. In average Baltic countries usually vary from 1-3 months rent.
According to the information available on the car rental company website, the savings required by companies and individuals vary widely and on average are $ 200- $ 800 for the smaller car category.
Significantly, closer dispute statistics analysis shows that some countries have adopted a time deposit protection scheme; Examples include Britain, New Zealand and their respective states in the US. Although the level of disputes in these countries is lower, according to some reports, it can reach 15%, while, according to the information provided on the website of the Deposit Protection Service, only 2% of their clients have a dispute.
Project Overview and Business Model
By combining blockchain technology with daily lease transactions, we can build an entirely new way for users without the technical knowledge to take advantage of the benefits offered by smart contracts. We believe that RxEAL is the answer to the increasing demand of consumers involved in real estate, car rentals and other transactions involving security deposits. We provide a safer, faster and cheaper solution than traditional alternatives.
To use the services provided by RxEAL users are required to have Ethereal's wallet treated as a prerequisite. We will provide all the necessary guidelines for users who are not satisfied with this condition.
As a first step to saving deposit money on blockchain, the lessor makes draft versions of smart contracts by filling out the specified forms in accordance with the terms of both parties that have been previously agreed upon.
The contract design is then available for review by the lessee. If accepted, the smart contract is ready for placement. To spread the contract, the lessor must pay a commission on the RXL token. As soon as the contract is deployed, the tenant sends another ETH or crypto to his address to complete the process.
Funds are kept in a smart contract in the Etaceum block until the end of the contract period or until terminated. This platform will provide a variety of ways to interact with smart contracts, for example by giving the lessor an option to split a deposit on a refund to cover damages but will require the agreement of both parties - no one can change the contract unilaterally. term.
When the contract period ends and no dispute begins, the deposit will be processed in accordance with the division proposed by the lessor or the original contract terms. If the lessee disagrees with the split between themselves and the lessor, the dispute may commence by paying the arbitrator commission in the RXL token. The process of dispute involves providing information by both parties in support of their claims. Our legal expert will prepare the template with all the information needed to be provided in a simple and easy to understand way that makes it possible to conduct disagreement review in the shortest possible time.
Disputes will be submitted to the arbitrator for review and decision-making process. Three arbitrators who are verified, independent and random will review each case and the results will be determined by a majority decision, based on evidence provided by each party. Each arbitrator shall receive the same portion of the RXL token of the arbitral commission. To become a verified arbiter, users must pass an online exam to prove that they are eligible to participate in the dispute settlement.
The proposed cost structure is shown in Table 2.1. All prices are shown in USD equivalent.
This model provides competitive pricing for clients and ensures efficient corporate function and profitability while at the same time providing financial initiatives for arbitrators. For example, an arbiter working 8 hours per day and reviewing one dispute every 30 minutes can get an RXL token equivalent to 60 USD every day.
The current price model proposal is less oriented to which the lessor uses RXL to pay for the service. We believe that our service provides a competitive advantage to the lessor by allowing the product to be offered to tenants seeking transactions and protection faster than unfair bondage deduction, therefore the lessee tends to choose lessor rental products, while the lessor is willing to pay a small premium fee for such services. This pricing model can change if we find another model that is more suitable and useful for our clients. We also consider offering a custodian scheme where we will deposit the deposit and earn interest, therefore, making our service absolutely free.
Solving Cryptocurrency Volatility
To keep the value of the deposit relative to the fiat currency Rxeal in cooperation with Maker Dao will offer users to store their savings in smart contracts in the form of the appropriate ERC20 Dai Stablecoin standard. Dai is a crypto that maintains a stable value against the USD. Ultimately, this option will ensure that upon termination of the contract the user will receive the ETH amount relative to the value of USD originally deposited. To learn more about Dai, visit: https://makerdao.com/ Given that the volatility of cryptourrency is one of the main factors that people are reluctant to use, the implementation of the Dai deposit will primarily expand the client base.
Deposit Ether
2 Initially an ETH worth $ 600 was put into a smart contract. During the contract period, the ETH value increased by 40% against USD-2 ETH which is now worth $ 840 redistributed
2 ETH originally worth $ 600 deposited into a smart contract. During the contract period, the ETH value decreases by 10% - 2 ETH which is now worth $ 540 redistributed. Although the value of ETH decreases, the amount of ETH that is returned does not change
Dai-Based Deposits2 ETH originally worth $ 600 converted to Dai and saved into smart contracts. During the contract the value of ETH increased by 20% against USD - $ 600 can now be exchanged for 1 2/3 ETH. The recipient maintains the same fiat currency value while the amount of ETH changes to reflect the initial purchasing power of the deposit.
2 ETH originally worth $ 600 converted to Dai and saved into smart contracts. During the contract period the value of ETH down 20% against USD - $ 600 can now be exchanged for 2.5 ETH. The recipient maintains the same fiat currency value while the amount of ETH changes to reflect the initial purchasing power of the deposit.
Blockchain Architecture and Technology Platform
To provide more details about this project, we have explained the technical aspects of the RxEAL platform below.
Blockchain Technology
The RxEAL project utilizes the Ethereal blockade technology to execute sophisticated logic in smart contracts at network nodes.
The Ethereal Network is currently the most advanced smart contract platform with an outstanding team behind it, as well as a growing framework of developing libraries and user base. It is vital for our platform users to have the highest level of trust in the underlying network and the knowledge that the project continues to improve.
Deposits are kept within a smart contract and can not be canceled by any party unilaterally unless the pre-programmed conditions agreed upon by both parties are triggered by a smart contract. This approach eliminates the possibility of violation of the terms of the contract. RxEAL does not store deposits and also does not have access to funds saved in smart contracts in Etre Block. RxEAL is a platform that provides user interface to generate and implement smart contracts without the necessary technical knowledge. Deposits for smart contracts will be made in ETH or Dai ERC20 compatible token.
Platform Architecture
Figure 2.2 shows the current platform architecture solution that our developer team is developing.
2 Initially an ETH worth $ 600 was put into a smart contract. During the contract period, the ETH value increased by 40% against USD-2 ETH which is now worth $ 840 redistributed
2 ETH originally worth $ 600 deposited into a smart contract. During the contract period, the ETH value decreases by 10% - 2 ETH which is now worth $ 540 redistributed. Although the value of ETH decreases, the amount of ETH that is returned does not change
Dai-Based Deposits2 ETH originally worth $ 600 converted to Dai and saved into smart contracts. During the contract the value of ETH increased by 20% against USD - $ 600 can now be exchanged for 1 2/3 ETH. The recipient maintains the same fiat currency value while the amount of ETH changes to reflect the initial purchasing power of the deposit.
2 ETH originally worth $ 600 converted to Dai and saved into smart contracts. During the contract period the value of ETH down 20% against USD - $ 600 can now be exchanged for 2.5 ETH. The recipient maintains the same fiat currency value while the amount of ETH changes to reflect the initial purchasing power of the deposit.
Blockchain Architecture and Technology Platform
To provide more details about this project, we have explained the technical aspects of the RxEAL platform below.
Blockchain Technology
The RxEAL project utilizes the Ethereal blockade technology to execute sophisticated logic in smart contracts at network nodes.
The Ethereal Network is currently the most advanced smart contract platform with an outstanding team behind it, as well as a growing framework of developing libraries and user base. It is vital for our platform users to have the highest level of trust in the underlying network and the knowledge that the project continues to improve.
Deposits are kept within a smart contract and can not be canceled by any party unilaterally unless the pre-programmed conditions agreed upon by both parties are triggered by a smart contract. This approach eliminates the possibility of violation of the terms of the contract. RxEAL does not store deposits and also does not have access to funds saved in smart contracts in Etre Block. RxEAL is a platform that provides user interface to generate and implement smart contracts without the necessary technical knowledge. Deposits for smart contracts will be made in ETH or Dai ERC20 compatible token.
Platform Architecture
Figure 2.2 shows the current platform architecture solution that our developer team is developing.
Business Development Strategy
RxEAL will invest heavily in marketing and sales activities to drive business growth.
Partnership Network
To ensure the successful development of the RxEAL platform and to attract new users, we will create partnership agreements with companies whose business-specific needs secure deposit storage and fair dispute resolution processes including, but not limited to, real estate agents, property development and rental companies car. In addition, we plan to join an authorized community operating in real estate, car rentals and other fields whose purpose is to protect the rights of their members. The main areas for partnership network development are the United States, Asia, Canada, the Middle East, Latin America, Australia, Eastern Europe and the West.
Event Marketing
Participation in industry-related conferences and events is an important part of our business development strategy that will provide a platform to meet industry pioneers, experts and potential customers who can share in-depth information about RxEAL, future plans, share experiences and answer potential questions. . Furthermore, we will sponsor major industry conferences and events discussing the future of the blockchain ecosystem. We plan to host several workshops to educate our potential clients and clients about the RxEAL platform and the benefits of blockchain technology.
Search Engine Optimization and Search Result Advertising
It is important to invest in rankings across various search networks like Google, Yandex, Baidu and Bing. We will continue to work on search engine optimization activities that ensure continuous compliance with various search engine ranking algorithms, and invest in search results ads using programs like Google AdWords. With the help of ad campaigns on the search network, we plan to reach an audience already looking for storage and dispute resolution services. To achieve the best results and the highest ROI, we plan to use the services provided by specialized agencies while concentrating our resources on business development issues.
Online advertising
To target potential clients, we'll launch targeted ad campaigns using services like Google AdSense. We plan to invest in various banner campaigns on industry related websites and news portals.
Marketing and Social Media Advertising
The importance of social media presence has increased greatly; Therefore, RxEAL will be present actively on Facebook, Twitter, LinkedIn, YouTube and other popular social networks. Furthermore, ad campaigns will be launched on LinkedIn, Facebook, Twitter and YouTube. In addition, we will use the popular YouTube and Twitter blogger services to advertise our services.
Content Marketing
To provide value-added information about our services and to highlight relevant industry developments, we will maintain a corporate news blog. In addition, working with various news portals, information about the RxEAL platform and our services will be available in the form of press releases and articles.
Cold Call (B2B)
Cold calling remains one of the most effective sales tactics, therefore, we plan to enter into service agreements with multiple call centers located in different regions to reach clients from different countries as well as to adapt to cultural and business differences across our targets . area. Cold calling will only be used for B2B purposes. The purpose of the cold calling activity is to provide detailed information about RxEAL to our potential clients and arrange meetings for individual platform presentations.
Regional Office
An important factor for the growth of our business is the physical presence in the target area, therefore we will establish local offices in several countries. The main tasks of regional offices are the development of partnership networks, promotion of our services in local markets, prospective client education and providing local support to old users.
Roadmap
Business Development Strategy
RxEAL will invest heavily in marketing and sales activities to drive business growth.
Partnership Network
To ensure the successful development of the RxEAL platform and to attract new users, we will create partnership agreements with companies whose business-specific needs secure deposit storage and fair dispute resolution processes including, but not limited to, real estate agents, property development and rental companies car. In addition, we plan to join an authorized community operating in real estate, car rentals and other fields whose purpose is to protect the rights of their members. The main areas for partnership network development are the United States, Asia, Canada, the Middle East, Latin America, Australia, Eastern Europe and the West.
Event Marketing
Participation in industry-related conferences and events is an important part of our business development strategy that will provide a platform to meet industry pioneers, experts and potential customers who can share in-depth information about RxEAL, future plans, share experiences and answer potential questions. . Furthermore, we will sponsor major industry conferences and events discussing the future of the blockchain ecosystem. We plan to host several workshops to educate our potential clients and clients about the RxEAL platform and the benefits of blockchain technology.
Search Engine Optimization and Search Result Advertising
It is important to invest in rankings across various search networks like Google, Yandex, Baidu and Bing. We will continue to work on search engine optimization activities that ensure continuous compliance with various search engine ranking algorithms, and invest in search results ads using programs like Google AdWords. With the help of ad campaigns on the search network, we plan to reach an audience already looking for storage and dispute resolution services. To achieve the best results and the highest ROI, we plan to use the services provided by specialized agencies while concentrating our resources on business development issues.
Online advertising
To target potential clients, we'll launch targeted ad campaigns using services like Google AdSense. We plan to invest in various banner campaigns on industry related websites and news portals.
Marketing and Social Media Advertising
The importance of social media presence has increased greatly; Therefore, RxEAL will be present actively on Facebook, Twitter, LinkedIn, YouTube and other popular social networks. Furthermore, ad campaigns will be launched on LinkedIn, Facebook, Twitter and YouTube. In addition, we will use the popular YouTube and Twitter blogger services to advertise our services.
Content Marketing
To provide value-added information about our services and to highlight relevant industry developments, we will maintain a corporate news blog. In addition, working with various news portals, information about the RxEAL platform and our services will be available in the form of press releases and articles.
Cold Call (B2B)
Cold calling remains one of the most effective sales tactics, therefore, we plan to enter into service agreements with multiple call centers located in different regions to reach clients from different countries as well as to adapt to cultural and business differences across our targets . area. Cold calling will only be used for B2B purposes. The purpose of the cold calling activity is to provide detailed information about RxEAL to our potential clients and arrange meetings for individual platform presentations.
Regional Office
An important factor for the growth of our business is the physical presence in the target area, therefore we will establish local offices in several countries. The main tasks of regional offices are the development of partnership networks, promotion of our services in local markets, prospective client education and providing local support to old users.
For more information About RxEaL please visit the following links:
WEBSITE, WHITEPAPER, FACEBOOK, TWITTER, TELEGRAM
Bitcoin :https://bitcointalk.org/index.php?action=profile;u=1377420;sa=forumProfile
Autor : Sanusi