Bitproperty is a Japan based startup which, with its online platform (currently in closed beta) is poised to help circumvent the financial and regulatory restrictions plaguing the real estate market.
The Ethereum blockchain based project will allow its users to create, buy and sell two different kinds of tokens which represent the rights for revenues generated by a certain real estate property. The different tokens are:
- Asset Tokens are issued for each property or asset listed on the platform with the amount of tokens issued against a specific property representing its value.Owners can decide whether to register all, or only a portion of their holdings. Dividends are paid based on the performance of the asset.
- Bitproperty Tokens (BTP) represent the inherent value of the platform and are also backed by Bitproperty’s managed assets, including a $30,000,000 solar farm. They pay dividends from energy sales and from platform transaction fees when owners list assets and users purchase asset tokens.
On October 15th, Bitproperty will start offering BTP tokens to investors for 0.0001 ETH each for a full month or until the 100,000 ETH cap is reached. Bitproperety is preparing for a public beta release in January 2018 with the final release of the platform being in March 2018.