To develop its real estate solution BLOK chose the Elrond Network blockchain for its efficiency and for its promising evolution. In addition to its specific characteristics such as Adaptive State Sharding and its Secure Proof of Stake consensus mechanism, which gives it robustness and security, BLOK also chose it for its ability to deploy blockchain at an Internet scale. Its low operating costs as well as its ,speed of operation are also factors that favored the choice of this blockchain.
The BLOK platform based on blockchain technology will make real estate liquid by allowing a token representing a fraction of a property to be bought and sold instantly on the secondary market.
This solves two problems. The first is that an asset that is considered “illiquid” will lose value as the buyer will also experience this resale problem. This is called the “liquidity tax”.
The second is that an owner wishing to resell his real estate assets must nowadays be patient because of the administrative red tape, the intermediation of the notary, the time it takes to find a buyer, etc. Once again, the BLOK platform and the blockchain make it possible to solve these problems.
The virtues of blockchain, including the possibility of splitting assets, instant settlement of transactions and peer-to-peer exchanges without intermediation, play an important role in this area and allow greater liquidity of real estate assets.
To meet the numerous legal constraints of French legislation, BLOK will finance its real estate acquisition projects by offering its users financial securities.
Technically, it is not the real estate that will be tokenised on the blockchain but the financial securities allowing the financing of the property in question.
These financial securities are debt securities (bonds) that will be registered in a blockchain. The tokens representing these bonds will be called $BLOK tokens. The $BLOK tokens will be in the nature of security tokens.
In return for their investment, $BLOK holders will receive :
The $BKT utility token. It will be used, among other things, as a tool for the initial financing of the company to develop the various solutions mentioned in the road map.
Beyond the aspect of a speculation tool extremely sought after by early investors, the $BKT will allow its holders to benefit from priority access to the financing of future real estate properties that BLOK wishes to acquire and/or to obtain discounts on future properties for sale on the platform.
An ICO is planned for 2023. It will take place in 3 rounds and will distribute a total of BK$7,000,000.