Real estate investment remains one of the preferred investments of the French. This can be explained by the growing and sustainable increase in property prices over almost the entire country. This makes it a particularly resilient investment in the face of the inflationary problems facing our societies.
The advent of the Elrond blockchain opens the way to new technological innovations for the real estate sector, making it easier for the average person to access what was previously a restricted and tedious market.
BLOK wants to offer a global solution to remove the barriers to the real estate market by leveraging the Elrond Network blockchain and its ability to execute customised smart contracts.
To develop its real estate solution, BLOK chose the Elrond Network blockchain for its efficiency and scalability. In addition to its specific features such as Adaptive State Sharding and its Secure Proof of Stake consensus mechanism, which give it robustness and security, BLOK also chose it for its ability to deploy the blockchain at Internet scale. Its low cost of ownership and speed of operation were also factors in the choice of Elrond.
The BLOK platform based on the Elrond blockchain will make real estate liquid by allowing a token representing a fraction of a property to be instantly bought and resold 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 wait 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 Elrond blockchain make it possible to solve these problems.
The virtues of the Elrond blockchain, which include 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 for 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 Elrond blockchain but the financial securities that will allow the financing of the property in question.
These financial securities are debt securities (bonds) that will be registered in the Elrond 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.