To develop its tokenised 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 this blockchain.
BLOK’s main objective is simple: to make real estate liquid! 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.
Tokenized real estate 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 now 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 real estate tokenisation platform and the blockchain make it possible to solve these problems.
Each property offered on the platform will be tokenised into several “$BLOKs” of equal value.
Each week, a rent will be paid. The amount of this rent will depend on the amount and therefore the number of $BLOK held.
Buying $BLOK tokens takes less than 10 minutes.
BLOK will take care of :
Investors will be able to decide whether to collect the rents in their account or to reinvest them in new projects or in the marketplace.
Tokenised real estate makes the sector more liquid. This is because $BLOK holders will be able to instantly sell their $BLOK on a secondary market.
Thus, each investor will be able to transfer their assets on a marketplace platform set up by the company and receive the potential capital gain.
In a second phase, BLOK’s objective is to create a new real estate investment vehicle by offering the possibility of collateralising its $BLOK in order to obtain financing via decentralised finance protocols while continuing to receive fractions of the rent.