BRIKCOIN Tackles the UKs Affordable Housing Crisis Using Blockchain Technology

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BRIKCOIN Tackles the UKs Affordable Housing Crisis Using Blockchain Technology

Property start-up BRIKCOIN has developed a unique financial model to answer the huge deficit in the affordable housing availability in the UK while solving the lack of liquidity for investments into private developments.

According to research undertaken by housing charity – Shelter, 3 million new affordable homes need to be built in the UK by 2040. Currently, just 6,000 homes are being built every year.

Deploying blockchain technology, BRIKCOIN aims to build, acquire or redevelop the property in order to create 100% affordable housing properties.

Blockchain technology, the only way forward

Currently, investors in private development companies and funds cannot withdraw their investment quickly. When faced with mass withdrawals of investor stakes, the companies have to, in turn, sell their property assets at below market rates to return funds. Through market analysis and extensive research, James Hare, BRIKCOIN CEO, is convinced that blockchain technology is currently the only way to solve the UKs affordable housing crisis while involving the community and secure investors benefits and liquidation.

He stated: Of all the benefits of blockchain, liquidity is the kicker for BRIKCOIN. Property investment is an inherently illiquid asset class. BRIKCOINs model allows investors to liquidate their investments on global cryptocurrency exchanges, 24/7.

James Hare became immersed in the benefits of blockchain technology in early 2017 and has since been working on the BRIKCOIN model. Jamess 20 years experience in the property industry and his financial background helped him figure out how blockchain could finally be the technology needed to shape his solution: I was already working on a conventional affordable housing solution, an issue close to my heart, and at that time I was also beginning to learn more about cryptocurrencies and the benefits of blockchain technology. I then thought, what if we could create a truly cross border effect, to combine blockchain technology with a centuries-old understanding; land and property. The outcome is BRIKCOIN.

A unique model for a national crisis

BRIKCOINs unique model is, according to James Hare, why BRIKCOIN will succeed in providing affordable housing while keeping the community and investors involved in the long run.

He explained: Firstly, BRIKCOIN retains ownership of each of its properties, which backs, supports and increases the BRIKCOIN token value. Secondly, in selling the long lease guarantee from the Local Authority to financial institutions, such as the pension funds, BRIKCOIN will typically benefit from a competitive 20% profit. Finally, BRIKCOIN also generates revenues from fees associated with property development and facilities management.

BRIKCOIN will issue 1 billion BRIKCOIN tokens sold on their user-friendly platform accepting FIAT currencies as well as for cryptocurrencies. Following a successfully completed private sale of 10% of this amount, (over £300,000 raised before Q1 2019) the presale and crowd sale will distribute a further 50% of the BRIKCOIN total, with 10%, 5% and 5% set for the team, c ...

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Tags: Blockchain, Affordable housing, Property, United Kingdom, Market liquidity, Crisis, House, Real estate investing, Fiat, Financial institution