Although there are few constants in the world we live in, one thing is sure; real estate is one of the most well-known and lucrative forms of investment. Not only does an investment in real estate result in passive income, but any wealth earned in real estate can be passed down from generation to generation, almost indefinitely.
While there are many benefits to investing in real estate, this form of investment vehicle is typically met with high barriers to entry, including the high cost of buying a property and other fees typically common in the international market. Among these concerns are a lack of integrity and security, time, government restrictions on foreign investors, difficulty transferring money globally and minimal transparency when executing the transaction itself. As a result, many continue to overlook this industry when they are starting out, despite the upside potential it presents.
Contracoin was created to eliminate these barriers, providing new investors with a simple solution through the use of blockchain and cryptocurrency. Crypto has already successfully demonstrated its ability to democratize the process of buying and selling digital assets. The team behind Contracoin is now looking to apply these same benefits to the real estate market with their own platform. Features of Contracoin allow users to browse from a list of properties from several international markets with integration through existing real estate portals. Investors can then build entire portfolios using 100% Contracoin tokens.
Their team shares, “Contracoin was founded with one vision in mind.” That is, “make property ownership easily available to the masses and form the most limitless venue to buy real estate.”
Changing the game
To ensure processes go smoothly, the company builds on almost 30 years of experience serving investors in Australia (the country they are based in) and several international markets. Since its founding in 1992, the company has facilitated over $1.6 billion in asset transactions, continuing to earn the respect of property owners today. Contracoin is now operating with a focus on residential and commercial properties in the emerging real estate industry. These are the opportunities that often display high returns and potential for capital growth.
Looking closer at the project itself, the platform is centered on the Contracoin token (CTCN), a smart contract based on the ERC-20 standard on the Ethereum (ETH) blockchain. The token will act as the facilitator of streamlined property transactions across borders. Traditionally, when an investor purchased a property in another country, they would typically have to navigate the conversion of dollars to pounds, in addition to the other complex processes previously associated with cross-border purchases. Contracoin tokens hold the same value regardless of where they are used, eliminating once complex conversion processes.
The blockchain is also used to ensure real estate transactions are conducted with improved efficiency, speed and transparency. Additionally, the nature of the technology in providing a permanent ledger also helps reduce the potential for human error in the process. By leveraging the Ethereum blockchain and their own Contracoin marketplace, investors can further take advantage of using other digital assets, including Bitcoin (BTC), Ether and several other major altcoins.
Investing without the upfront cash
To address concerns around the upfront investment typically needed, Contracoin has also released DepositMate™. This program uses the Contracoin stablecoin (AUDC) to help facilitate real estate purchases without a large cash deposit. The stablecoin can be used for between 5 and 20 percent of the deposit for an eligible property for those who qualify for the program. Although, the purchaser will be required to be eligible for a home loan from their bank or another lender to fund the remaining balance of the purchasing price.
DepositMate™ is only one of the plans the team has for the future. The Contracoin team also plans to expand and move into the United States market as the concept of tokenizing real estate continues to gain momentum.
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