Blockchain is already permeating the real estate industry at an accelerating pace. The impact may not yet be widely visible at the surface level, but the groundwork is being laid to take advantage of the emerging but flourishing technology to redefine the way properties are bought and sold. .
Bricktrade aspires to be a pioneering force guiding this transition (or rather, revolution, if you will).
Brickyard: an overview
For those not in the know, Bricktrade is a UK based real estate company. It was started in 2018 by Founder and CEO Guv Kang, a serial entrepreneur with 15 years of experience in the real estate industry.
During this time Guv also founded the upscale London-based real estate company Waterfronts.co.uk with an established office in Hong Kong.
So, as such, Bricktrade is an established business with a decent track record and a team displaying 120 years of collective industry experience and Â£ 21bn in property transactions.
However, the company aspires to become more than just a regular real estate platform. And to achieve this, he turned to blockchain technology and smart contracts.
Bricktrade is the first platform of its kind in the UK with a legally tested mechanism for tokenization of real estate.
Bricktrade is supported by Alphabit Fund and it was also recently chosen by Launchpool as the fifth project of the first cohort of its first class of incubators.
(For the uninitiated, Launchpool is a complete blockchain ecosystem with over 35,000 investors worldwide.)
Lower barriers to entry for investors
It allows users to invest in UK property from anywhere in the world. And that too with Only Â£ 500, they can invest in top quality construction finance projects through Blighty.
Yes, the barrier to entry for real estate investing in the UK is unprecedented with Bricktrade, which probably explains the buzz surrounding the platform.
Plus, there’s no need to spend weeks or months on pesky papers, says Bricktrade. There is no need for credit checks, mortgages or bank deposits. There is also no need to pay any intermediary fees because with Bricktrade you do not need a lawyer, real estate agent, notary, etc.
Thanks to blockchain technology, you can close your investment deals in minutes.
As of December 2021, Bricktrade claims to have Â£ 100million of real estate projects, 1,500 investors and numerous partners on its platform.
How Bricktrade Works
As the first of its kind tokenized real estate investment platform, Bricktrade brings together real estate developers and investors under one roof. The platform offers unique incentives to both groups of users.
For real estate developers
Bricktrade uses its blockchain infrastructure to offer a crowdfunding platform to real estate developers.
Typically, real estate developers rely on banks and large financial institutions to secure funds for their projects. And as you can guess, the investments of these entities come with many conditions, including high interest rates.
With Bricktrade, however, real estate developers can fund their upcoming projects from users around the world. The process is transparent and does not include any hidden extras.
Real estate developers should follow these steps:
- Submit a project.
- Wait for Bricktrade to verify the project.
- Wait for Bricktrade to list the verified project on its marketplace.
- Raise funds through crowdfunding.
- Once the targeted fund is obtained, start building the project.
The company ensures that the crowdfunding process is approved by the FCA and complies with all AML and KYC laws in the UK
As mentioned earlier, Bricktrade allows investors from all over the world to invest in the UK property market
At first glance, the platform has done a neat job in ensuring that even users with little to no prior real estate experience can start investing easily.
Since Bricktrade only uses an FCA approved crowdfunding model, investors can rest assured that their rights are protected by financial laws and regulations in the UK.
What’s even better is that investors don’t have to worry about the technical details and specifics of projects on their radar. Bricktrade’s team of experienced professionals do this on behalf of the user to oversee every step of the process, including the creation and structuring of the deal through to legal, technical and financial due diligence, negotiation and risk mitigation.
To get started, all you need to do is:
- Open a live account.
- Deposit funds into your account.
- Start investing in promising real estate platforms listed on the Bricktrade market.
The minimum investment amount is Â£ 500.
Note that Bricktrade accepts fiat and crypto investments.
Investors can earn up to 10% returns on their investments, which is significantly higher than what you would get from conventional investment avenues such as the banking system in most parts of the world, including the UK
In addition, asset backed investing is another important benefit that Bricktrade offers to all users. This means that a designated portion of the real estate you invest in is wholly yours at the time you sign on the metaphorical dotted line.
For more information and regular updates, visit the official Bricktrade website.
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