This article talks about BrikBit, one of the first ICOs on Lisk, scheduled for the 18th of October – the second, actually, after the recent pre-sale of MADANA, another project building on Lisk.
What is BrikBit?
The BrikBit project is a blockchain-based ecosystem to manage operations for the Real Estate industry. Within the sector, BrikBit wishes to use blockchain technology to automate, disintermediate and make more transparent all processes of a Real Estate enterprise. It uses a logic similar to Lisk’s sidechains, allowing each Real Estate project to create its own blockchain and to customise it, according to the desired rules – and to the local legislation.
This short video might help to capture BrikBit’s value proposition:
Real Estate Digital Asset (REDA)?
BrikBit bases its project on digital assets on blockchain – a topic widely discussed in the sector. They wish to use a native token on their blockchain, representing the Real Estate developments, called REDA (Real Estate Digital Asset).
This token contains the complete profile of a building, including data such as the structure, design, materials and so on. All the information will be organised according to a specific protocol to manage each property. Therefore, the REDA tokens work as an interface between the building and the blockchain platform. In addition, being digital assets, the tokens are linked to specific projects and can be used to signal property and ownership of a building. The tokens will also be issued to follow distinct legislations – depending on where the building in question is located.
Users will be able to manage the tokens thanks to RE-DApps: Real Estate Decentralized Applications.
Thanks to the REDA tokens, users will be able to agree on correctness of property data and on its uniqueness. They also allow users to partition ownership of a building or a project, enabling them to sell only a small partit...