One of the many improvements cryptocurrencies brought upon our society and technology is the Blockchain. The blockchain is a set of blocks that contain records. In Bitcoin, the blockchain acts as the register for every transaction that has ever been made using the cryptocurrency. That, effectively, turns mountains of paperwork into an open source code available to anyone over the internet. And it is kept secure by many different servers spontaneously communicating with each other.
That is what makes the blockchain so secure, the fact that there are thousands of different computers continually finding new blocks and recording transactions into them instantaneously. Thus, making hacker attacks complicated and expensive because they would need to hack more than half of the computers to successfully alter the blockchain. Moreover, the hacker would also have to affect the ledger registry faster than the speed in which the network reviews the nodes.
Bitcoin only uses the blockchain a ledger, and once you realise what the blockchain is, and its nature as more than record-keeping platform, the possibilities in which to use the blockchain become endless.
A great example of this is Japan, who began to upload property ownership registers into the blockchain to allow for a more transparent and quick verification of property rights and their legitimacy whenever someone has to see them.
Another example is the government of Estonia, which has successfully uploaded most of its public services to a blockchain platform.
The Estonian blockchain includes healthcare registers, police cases, and citizen’s IDs. That allows for numerous possibilities, like real-time tracking of police officers, and even online voting.
There is another topic that is closer to cryptocurrencies that can be solved by using the blockchain. And that problem is market volatility.
How to control the market.
There are hundreds of investment tricks and tips you can use to hedge your bets and avoid dealing with market volatility. And while that is a good idea, you can also use this new player in town called Brickblock.
Brickblock looks to solve the issue of cryptocurrency volatility by offering users different funds where they can invest their cryptocurrencies into real estate or any other form of asset.
These funds are backed by the Brickblock token to facilitate transactions. The number of tradable currencies available to users is virtually endless, and the system uses Ethereum’s smart contracts to guarantee the transparency.
Smart contracts are self-executing contracts available on the Ethereum blockchain that allow for transparent transactions because they are automated and visible to anyone who accesses the Ethereum network.
Ergo, dealers and managers will be able to list their investment opportunities after being thoroughly checked by the Brickblock. These verifications include proof of residence, criminal records, credit reports, and any other information that ensures or denies their legitimacy as a reliable investing option.
Additionally, Brickblock is committed to eliminating the common issues related with the crypto the market. From high volatility to allowing people to purchase assets with cryptocurrencies. All of this without the usual high costs of regular brokers, and with the legitimacy of a blockchain.
Brickblock is different from other projects in aspects such as:
- Brickblock enters legally binding contracts with each fund. These contracts are legally enforceable as a direct liability from funds to investors.
- Allowing for only physical shares and commodities to avoid betting on derivatives.
- It ensures investor security through ESCROW by the asset-first principle. This means that the smart contract will only transfer the investors’ fund once the assets have been delivered to avoid scams.
- Brickblock doesn’t try to eliminate the traditional economy, but rather combine the older methods of investing and the newer available technologies.
Who can benefit from Brickblock?
Pretty much anyone can benefit from Brickblock. From first-time investors to real estate fund managers, anyone profits from the reduced fees and safety of investment along with the ability to manage different currencies without the need for multiple wallets or exchange fees.
And how does Brickblock work?
The technology behind Brickblock is the, previously mentioned, blockchain technology. Brickblock uses this technology, specifically the Ethereum network, to produce smart contracts.
Once a smart contract is produced, then it will work for a specific type of fund. The user will access the smart contract to invest in the asset offered, and deposit the precise amount of the currency needed. Once the transaction is made and registered on the blockchain, the system detects the asset’s transfer and releases the money to the other party.
The different options users have are:
- Real Estate Funds: The platform will enable fund managers to list real estate projects for users to invest on. Real estate has the potential to generate fund through rent, as well as the price of the property itself. Brickblock will start offering real estate in Europe before spreading across the globe.
- Exchange Traded Funds: ETFs allow for investing without a minimum amount established; thus, allowing for portfolio diversification with minimum capital. Brickblock will enable users to vote on which ETFs are included.
- Coin Managed Funds: These are like regular mutual funds, but targeted for the crypto market. Managers apply an extensive array of strategies to manage investors’ funds. Naturally, investors can choose which approach and managers to trust.
- Coin-traded Funds: Smart contracts that map the ETF mechanism into the blockchain. It allows for close tracking of crypto assets and stores digital wallets in cold storages to offset the lack of smart contracts outside of Ethereum.
The Brickblock Initial Coin Offering
To fund this ambitious idea, Brickblock is launching an ICO of Brickblock tokens (BBT), starting on October 31st. Each token will be priced at $0.40 USD per BBT.
Moreover, only 500 million tokens will be sold. And after the ICO is over, there will be no other way to acquire BBT at all.
The reason for the lack of Brickblock tokens is because BBT will be used to generate Access Tokens (ACT), which is the real cryptocurrency used in the Brickblock platform.
By taking advantage of BBT during the ICO, users will be able to continuously generate ACT, and use them to pay for smart contracts or any transaction fee inside the platform. Additionally, BBT holders will decide ACT prices, since only the Brickblock token owners will be able to produce ATC and control its market supply. So if you want to be part of the revolution, get into Brickblock before is too late.