The birth of RENS and the real estate manifesto

2022-02-16
alternative

Introduction

Real estate has always been a reliable way of storing value throughout history. It has gained popularity not only as a store of value but also as an income source over the last decades generating income for it’s owners. Although it is a secure way of storing value as an asset, it has become more difficult to obtain and invest in due to extensive paperwork, middlemans. It’s fast growing market capitalization led to a higher minimum entry barrier. It has gotten harder for the lower and middle class to become a homeowner dooming the working class to rent or a lifetime of mortgage payments. Real estate has far more slower transaction times and boundaries when compared to other exchange-traded equities. This makes it more difficult for the investor step in to the market or transfer value



Rens

Immutability The blockchain contains a certain and verifiable record of every transaction ever made, which mitigates the risk of double spending, fraud, abuse, and manipulation of transactions. Censorship resistant The crypto economics built into the blockchain model provide incentives for the participants to continue validating blocks, reducing the possibility of external influencers to modify previously recorded transaction records.

Property Manifesto of Rens Token

The value of all the world's real estate reached $326.5 trillion in 2020, a 5% increase on 2019 levels and a record high. But the industry has major bottlenecks such as:

  • Time-consuming, paper-driven, predominantly offline due-diligence process.
  • High title insurance and related costs due to chain of title and lien recording issues, fraud risk, required diligence, and cumbersome clearance process.
  • Slow, expensive, and opaque financing mechanisms and payments, especially in cross-border transactions
  • Inefficient property search process due to fragmented listings data

Blockchain technology is:
Near real-time
The blockchain enables near real-time settlement of recorded transactions, removing friction and reducing risk.
Trustless environment
Blockchain technology is based on cryptographic proof, allowing any two parties to transact directly with each other without the need for a trusted third party Distributed ledger
The peer-to-peer distributed network records a public history of transactions. The blockchain is distributed and highly available; it also retains a secure source of proof that the transaction occurred
Immutability
The blockchain contains a certain and verifiable record of every transaction ever made, which mitigates the risk of double spending, fraud, abuse, and manipulation of transactions.
Censorship resistant
The crypto economics built into the blockchain model provide incentives for the participants to continue validating blocks, reducing the possibility of external influencers to modify previously recorded transaction records.