BrikBit, the first Lisk-based platform for Real Estate industry, announces today the launch of the project and the upcoming ICO.

BrikBit aims to automate, disintermediate and make more transparent all the processes that characterize a Real Estate enterprise, such as fund collection, design, creation and management. The platform will have its own blockchain managed according to a Delegate Proof of Stake consensus protocol and each new project will be able to create a sidechain with its own rules and features, according to the country and legislation of the project itself. Each different sidechain will be able to have its own independent token.

The Value proposition

The Real Estate sector, an industry that worths $ 217 trillion, is characterized by illiquid funds, difficulty to understand the mandatory rules for each operation and huge barriers need to be overcome when entering the industry in order to make a profit.

BrikBit aims to optimize the transaction process of value between players (saving financial resources), to determine a more equal and transparent redeployment of value and optimize verification and evaluation process of the final value of a property.

The platform will allow the creation of REDA (Real Estate Digital Asset) that will represent the interface between the blockchain platform and the real building. Each REDA will be associated to a unique Real Estate project and it will have a dedicated, univocal and transferable REDA Token.

The RE-DApps (Real Estate Decentralized Applications) will represent the “core” of the platform and will guarantee the management of information involved within Real Estate processes, creating the framework to identify the expressed value of the REDA.

BRIK features

BRIK will be the utility coin that will allow access to future services of the BrikBit Platform. BRIKs will be necessary and will be used and spent to get access to the platform, as well as to implement REDA,

REDApps and dedicated smartcontracts. BRIKs will also be used to pay the transaction fees necessary for the exchange of information and all type of transaction.

BRIK will also have technological functions: it will be the delegates reward for the forged blocks and to mantain consensus protocol safe; furthermore through the wallet it will be possible to register a Delegate, vote and buy the 2nd Security passphrase.

DPoS Platform

BrikBit plans to be a “1st level” Lisk sidechain, while every project developed on the BrikBit platform will be configured as “2nd level” sidechain, functional to the BrikBit blockchain and with its own autonomy.

Every day approximately 7854 blocks will be forged by 211 delegates and each forging delegate will sign approximately 37 blocks per day, getting a reward equals to 8 BRIKS per block.

ICO Structure

The ICO will be divided in 2 phases. The minimum threshold to assure the basic development of the BrikBit Blockchain Platform and the possibility to change Brik Tokens on the exchange and development of REDA is 3000 ETH. The target amount raised is set to 15,000 ETH, while the Hard Cap is equal to 24,000 ETH.

The total supply will be equal to 100 Million Tokens: 75 Million Tokens addressed to ICO contributions and 25 Million Tokens will be managed by BrikBit team.

Roadmap

After the ICO Phases, the Roadmap takes into account the release of the Main net blockchain for Q4 2018 and complete the token Swap from ERC20 to BRIK. In Q1 2019 the team plans to test the first sidechain REDA and kick off BrikBit platform with REDA main sidechain in Q2 2019.

For more information about the project: brikbit.io

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