In this article I’ll go further into the PropToken in terms of functionality. If you missed part 1 you can find it here.

Governance

Every PropToken provides a governance function for stakeholders to manage the most important aspects of the underlying property. The decisions made can have important effects on how a property is managed and the results it can produce.

The basis for the governance system is a voting, which divides a group into winners and losers. The vote is limited to those measures which are considered absolutely necessary. Most applications are preset and stakeholders can give a signal on the subject at any time.

The most important preset actions are:

property manager change

revenue stream change

property expenditure

How does a vote take place?

Stakeholders have the opportunity to submit these preset applications by interacting with the respective smart contract. By sending the BSPT to the contract, the stakeholder votes on a change request. The influence of the individual stakeholders is weighted by the number of BSPTs on the account used for the transaction, not by the transaction amount.

The proposal is accepted by reaching supermajority consensus based on the entire membership i.e. 100,000 BSPT, with a supermajority threshold set at 60%. When the threshold is met, the change request is put forward.

What is the advantage of regulating voting through a smart contract?

The big advantage why it makes sense to organize a voting per smart contract is that it is tamper-proof. The individual votes cast cannot be manipulated afterwards and the result is therefore clear. This is why a smart contract is particularly suitable for safeguarding sensitive and important decisions. The result of the voting is also publicly available.

Would you like to know more about Blocksquare?

Check out the following resources for more information on Blocksquare (www.blocksquare.io):

One Page Doc → go.blocksquare.io/onepager

Whitepaper → go.blocksquare.io/whitepaper

Proof of Title Paper → go.blocksquare.io/proofoftitle

Help Documentation → go.blocksquare.io/helpdocs

Join our Telegram community

Follow our Twitter

Follow our Facebook

Follow our Medium Blog

Follow our Subreddit

Blocksquare is still searching for like-minded individuals that believe that blockchain has the power to change the rigid world of the real-estate and that find the project trustworthy and meaningful. Join our ranks as an Ambassador! Apply HERE!