Etherty, the Blockchain Based Real Estate Platform, Announces Partnership With Enva to Access More than $180 Million in Assets
Next-Generation of Real Estate Transactions on the Blockchain Etherty Offers Unprecedented Transactability, Liquidity, and Ease of Use
DUBAI, UAE / ACCESSWIRE / February 20, 2018 / Designed to provide seamless international property trading without the need to get involved in local bureaucracy and processes, all at the press of a button. Etherty will remove the tedious barriers that are normally involved in purchasing and selling property internationally such as, finding a trustworthy realtor, sales listings, advertising and promotions, remote property viewings, values and inspections, lawyers, government verifications etc. removing barriers for every level of investor both locally and abroad.
"I'm very excited about this partnership. As blockchain matures it's vital that new players have the capacity and talent to deliver on the promise of a new path for financial markets. Australia is one of the fastest growing first world economies with sophisticated and well-regulated property and financial markets. Our partnership with Enva provides us with critical knowledge of this market's regulations and ready access to $180 million+USD worth of high-quality off-market transactions. These are exactly the type of deals we envisioned to make accessible for our users with ETY. This is one big step towards gaining our first revenue stream possibly before launch which is extremely rare in the start-up space." - Murtaza Khan Etherty CEO
Real estate investors can begin to invest in the platform's property portfolio with an investment that starts with a minimum of USD $1,000. By keeping the bid in escrow, the platform will then facilitate the sale of the property to multiple shareholders, creating the right legal structure, using the smart contracts of the blockchain engine. Custom tokens are also created for each project, to prevent a dilution of investment by any one party or individual. This means that a user who has invested in a successful project in Thailand with a 10% return will not be penalized because of the poor returns of another project elsewhere. The web portal will also allow users to rent properties on short or long-term leases. The rental property will be managed by Etherty directly or in agreement with local affiliates. Rental income will then be distributed automatically using the smart rental contracts generated by the platform. The Etherty platform works in between these communications to lock tokens upon an offer, transfer funds, update the ownership and smart contract ledger, and transfer tokens and funds to the right parties.
"We're pleased to assist the Etherty team in both uncovering quality assets and providing guidance in working within the Australian regulatory environment. The conversations we have had with the Australian Securities and Investments Commission (ASIC) Innovation Hub have shown us that the regulator is very keen to provide innovators with support and guidance. Frankly, we were surprised by their level of interest and willingness to engage in dialogue. The introduction of a globally distributed ledger and the Etherty platform rivals the introduction of the Torrens title system in 1858. This system was devised in South Australia and now used the world over in nations including New Zealand, Canada, Israel, Singapore, the USA, and Russia to name a few. A new distributed global ledger of property deeds that allows even the smallest investor to directly access the largest property assets and the poorest nation to give its citizens certainty of property rights is a technology we are proud to support." – Enva Managing Director Michael Baragwanath
Whether the intention is to raise money for the development of a property or execute a simple purchase or sale – all needs can be catered for on the Etherty platform. The integration with Ethereum smart contracts and property registrations on the blockchain provides a quick, transparent and secure method to complete these transactions. Etherty is currently in the Pre-ICO stage of their Initial Coin Offering.
About Etherty
Etherty is a blockchain based platform for the buying, selling and trading of properties around the globe. The process to purchase international real estate can be complex and tedious, the Etherty platform makes that process simple and transparent. Etherty also democratizes the real estate buying process by allowing the tokenization of assets to be purchased on the platform with as little as $USD 1000. Like other digital currencies, it offers all the advantages of non-centralized blockchain networking, such as privacy, security, and immediate value transfer from peer to peer. For more information visit www.etherty.com.
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SOURCE: Etherty
