Castles in the Sky and the Trouble with Distressed Assets
Having and keeping a roof over your head remains one of the primary drivers for most of mankind’s venture. However, raising those structures has always been easier said than done. From pinnacles jousting the heavens to underwater marvels crowning mankind’s ingenuity, there is no shortage of ideas, horizons or barriers mankind’s architectural prowess is yet to transcend. But what happens when there is a shift in economic status? Civil unrest, or even a global crisis? In the wake of such events there would be a trail of distressed assets, leased or selling for less than half the values that got them standing. This was what happened during the global financial meltdown of 2008, when most of the world just couldn’t afford to pay the mortgages for all the roofs they had elected to place over their heads. This disaster is now the catalyst behind Elements Estates’ comeback story accelerating the rejuvenation of the real estate industry.
Created to enable the general public tapping into an exciting and lucrative market that has become the purview of an elite few, Elements Estates is bringing transparency, accessibility and security through blockchain technology.
The platform’s groundbreaking development will now make it possible for anybody to vote for their favourite properties, which Elements Estates will then acquire, followed by a purchase of vast array of properties in the South-Eastern European region (SEE) at knocked-off prices. These knocked-off prices are possible throughout the use of distressed assets, so every ELES token holder can, and will, be indirectly involved in distressed deals.
Based on their profile — commercial, residential, or tourism — properties can then be renovated and either, sold or rented at profit by a team that was responsible for some of the most distinguished real estate property acquisitions in Europe. With decades of experience in the same field, Elements Estates is well versed in distressed assets acquisition and tapping the blockchain space to transform how people buy and own real estate.
What has the blockchain got to offer?
The confidence and guarantee emanating from any technology offering permanence of data without any centralized control is enough to turn heads, but when this same technology cuts across all geopolitical barriers and is transparent, it’s time to hitch a ride into the future.
Transparency is a driving force behind any globally inclusive investment tool. By seamlessly running smart contracts for immutable fund transfers within the buying, selling and leasing of properties, Elements Estates has developed an ecosystem that does not require building trust through fallible, human agencies. The platform will serve as middle point where real estate meets the core pillar of the Fourth Industrial Revolution — the blockchain.
For many it remains a passing imagination to own a dream house or be part of one of the most stable and successful industries — the real estate industry. Elements Estates brings that dream to reality by giving a decentralized audience the opportunity to get involved in real estate. For the first time people from every step of the ladder are directly linked to portfolios of distressed assets, which can be voted on and thereafter acquired and finalized by Elements Estates. This is all powered by an innovative utility token, the ELES token. Token holders can now easily rent or buy real estate assets across the SEE region without having to worry about currency conversion. Designed and developed with the utmost liquidity in mind, ELES will be paired with third-party payment gateways to further facilitate ease of access.