Bronx : Revolutionizing real estate industry
Blockchain is fundamentally a new type of database technology that is optimized to tackle a unique set of challenges. Historically, databases have been used as central data repositories by organizations to support transaction processing and computation. However, databases are rarely shared between organizations due to a variety of technology and security concerns. Blockchain is a shared, distributed database of transactions among parties that is designed to increase transparency, security, and efficiency.
What is Bronx
Bronx is a decentralized platform created with the purpose of disrupting the real estate industry. Bronx revolutionizes property holding and transaction in a tokenised form. Bronx provides direct public access to the most current and comprehensive listing of properties for sale using Bronx tokens.
How does Bronx work?
1. The owner of a property requests to list it on the Bronx platform.
2. Legal verification is conducted by an Attorney.
3. SPV(Special Purpose Vehicle) is founded to own the property in its entirety.
4. The value of the asset for sale is Tokenised.
5. Bronx places the property for sale or rent through listing.
6. The listed asset is then purchased by an interested buyer.
7. The payment is sent to the seller.
Bronx will utilize Blockchain technology to crowdfund its operations with the Bronx token (BRN) and create both organic and external demand for BRN tokens within the Bronx business model.
Bronx Advantages and Innovation
✔ Direct payments between market participants in Bronx tokens.
✔ No guest service fees (typically, 5–15%).
✔ No host service fees (typically, 3–5%).
✔ No currency conversion charges (typically, 3%).
✔ Bronx tokens can be also used to pay for advertising services of the Bronx marketplace.
✔ Bronx tokens can be used outside of Bronx marketplace, directly by using transfer between wallets.
✔ Global community can use Bronx tokens by providing additional services and building value-add platforms.
