Utilities of QEY: What You Need to Know
The Real Estate industry is one of the many industries that can truly harness the benefits of Blockchain Technology. Early adopters have found that blockchain, indeed, helps with streamlining many of the processes involved in selling and acquiring properties, especially in cross-border transactions.
This observation led many aspiring entrepreneurs to dive into the technology and start real estate related blockchain projects. Eventually, access to funds has become easier through projects that fractionally tokenize illiquid assets. While Pros like liquidity and access to immediate funds may seem very attractive, Cons like policies and regulations regarding property sales might hinder these types of projects.
This led to people being more pessimistic and wary about real estate blockchain projects, adding another barrier of entry for the technology to be adapted, used and more importantly, change the way we do real estate.
What makes QEY different?
Unlike most real estate blockchain projects, AQWIRE does not offer fractional tokenization of real estate properties, be it private nor corporate assets. We believe that there are inherent dangers in openly trading illiquid assets.
What we did instead, is that we made it a mission to embed several utilities in QEY tokens that can help reduce, if not totally remove, difficulties present in buying and selling cross-border properties.
By the time the AQWIRE platform goes live, some of these utilities can be used on the platform. And as we grow our network and expand across different countries, more utilities will be added to give even more value to the token. This plan perfectly fits the overall goal of the team — to make real estate processes faster, more efficient and save everybody involved more time and money.
“AQWIRE will be able to help them (developers) sell these units to international buyers. The market for international real estate last year was nearly 400B USD. It’s an exciting space to be in and we’re fortunate to be working with them to bring this vision to fruition.”
Ray Refundo, CEO
Immediate and Future Utilities of QEY
Since the very beginning of this project, we already made it our goal to release the AQWIRE platform alongside with useable, functioning tokens. We want our token holders to have an immediate use for their QEY tokens shortly after the crowdsale. This is because we value their trust in the project and we wish to reward them with the option to use QEY the way they are meant to be used.
Here’s a list of QEY’s immediate utilities:
- Listing Property Units— This feature will serve as a jumpstart for the AQWIRE platform. Property Developers can use their QEY tokens to list units as early as the MVP stage. This means that their listings will already be visible to the global market even before the AQWIRE platform is officially launched. This gives them the opportunity to test how much AQWIRE can contribute to driving leads and eventually, sales. This is especially helpful for small to medium developers who can’t advertise their units to listing sites that have a global reach and for those who are actively targetting international property investors and buyers.
- Discount Visibility — Using tokens to avail discounts is one of the major usages of QEY. We make this apparent by initially revealing markdowns on unit prices listed on the site. Once the completed platform goes live, holders can start using QEY tokens to cut the price from their purchases. This will be possible due to the deals and partnerships we have made with our client partners.
- Waving of Transaction Fees — The beauty about AQWIRE is that though it is a marketplace like Zillow in the US or Juwai of China, it definitely is more than that. As Qwikwire’s biggest project to date, AQWIRE will have access to the formers banking network. People on the platform will already have the option to pay for their real estate related payments like reservation fees or monthly amortizations using conventional means (credit/debit cards, ACH) as well as cryptocurrencies (Bitcoin, Ethereum, Litecoin, and Ripple). This integration will make it easier and more convenient for potential unit buyers to transact internationally and pay for their dues using multiple different payment methods.
As part of the on-going discussions regarding the platform, we are, of course, open to adding more utility to the token that will bring more value to all parties in our ecosystem. Take a look at some of the possible QEY utilities in the future,
Here’s a list of Future QEY Utilities:
- Virtual Reality Tour — Through partnerships with AR/VR companies, we are planning to implement a VR tour of the units for potential buyers to help them more with the decision making. This will especially be helpful since the majority of the initial units that will be listed on the platform are on ‘Pre-selling’ stages and have yet to be built. We want the buying experience to be as seamless, informative and easy for the party involved.
- Automated Market Reports — Staying true to our advocacy of making international real estate easier, as one of the future utilities of our token, QEY’s will unlock access to market reports for buyers. This means that potential buyers who use the token on the platform will also have access to analytics reports that will show them various data and help with the buying process. Reports like Traffic within the properties’ vicinity, Crime Rate, Number of schools nearby, number of parks nearby, Rate of ROI per location and many more.
- Specialized Services — We understand that aside from dealing with multiple brokers and agents when trying to invest in an international real estate property, you will also have to deal with several other key personnel. That said, QEY tokens can then be used to access certain specialized services like Legal matters and inquiries and document translations. Thus, further bringing more usage of the token in the ecosystem and bridging more gap on an international real estate purchase.
The platform is constantly evolving and new ideas are welcomed everyday. More token utilities will definitely be implemented on the platform to achieve our overall goal of a smoother, safe, and cheaper international property buying and selling experience.
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