March Livestream Recap with Ricky Ng, i-House Chairman & Founder
On March 3rd, i-House founder and chairman Ricky Ng had a “one on one” live stream to discuss i-House future plans and development ideas in 2019. i-House released IHT in early 2018, which is also the most turbulent year for the cryptocurrency markets.
In 2018, although it started in a bear market, i-House did a lot of things. They set up many offices around the world, including China, South Korea, Singapore, the United States, Europe, and Canada. These offices will help promote i-House worldwide. The following is some key points during the live stream session in case you missed out.
Expand Scale of Cryptocurrency Exchange
We made a huge decision of launching a cryptocurrency exchange last year and spent a lot of time doing research on it. The idea of developing a cryptocurrency exchange is that if we don’t have a trading platform, it is more difficult to have transactions on the assets and the real estate on a large scale.
We were looking for many partners and finally reached out to Bittrex. After half a year of preparation, we officially launched our Bitsdaq exchange on January 29th, 2019. We hope that this exchange can drive future real estate and STO transactions. When the exchange is ready for the secondary market, we will start to promote our ATO and STO.
What’s our future development in 2019 and whether or not we will re-start the progress of ATO and STO?
In the second half of 2018, the market environment was not very good. Therefore, We focused on developing the product first, and then we will promote our products when the market picks up. In the past six months, we have basically put the entire layout of the exchange into place. In 2019, the first thing is to promote and grow our entire exchange and trading platform.
About ATO & STO Operation
The concept of ATO is to turn the property right into a token to be able to split ownership. We slightly optimized the ATO model to work with STO and the cryptocurrency exchange. Firstly, using STO is to make their assets similar to securitization, so that it can be regulated and sold to compliant investors. Secondly, if they want to list ATO, they can do it on our exchange. Currently, we have about 200,000 registered users on our exchange, they could issue their own ATO in the most efficient way.
The third thing is compliance, we work with strong and compliant license exchange which has been helpful in allowing use to quickly apply for licenses in Hong Kong, Singapore, and other regions to operate. If we have the licenses for STO, we can push our exchanges locally. It is constantly being promoted in the real estate industry, and STO and ATO will become a form of helping companies to fundraise.
i-House Future Plan in 2019
1. Set up the trading platform via the exchange’s secondary market and future platform such as ATO and STO for providing better service to real estate providers.
2. Cooperate with different wallets and payments channels. By doing this, we hope to speed up paying accommodation services payment through using IHT.
3. Speed up compliance, including the planning of compliance in Hong Kong, and the United States & Malta and Bittrex licenses support.