Dear Konkrete shareholders,
After months of research, building, testing and scrapping our assumptions; and building from scratch again, we have some exciting news to share with you all.
As you know, Konkrete started life as a securities tokenisation platform, which started life as Estate Baron, a real estate equity crowdfunding platform.
Whilst we have been leaders in the space, having compliantly tokenised millions of dollars worth of projects, we have come to the conclusion that security/real estate tokenisation is ultimately not a “thing” — not at least the way it is being thought of in the market today.
You can read more about our thought process here.
The killer app of blockchain is Fundraising. This lead to the ICO boom, which is now well and truly dead due to all the scams and lack of regulation in the space.
STOs were an attempt to bring more regulatory balance to the wild west of ICOs, but too much regulation also kills the use case of blockchain, as it is fundamentally opposed to the non custodial borderless nature of blockchain.
What is needed is a fundraising mechanism in which controlled, predefined and programmable outcomes can be provided with enough checks and balances that prevent scams, yet do not get in the way of a venture from raising capital in a global manner.
Additionally, to fully tap the potential of blockchain, it only makes sense to tokenise non-custodial assets which do not rely on centralised registry (which real estate ownership relies on). You can read more of our thoughts on this topic here and here.
To that end, Konkrete is now an Asset Tokenisation Platform (not just a Securities Tokenisation Platform), and we’re proud to announce the first product built on Konkrete which satisfies all of our criteria above — Factorium.
Factorium is an invoice factoring marketplace which allows invoice buyers (financiers) to purchase a businesses’ invoice at a discount. Once the invoice is paid, the financier makes a margin on the discount.
You can read more about why we’re building Factorium here.
As valued stakeholders and community members to our project, we are inviting you to gain beta access to Factorium before it goes live. In return for your feedback, recommendations and bug testing, we will be offering beta testers exclusive 100% underwritten invoices for purchase with up to 500% annualised returns and payouts as short as a week.
To participate in the beta, please fill out this application form here.
We are still committed to real estate registry business, and will continue to take on whitelabel clients and work towards building new features for the registry, however in the meantime we are going down the path of creating quicker value for our customers and traction for our stakeholders.
We look forward to bringing you more updates and developments soon!
