LayerX joins the Cryptorealty project
As presented in the August 30th 2018 PR, LayerX Inc. (noted as LayerX) and tsukuruba Inc. (noted as tsukuruba) will be partners in the Singapore-based Property Access Asset Pte. Ltd. (noted as PAA)’s blockchain-technology driven Cryptorealty project, which will focus on Southeast Asia.
In this article, we will explain more on the “Cryptorealty” project, as well as the project’s background and motive of this joint partnership.
Table of Contents
- Background of the project
- What is Cryptorealty
- Expectations of the project
- In conclusion: We’re hiring!
Background of the project
As presented in the in the PR, the Gunosy blockchain group (what would later become LayerX) and tsukuruba has been exploring the potential of blockchain technologies in the realm of real estate market since May 2018.
From this R&D phase, we explored cases of blockchain technologies in the realm of real estate market around the world, analyzed obstacles real estate firms are facing, and from this analysis discussed how blockchain could be its solution.
There has been surging interest globally where blockchain has been utilized in the realm of real estate market, where new services like international real estate platforms, management of property information and the like have spurred unique projects.
LayerX has been considering utilizing blockchain technologies to create new digital assets called “tokens” to solve obstacles in the realm of real estate market.
Based on the research and dialogue with tsukuruba, PAA proposed a new commercial space and service with a potential for a democratized marketplace, which became “Crypotorealty”. We then joined Crypotorealty as a partner to continue exploring the opportunities of this service. We plan to test this project’s potential in Southeast Asia.
Blockchain technology is often described as the technology to potentially disrupt existing markets, however rather than disrupting, we aim to create new market opportunities instead.
What is Cryptorealty
The current market is stumped with the dilemma of “commercial spaces concentrating on consumer demands” and “the failure of developers meeting said demands.”
We identify that this problem lies with the status quo: the current practice of project management.
To explain, majority of the commercial spaces and services are managed by large-scale developers and operators.
While they meet some demands of the consumers, the widening gap between developers and consumers is amplified by the developers’ inability to grasp the true demands of the consumers, and thus creating a one-sided service.
Yet, there are developers who fully understand these demands and have created services that meet them.
While their scale is miniscule in comparison, their understanding of the consumer have many followers and thus have created successful businesses.
But despite their success and growing loyal fans, they’re unable to compete against the large-scale developers and management companies, and are struggling to expand.
To combat this situation, we examined the possibility of utilizing blockchain technologies to create a new commercial space and services, and to promote its democratized marketplace.
Thus began the first step of the Crypotrealty project.
At Cryptrealty, we aim to create a new commercial space and services and to promote a democratized marketplace.
In this marketplace, the operators of the commercial space and services, the supporters of these projects, and its users can purchase, sell and rent the usage rights of the space and services.
Expectations of the project
The LayerX team (formerly Gunosy blockchain team) launched in the fall of 2017, and since then have focused on blockchain R&D.
The R&D team has been focusing on Bitcoin, the origin of blockchain technology, and the Ethereum protocol layer, the platform specifically built for smart contracts with a broader processing capability.
In addition to the blockchain technology R&D, we have been looking into the potential of digital assets called “tokens,” and the mechanisms of its financial incentives.
“Cryptorealty” kicked off from the LayerX team, formerly Gunosy blockchain team, and will be LayerX’s first blockchain project.
While blockchain technology have huge potential, headaches such as scaling, security, privacy and user experience still remains.
We strive to counter these issues head on and hope to push the potential of blockchain technology through Crypotorealty.
In conclusion: We’re hiring!
We’re currently seeking for ambitious individuals who want to challenge themselves in the complex and constantly transforming world of blockchain technologies. If interested, check out the links below for details.
Developer: https://www.wantedly.com/projects/175017
BizDev: https://www.wantedly.com/projects/225562
Meet us on
- Web: https://cryptorealtyproject.io/
- Telegram: https://t.me/CryptorealtyOfficial
- Twitter: https://twitter.com/Cryptorealtyprj
- Facebook: https://www.facebook.com/Cryptorealtyproject/
- Email: contact@cryptorealtyproject.io
