Introducing MIA
Tl;dr: SwissRealCoin is a PropTech company at heart. What’s truly revolutionary about SwissRealCoin is the concept of automating asset management on the blockchain by digitising property data and generating quality insights. The first demo version of MIA is here and it’s time for you to get involved! You can access the demo version here and share your ideas, provide your valuable feedback, request features or report bugs here.
Read on if you’d like to learn more — let us introduce MIA properly to you
MIA is a real estate management software where SwissRealCoin (SRC) token holders, research & development, and real estate experts can work closely together and get 24/7 access to the inner value of SRC — the real estate portfolio. It provides users with high-level voting rights and the possibility to monitor all real estate properties in the token’s portfolio. SRC token holders will be able to interact with tokenized individual real estate properties and essentially manage activities in a ‘decentralized’ way.
By analysing, visualising and browsing data details effortlessly the MIA dashboard allows for an ongoing and consistent re- and overview of commercial real estate operations. Voting rights are, for example, given on whether a real estate acquisition should be approved or rejected/terminated introducing an aspect of democratization to active real estate management.
What makes MIA so revolutionary?
MIA is automating real estate asset management on the blockchain. One of the interesting challenges about the SwissRealCoin project is the creation of a real world use-case for the blockchain technology. In short: We are developing a decentralized application to manage real estate properties. Each building we operate gets a Smart Contract coupled to its ID and the respective data trail. From a technical perspective the undertaking is exciting because we operate with real world assets. And from our point of view real world applications of the blockchain technology are as a revolutionary as Internet applications in the late 90s.
* (If you’re interested in hearing more about that, you should meet our CTO, Yauhen Yakimovich for coffee! You can reach him at @yyakimovich on Telegram.)
Why does MIA work best as a DApp?
Decentralized applications (DApp) can run on your computer and communicate to its other instances similar to a peer-2-peer network. Instead of sending messages over the internet DApp shares an immutable state which is fully verifiable by every transaction block in a sense that there is an easy process how to verify and agree on what is written in series of transactions over time. This process is called ‘consensys’ i.e. according to which everyone can agree that what is written into the blockchain is valid. This allows to generate trust for parties without establishing individual links.
As a DApp MIA helps to simplify blockchain interactions to manage or invest into real estate. Part of our research & development process is a logical framework called Consensys-of-Management that allows to agree with an AI’s recommendation on how to maintain and grow the value of particular buildings. Currently, efficient management is based on human expertise and can be improved by data-driven insights. Nonetheless this still requires a significant amount of trust to the intermediary. We are working on something that would be unthinkable or impractical without blockchain consensys between multiple stakeholders including AI.
“SwissRealCoin revolves around the idea of blockchain which is currently transforming the Internet space. It gradually replaces intermediaries and giant relics of (the asset management) business as we know it by empowering communities and reinforcing self-organisation by the rules of the new kind of economy.”
— CTO Yauhen Yakimovich
But… What do we need the Blockchain for? Couldn’t MIA just be a regular PropTech Software?
There are various reasons and use-cases for the blockchain. Many of which will become more eminent in future versions of MIA. Maintenance costs / capex as well as vacancy costs can be the largest expenses in the business plan of real estate. The blockchain allows a reduction of costly management in the context of asymmetric information. Transparency and data availability can be massively improved by the use of blockchain, in particular when it comes to transactions/transfers of the properties themselves. The same goes for data integrity, as the data trail — once published on the public root chain — remains immutable.
You like what you read? We’d love to get your feedback and inputs! You can access the demo version here and use this form to share feedback and ideas or report bugs.
