Globalization has taken the world by storm, and it continues to move at an unprecedented pace. Investors from all over the world are now capable of easily reaching all kinds of investment vehicles, which is especially true when it comes to real estate. In fact, this industry has grown to become one of the most robust options.
The residential sector has been especially revolutionized, as it allows investors to earn massive yields in the form of income-generating, and capital appreciation. However, they still have an issue with it, as it is all too easy to make a bad decision when it comes to international real estate.
The problem lies in the lack of reliable channels through which investors could seek out validated projects, developers, and even transactions. Meanwhile, developers themselves require a better way of reaching credible investors. This is something that projects such as AQwire aim to change.
AQwire is a project by Qwikwire, and it represents a global property marketplace powered by blockchain technology and smart contracts. Simply put, the project uses blockchain technology for processing international real estate transactions. The platform itself was designed to remove some rather large roadblocks that investors often encounter during international real estate purchases.
Some of these barriers include the presence of numerous third parties that act as intermediaries. There is also a need to discuss their projects with multiple brokers, as well as numerous associated costs that happen to emerge along the way. These, and similar barriers often make the process much more costly, much lengthier, and generally speaking — a lot more complex than it needs to be. Luckily, AQwire can remove them.
Through the use of blockchain, AQwire accelerates the entire process, and brings down the cost of doing it significantly. Not only that, but the platform also allows both developers, and brokers to list all their units on many different listing sites without having to update the sale status on each website separately.
With AQwire, the relevant parties are better connected, and it is easy for them to find one another. Meanwhile, the cost is reduced, the process becomes faster and easier, and transparency follows every step of the way.
AQwire ICO details
Naturally, to keep its platform going, AQwire required its own token, so it created QEY. QEY is a utility token that was created on Ethereum's platform. It already held its ICO, as well as its preICO, back in the first half of 2018. While this was only the starting period for the crypto winter that followed, it was still not the best time to hold an ICO, but AQwire did it anyway.
Its preICO took place from February 26th, 2018, to March 26th. After that, the ICO itself took place from March 26th to April 26th. The token's price was $0.15 per 1 QEY, with the minimum investment of 1 ETH. ETH was the only token that the project accepted, and it required users to go through KYC and Whitelist procedures in order to be granted the ability to participate.
The project was registered in the Philippines, and it had four restricted areas — China, the US, South Korea, and Singapore. Everyone else was welcome to join.
|Start||July 1, 2019|
|End||September 30, 2019|
|36 days left|
AQwire appears to be fine from the standpoint of blockchain usage, though I would really like to have a trial run of their applications first. However, my issue is not with the app but with one particular aspect of their future operations, which is the developer verification, especially if they aim for a global scale. Here in the West, everything is mostly fine with confirming the legal background of a developer. But I am all too familiar with the situation in places like Eastern Europe, where the semi-legal development industry has been booming for decades. AQwire will definitely have problems within that area.
To summarize, AQwire streamlines the listing of business property units across multiple platforms with the aid of the blockchain technology. So, while this offer is probably not relevant to the majority of individual investors, it will most certainly catch fancy of those who understand how frustrating a process it is to find a decent co-working space, or any other business property for that matter, in cities across the United States. Therefore, AQwire will surely occupy the corresponding niche and form the needed pool of users. Moreover, the startup has a good back-end solution, which instills even more confidence in their overall success
I don’t take any issues with AQwire except the instance where they try to convince the reader that the application of blockchain will ensure the authenticity of all parties involved. Well, perhaps their solution does provide for such authenticity measures, but they should have been so kind as to provide an explanation, because everyone who has some insight into this technology knowns that blockchain itself can’t do such a thing. But what they got right is that blockchain protects against double spending - in case of AQwire, it is double booking. Other than that, I find this project seems to be well-elaborated and useful.
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