Faq

BrikBit Digital Shares is the first LISK blockchain-based ecosystem that develops and manages entire operations for the Real Estate industry. Within the BrikBit ecosystem all shareholders involved in Real Estate projects will be able to use the potentiality of blockchain technology to automate, disintermediate and make more transparent both typical and implicit processes during all steps of a Real Estate enterprise, such as fund collection, design, creation and management.

REDA is an acronym for Real Estate Digital Asset. It is an avatar of a building that is created through the BrikBit platform and it summarizes all necessary information of a real building: structure, design, materials, plants, services. All information will be organised through a dedicated protocol to manage each property.The protocol will determine the partitions of a building, allowing platform users to optimise the value exchange. REDA represents the interface between the blockchain platform and the real building. REDA will also be a customized token linked to a specific project, with its own property and following distinct legislation according to the country the building is meant to be built.

RE-DApps, Real Estate Decentralized Applications, are implemented dedicated applications to create REDA.
The RE-DApps represent the “core” of the BrikBit platform and guarantee the management of information involved within Real Estate processes, creating the Framework to identify the expressed value of the REDA.These Apps meet the needs to have an equal, transparent and unamendable management to exchange information and value in Real Estate projects.

It is the first BrikBit ecosystem, since it gives a chance to all Real Estate players interested to operate in a new way of doing business thanks to the blockchain. This will be a meeting point for operators, investors, professionals and brokers who want to join forces and create round-tables to start potential cooperation. It will be a pay per sign up network that will enable all members to interact with BrikBit developers team to develop and implement the BrikBit eco-system. This way, the network will match reality with actual issues present in the day-to-day Real Estate projects.

Through the ecosystem BrikBit wants to:
- solve the problem of univocity and correctness of Real Estate data
- solve the problem of illiquidity of value of RE properties
- solve the problem of fundraising and easy access to RE developments
- bring transparency to the oldest and most effective industrial sector.
This ecosystem will be the real financial Revolution of Real Estate.

1. They can provide uniqueness of data and correctness of property data currently lacking. For instance, when someone buys a new property there is an issue of guarantee that the property is constructed according to the local regulations. On BrikBit ecosystem, whoever buys a digital share of an asset, can buy something with an history and unique data recorded on a blockchain.
2. They offer the possibility to divide in digital shares a RE asset: this allows to own and sell a
small partition of a property.
3. They solve the problem of lack of funds to do RE operations. With the BrikBit ecosystem, a small - medium saver could decide to invest in a share of a Real Estate project in Tokyo and Paris, rather than in Singapore or in Dubai.
4. They solve the problem of lack of transparency. This is usually the case in transactions within Real Estate development and in managing operations during construction and life cycle of a building.

Our Team is made up of professionals, blockchain experts and architects with a long experience in Real Estate projects at international level. We decided to join forces to launch an ecosystem that will revolutionize the sector, always in need of new technologies to go beyond borders and support each player involved in an innovative way.

BrikBit ecosystem is meant to be used by anyone that wants to be involved in a Real Estate venture in a blockchain based environment. This platform and future blockchain will be setup to meet the needs of various professional players so that they can collaborate and meet in one place.

After a few successful International events and presentations, we are currently speaking to many big names within the Financial, Legal and Engineering worlds to study every aspect of the ecosystem.We will communicate every official new partnership as they become official.

We have set 3,000 ETH as softcap, which is actually the minimum to start developing the project.

We believe in Lisk technology and believe it will outride Ethereum as far as technology is concerned due to the “JavaScript” language they are using. However, Lisk is currently not so well-known and does not have the potentiality yet to be used to run an ICO. Since Ethereum is one of the main cryptocurrencies used on the market by ICOs, we had to pick a token that was well known and distributed throughout the globe. The choice to use the Lisk Platform to develop our BrikBit ecosystem comes from a necessity to find an IT solution that could meet the needs of the Real Estate Market. We believe Lisk is the answer.

Our founder Alex Dell’Orto has been invited to many conferences about Real Estate and blockchain. He presented the BrikBit project in 2016 at the 1st IBREA (International Blockchain Real Estate Association) world conference in Los Angeles and in NYC in 2017. We have been to several events in Europe (UK, Switzerland, Italy and Germany). The complete roadshow including Asia, middle East and other European countries will be available soon online
on our website.

The team is currently made up of approximately 10 people working full time on the project. In addition there are consultants and advisors working on different disciplines (Legal, IT, sales, media, engineering, Real Estate professionals).

It is clearly our aim and vision to make BrikBit the preferred ecosystem to be used by all Real Estate professionals and operators through blockchain technology. We are developing a solution that really helps solving problems in the Real Estate industry, so we believe it will be adopted both from corporations and brokers. Obviously blockchain technology and crypto in general are just at the beginning of their development and mass adoption will require time. However, we strongly believe that this will be the future, so being the first mover in this sector gives us a strong advantage. With regards to a specific timeframe, we believe it will take 6/12 months to spread BrikBit adoptions to a core base of operators and corporations. However, to answer your first question (becoming the preferred method), timeframe realistically will be years, since we intend BrikBit to become the standard of the industry in the next few years.

We really believe in the "lean" approach, so it is part of our culture to do things, make errors, learn from them and quickly move on.

Some revenues will come from the social platform: the BrikBit Professional Network. RE: this we believe it will bring potential investors and new project developments. We are ready to give professional services both for software and for engineering - construction and to make revenues on these. ICO is only the first step of a big and articulated project: our vision is to create a new ecosystem where we are an active working part.

We are a Swiss-based company and we comply with the local authority - FINMA.
Our legal advisors take care of any possible aspects to be fully compliant with regulators.

Our smart contract is set in ETH, when we structured the ICO the price of ETH in USD was different. We will continue monitoring the situation and eventually evaluate whether to make changes.

Yes, almost all ecosystem and related functionalities will be open-source with more details to be disclosed in the near future. We believe that open source means transparency and cooperation.

BrikBit has, so far, not many competitors, since most of the Real Estate blockchain projects are not intended for all Real Estate operators and owners both, but just for a certain goal, for example rental, or sell of apartments around the globe. We are working to create an Ecosystem where Real Estate Assets can be exchanged as Digital Shares.

1. Real Estate is a particular sector with specific dynamics, so the idea is to create a token that is easily identifiable with the industry. We want to be independent from other currencies in terms of image, monetary policy, price dynamics and future technological choices.
2. Each renovation or construction project will have its own REDA token because it will identify the specific building, villa or project in a specific geographic area.

Yes, we are studying with a prime international law firm the framework to link the property rights and digital shares represented by REDA Tokens. The legal framework will then be declined according to the laws of the various countries where building is located.

BrikBit does not replace certain key players such as building managers or facility companies in charge of maintaining the building. It simply creates efficiency by holding all key information of buildings and making processes managed by intermediaries more efficient. By offering more transparency to processes of a RE operation, all value of that operation can then be re-distributed within the community working on it.

Reda Tokens represent a real asset : if the building loses or gains value, so will the Reda Token.

Lisk is one of the most promising Blockchain projects for many reasons:
- Lisk is developing Side-chains with SDK, that is one of the most promising solutions for scaling blockchain.
- Lisk is a DPoS blockchain, very important to us because of the voting system. This can be useful when sharing property digital assets.
- The DPoS system has a low energy impact in comparison to the PoW system, very important when it comes down to a sidechain of a property.
- Lisk is an open source blockchain in Javascript, the most widespread and popular programming language.

It starts on 18th October 2018 at 4 PM CET and It finishes on the 30th november at 6 PM CET or whenever the hard cap is reached. The hard cap is 24,000 ETH.

During the ICO 2,000 BRIK = 1 ETH.

Currently you can join the ICO with ETH. We are considering accepting also LISK tokens.

More details will be provided soon. Please follow our media channels for details.

Unfortunately due to the uncertain regulatory landscape in the United States and China, US and Chinese citizens, residents or entities are not allowed to participate in the ICO.

Max supply of BRIK will be 100,000,000 tokens.

No: based on the legal advice we gathered from our partners at Archilex, BRIK tokens would not be considered as securities, but utility tokens.

Unsold tokens will be stored and used for testing, for future operations and for resources for the first Real Estate pilot project.

Tokens will be immediately distributed and will be transferable when ICO ends.

We are in advanced talks with some of the top exchanges for listing BRIK.