Tokenisation…. that’s THE word of the hour. There is an infinite number of new projects that aim to improve or change the way costumers do all things, removing pain points and improving experiences.
We had the pleasure of speaking with Sean Qian, co-founder and COO of Konkrete, an incredible company that is going to change the way people invest or buy property by building a platform powered by blockchain.
“Konkrete is a blockchain enabled fractional property marketplace that will be able to help anyone crowdfund their home deposits or release equity from their existing property”
1. Tell us a little about Konkrete?
Konkrete is a blockchain enabled fractional property marketplace that will be able to help anyone crowdfund their home deposits or release equity from their existing property without taking on additional debt via loans. We are democratising access to property ownership and investments for all Australians.
The underlying technology which will enable this is the Konkrete Distributed Registry which will be a KYC/AML/CTF compliant registry. The registry will also form the peer-to-peer secondary market, facilitate transactions for listings and the recording of votes on the platform.
2. Where did the idea come from?
Konkrete is a joint venture between Estate Baron and Collective Campus. Moresh Kokane, the founder of Estate Baron, has spent the last 4 years building a successful property development crowdfunding platform which has facilitated more than $40M worth of development funding. Sean Qian is the co-founder and COO of Collective Campus, a corporate accelerator which recently ran Australia’s first PropTech Accelerator program with Charter Hall. Through his work at Estate Baron, Moresh has long thought about the implications and opportunities with blockchain on the real estate industry. By combining Estate Baron’s domain expertise around property fundraising, with Collective Campus’ strengths in operations and startup acceleration, we believe Konkrete will have a significant part to play in the real estate sector of Australia and the world.
3. Why blockchain?
We’re utilising blockchain for the following benefits: Distributed Governance – transparency and immutability of votes; Investor Reach – where issuers on the platform can reach a much wider distribution of potential investors; and Liquidity – Tokens can be easily traded making them very liquid and more attractive to a wider base of investors.
4. Why are you starting with Australia?
We’re starting in Australia because we’re Aussies and want to build a solution for a market we deeply understand. Talk to any average Australian and property will come up in conversation one way or another. Another reason we’re initially starting in Australia (we do have plans to scale internationally) is because we have a deep understanding of the legal frameworks required to execute Konkrete’s vision.
5. Tell us about your token and your next key milestones?
The Konkrete utility token (KKT) will power the Konkrete Distributed Registry. It will facilitate the transfer of compliant securities over the blockchain, be used to pay transaction costs and listing fees, record votes in a distributed and transparent manner and keep track of the exchange of units on the registry. The tokens will be subject to a burn schedule initially as outlined in the whitepaper. Our next milestone following the raise will be to build the blockchain MVP solution within 6 months.
6. Any other projects you are watching using blockchain technology?
7. Where do you see blockchain technology evolving over the next few years?
We think tokenized securities will be the next big thing in Blockchain and financial systems overall.