Why does ELAD NEtwork use cryptocurrency
ELAD Network uses cryptocurrency to give a faster more reliable transaction, this creates a secure asset that you can control.
Main benefits of crypto with fractional ownership on the ELAD platform.
1. Control of your asset- this allow you to sell your asset (piece of property) at any time in a secondary market without affecting other investors. Once you sell your piece it will automatically update payment options on rent, sending new payments to the new owner.
2. Have your say- ELAD tokens give you the opportunity to vote on any decisions that are proposed for the property you’ve invested in. For example, sell property on the open market before original proposed date or keep property longer than proposed date, change management company, upgrade or convert property etc.
3. Bring down barriers- A property can be divided into 1000’s of pieces using tokenization, our Auction system keeps an entry level of $50 for a limited number of people the rest will be distributed in higher tiers, this allows everyday people to invest and learn about a property portfolio.
4. Fixed value- A calculation will be made on the current value of the property, this will be programmed into your received token from your purchase, so once the property is sold on the open market you receive a percentage of the sale including any appreciation made on the property. This protects you from any wild swings in the crypto currency market and gives each property an individual current calculation.
5. Cross borders- Creates a global network that can buy and sell property in any country, without the friction of having local bank account or paying charges in foreign exchange of currency, the process is completed instantly cutting down the days needed to complete the transaction. Received payments can be accessed globally and be changed instantly at very low cost in the desired fiat currency.
6. Programable money- The wide spread adoption is being supported by big players and governments, at digital street we are working on future real estate digital transactions, it has become evident that the land registry are willing to accept fractional ownership and digital sales, Crypto currency has a feature called smart contracts which creates safe guards, refunds, Automatic payments, legal agreements, trust less transactions and many more features. This cannot be done with fiat.
7. Money trail- Crypto can be tracked through blockchain transaction and the history can be audited. You can also trace your own transaction simply online.
8. Privacy- Crypto is cryptography protected, everyone can see transaction, but no one can see personal information and actions are prompted by a private key that you possess this increase’s security layers, speed and transparency.
9. Incentive for blockchain- The blockchain is a distributed data base, using crypto currency on a blockchain gives an incentive to host and run the blockchain by anyone who has a computer, by giving hosts micro payments from the transactions, this increase’s the hash power which is the power behind blockchains and also powers each transaction and stamp (block) on the blockchain, giving global security by the blockchain running and being verified internationally.
10. Future concepts- everyone now uses online banking, Apps, tap and pay instead of chip and pin and various other forms of cashless transactions. By using crypto early in our business model keeps us forward thinking as there are many cryptos that are backed by fiat and pegged on a 1 to 1 ratio, and the future could even see a government crypto currency released. Having the structure in place to facilitate these transactions will determine which company’s advance in society and which fall behind with the times.