Bloquid allows property owners to turn over their value, in the new form of digital guarantees secured by real estate, without paying the interest rates for using money by tokenization of the real estate through reverse mortgage into the stable crypto asset – Mortgage Unit [MU].
The system for issuance of mortgage units [MU] is governed by the legal collective agreement (IPDAO), based on international intellectual property law.
The system have two tokens:
Bloquid project tokens [BQT] - represents a share of collectively created intellectual property and gives a right to use the system for real estate tokenization, and voting;
Mortgage units [MU] - new form of digital warranty, secured by the mortgage of real estate.
Each MU token certifies an equal scope of the claim rights for the entire mortgage fund formed out of real estate provided by the owners as a collateral of the return of the tokens. Blockchain technology allows you to check each property value, location, assignment. The emission rate of the token will be linked to the price index of real estate.
We have passed a proof-of-concept stage and carried out the world's first test issue of [MU] tokens, secured by a real mortgage claim.
We have put an emphasis on elaboration and legal ground of tokens issuance and circulation terms to address possible risks that emerge due to the latest development of ICO and cryptocurrency regulation.
Draft documents that will regulate the project implementation and issue of mortgage tokens are already worked out and adapted to Russian legislation and now are under adaptation to international application.
Token MU is not tied to particular real estate unit but certifies an equal scope of claims on real estate in the mortgage fund, that increases its liquidity.
Token MU is a stable cryptoasset. Owners of mortgaged property have a contractual obligation to repurchase received tokens: it creates the required level of support for the market rate of the token. Issuance of tokens for new customers creates the level of resistance, restraining the unjustified growth of market value.
Blockchain makes it possible at any moment to check the data about mortgaged real estate and real collateral for mortgage tokens.
We have put an emphasis on legal ground and justification of issuance and circulation terms of tokens to address possible risks that emerge due to the latest ICO and cryptocurrency regulation.
The amount of MU tokens that a property owner can receive in exchange of mortgage is determined by a formula, which basic parameters are regulated by the collective agreement by e-voting of the BQT tokens holders.
All the mentioned above will serve to lower risks and obtain a programmable stable digital asset that combines three major advantages: