I am very interested in this Fieldcoin project because it is interesting and we rarely encounter projects that have a concept similar to Fieldcoin, using the theme of buying and selling land using blockchain technology. good luck and hopefully a place for entrepreneurs and investors to invest.
Thanks Lamponk. In fact you are right. And Blockchain technology is very adaptable to land transactions and management. The Beta platform is in construction. We are confident that by the beginning of 2019 we may display already offers and eventually already start transactions.
dealing with real-estate properties is bit complex. still, there will be physical presence during negotiations. how about the legal papers? it's not possible to transfer it thru blockchain. we are still in the traditional method in this aspect. also, you need to follow the laws and regulations of that place towards land ownership. there is more than meets the eye here. just saying...
Hi CaVO32
We are using the current legal framework combined with the blockchain technology to enable faster and cheaper transactions. There are 2 levels of ownership: “Offchain”, to comply with national regulations and “Onchain”, recorded and transactable on the blockchain.
Offchain, Fieldcoin Ltd or a third party company DAO (decentralized autonomous organization) owns the property titles recorded in the national land registry. The token holder owns a share of the company representing the specific land acquired on the platform.
Onchain, we create a unique token with a unique number representing a specific property called LANDS (ERC721). The LANDS token represents the ownership of the property and can be exchanged on the Fieldcoin platform using the Blockchain.
The LANDS token also gives the owner access to the Fieldcoin services for the particular land property. From the moment the LANDS token is acquired, the buyer becomes the owner of the land parcel and can claim the property title at any time.
The first level (Offchain) is used to comply with the current regulations and land registries. The second level (Onchain) is used to make land ownership accessible to everyone and to make the transactions fast, traceable, secure (publicly recorded on the Blockchain), less expensive and allows access to Fieldcoin’s services.