Topic: Property ICO - Exotic location (Read 214 times)

The biggest issue you will come up against is the banking side of things.  Getting out that much FIAT is not as easy as you would imagine and you need FIAT to buy and manage property.

sounds good, does not work
All such projects usually face such problems as impossibility to obtain REAL values -> this is scam
But, in fact, this is not the only problem

nice idea but I am a noob regarding ICOs

was this done before as ICO? just to get a picture

We all know that 95% of ICOs is a scam. All they have is an empty promise. I would like to do a real property ICO and the idea is this - it comes out of my wish I have as an individual for years. I would like to buy a nice piece of land in Bali Indonesia (can be anywhere) and I would like to setup few villas there. It would be higher standard exotic thing! Something WOW. Of course I don't have that money to finance whole project. So like companies do IPO I was thinking of doing ICO where any individual can invest and be part of the project. Unlike other ICOs who take your money and you get nothing, I would actually issue 10 mio tokens (BALI tokens) worth USD $1 each (that would bring 10 mio USD), then finance the development with that cash. Here comes the good part - somehow I would legally setup everything that each coin holder owns certain % of that property. When the project makes +, tokens go up in value. At anytime you can cash in and sell your tokens either to someone else or to "us". The point is that if you hold tokens, you are co-owner. I don't think it is impossible to do with Ethereum tokens and it could work just fine, what I don't know yet is how to assign ownership to tokens (we know that one can give tokens to someone else). I do know that you could prove ownership with signing the message from the wallet where you hold BALI tokens.

I am serious with this idea and would like to proceed. It needs a company (I have it), a website (I can do it), whitepaper (I can't do it), some supporters and to setup things legally (I need help here). This would be a nice project and if someone is interested let me know. I do have some money to finance this and I would look for a partner who can contribute knowledge, time and part of $$$ we need to start this.

Your thoughts are appreciated. PM if you would like to talk. Thank you for your time!