Real estate abroad is of interest to everyone with an average income level. Investments of this level have always been profitable. But the obstacle in acquiring such assets is the need to involve a multitude of third-party organizations, which increases the price of the deal at least twice. Decentralized AQWIRE ecosystem with its own cross-border platform for international transactions with real estate helps to solve this issue. AQWIRE platform is designed to join all existing players on the real estate market within a single space - brokers, agents, lawyers, etc. The use of blockchain technology positively affects international real estate transactions - a transaction record cannot be changed after publication, which ensures transparency and fairness of a transaction. The artificial Intelligence of AQWIRE ensures that all transactions are verified and report data is synchronized. In addition to a single distributed book, the blockchain allows using smart contracts that can act autonomously for complex transactions. This eliminates dependence on the central platform system when conducting transactions. This structure is of particular value when working with escrow transactions, which often occur in real estate deals.
https://www.aqwire.io
Key Features of AQWIRE
The first transactional interaction that an international buyer will make is booking and reserving a unit. Since real estate developers and brokers use several sites to sell the same objects, double booking has become a common problem that reduces sales, creates confusion and makes asset management more difficult. AQWIRE introduces a smart contract booking system that provides an updated inventory and redundancy of units in real time. Standard real estate transactions usually require companies to use escrow for the storage of funds.
Simultaneously, a lengthy process of checking documents is carried out to ensure that all documents are in order and the object is not in pledge, is not involved in the inheritance procedure, etc. International escrow services are extremely expensive, as they are mainly used for export and import. AQWIRE uses smart contracts to facilitate the deposit procedure. MVP for AQWIRE escrow system will not be fully automated with the help of a smart contract, it will still require a third party to thoroughly check the documents.
Advantages of AQWIRE
Confidential information will only exist in a separate repository using such technologies as IPFS or SWARM. A customer information used for KYC and the legal data for the object will be verified and encrypted using cryptography. In the future, a user will be able to use this cryptographic key to sign transactions. Therefore, a user can verify the validity of the data without compromising confidential information.
AQWIRE platform will be developed in two stages. At the first stage, a hybrid DApp (decentralized application) will be launched, which will interact with the Ethereum blockchain using QEY token. Functions such as a detailed regional report on the profitability of real estate, real-time data acquisition, real estate transactions at the partnership level, are available on AQWIRE to the token holders. The second stage will involve launching AQWIRE blockchain platform. The network will consist of partners (developers and listing sites), who will join at the first stage. The platform strategy is to use the first stage to define the requirements and specifications of DApp software before starting the blockchain system for more efficient work in the future.
The team is currently developing an API for Enterprise Software (ERP) - standard protocol for real estate management of AQWIRE platform. This will allow updating real-time data for inventory of property all over the world. The API technology will extract data from any ERP real estate platform. Now brokers can confidently offer and order real estate from any of the partners. The data will be updated in real time, preventing double reservations, confusion and potential loss of sales. Now brokers can work on several sites listing objects on any market all over the world, without having to update all lists manually, once an object is ordered or sold. The status of the module is updated in real time on all ERP-platforms.
The increasing theft of identity and fraud in international transactions facilitated the implementation of anti-money laundering and crime laws and, as a consequence, the emergence of the KYC procedure. Now the verification of sellers and buyers is carried out especially carefully through checking documents, bank accounts, etc. AQWIRE will use the KYC procedure as the final form of checking the identity of the payers.
https://www.aqwire.io
AQWIRE launched its own development program - Qwikwire Cryptocurrency, which ensures the smooth operation of cryptocurrency gateway for transactions in Ethereum, Bitcoin and Litecoin, available for conversion to fiat on the platform. All transactions processed through AQWIRE interface will be written in the blockchain. Qwikwire gateway network solves existing problems with transactions through licensing, opening a bank account, implementing KYC, AML, etc. Qwikwire will manage traditional AQWIRE payments using credit and debit cards from such leading payment systems as Visa, MasterCard, AMEX, JCB, Diners , Discover, eCheck (via ACH), and SWIFT. Qwikwire blockchain is currently based an API that connects a traditional credit card, ACH banking and SWIFT gateways to blockchain to provide real-time data logging. Qwikwire will charge 6-8% of all sales committed or initiated on the platform as revenue.
Qwikwire costs vary depending on the amount of s transaction. On average, Qwikwire charges 5.4% for credit card processing transactions, 4% for debit cards, 2% for electronic checks and 1% for cryptocurrency. Net profit and margin are now 50% (based on 5.4% per transaction), but it is expected that the amount will increase to 70% as soon as AQWIRE turnover reaches $10 million per month in the volume of transactions.
AQWIRE cryptocurrency
Calculations on the platform are carried out using QEY tokens. A total of 250 million units were issued, of which 40% are allocated for sale. Now the main crowdsale is about to over, and investors still have the opportunity to purchase cryptocurrency with a 15% bonus. The project’s hardcap is 15 million dollars. The fixed price for one QEY is $0.15.
Summary
Thus, AQWIRE is a platform that facilitates the acquisition of real estate abroad. All transactions within AQWIRE platform are cryptographically signed and verified. The use of time metrics can prevent double reservation or sale of the same property, which is a common problem when working with brokers. AQWIRE is working to reduce inefficiencies between intermediaries by consolidating all existing players on a single platform to simplify and accelerate the process of acquiring real estate abroad. The status of a transaction can be updated in real time thanks to API technology. The full functionality of the platform will be launched by the end of 2019.
Links:
Website: https://www.aqwire.io
WhitePaper: https://bit.ly/2LS2JLL
Telegram: https://t.me/AQWIRE
Facebook: https://www.facebook.com/AQwire-173178716606076/
Twitter: https://twitter.com/aqwireofficial
Medium: https://medium.com/aqwire
ANN: https://bitcointalk.org/index.php?topic=3067236.0
Author: https://bitcointalk.org/index.php?action=profile;u=980049
Disclaimer
This review by Bonanza Kreep is all opinion and analysis, not investment advice.