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Welcome to another post in the series, ‘Coin of The Day’ where we review all cryptocurrencies in terms of usability, transparent diligent team and stability.
Like always, lets start up the random coin selector and pulled one out of the abyss of the oblivion (been reading some Norse legends over the last few days).
As can be seen by everyone with good sight, the cryptocurrency for today’s post is Imbrex.
What Is Imbrex?
According to Britannica.com, Imbrex is an ancient Greek and Roman raised roofing tile used for covering the joint between the flat tiles. They are use to redirect rain off the roof and also serve as decor.
Tegula and imbrex.
But as a cryptocurrency, Imbrex (REX), originally REX is an Ethereum-based token which is creating a global real estate data listing platform while giving users control over their own property, providing faster transactions and aims to connect buyers, sellers and agents over its open network. The latter is accomplished by incentivizing the participants to contribute their data to the platform.
It was added to CoinMarketCap on September 12, 2017.
Below is a table of other information about Imbrex that are notable- just to make reading time shorter.
| Mineable: | No |
|---|---|
| Consensus Algo: | Part of Ethereum’s Blockchain (Proof Of Work currently) |
| Team: | 8 members: Stephen King (Founder and CEO), Alex Jacoby (Operations Manager), Brock Haugen (Senior JavaScript/ Node.js Engineer), Piyush Shivastrava (Senior Solidity Developer), Edouard Barthelemy (Senior Software Engineer), James Rutledge (Full Stack Engineer), John O’Sullivan (Backend Engineer), Lauren Sobin (Head of Marketing), Kyle Hummel (User Specialist), Ryan Song (Community Liaison) and Jill Chodorov Kaminsky (Advisor) |
| Industry: | Real Estate |
Now, onwards to the features:
Uses Ethereum and Interplanetary File System to build a global, shared real estate database.
Escrow transaction layer is carried out by a smart contract which in turn creates security and efficiency in information sharing.
Universal Property Identifier- this will serve as the genesis record for future transactions.
Users are paid to list and rate land properties.
90 Day Cliff- their way to combat idle listings and make updates a possibility on their platform. Any estate that has not been updated in 90 days though transaction will be removed from the database.
Circulating supply is at 8,660,756 REX.
The total supply of coin stands at 24,015,497 REX.
-All Time High (ATH): US$3.38 (0.00024351 BTC) on January 12, 2018. Possibly caused by the euphoric hype of the December bull rally and/ or a Forbes article on blockchain being use to transform real estate in 2018.
At the time of this post, its all-time-high of 24,351 satoshi is equivalent to US$1.60.
MY CRITIQUE
WEBSITE AND SOURCE CODE:
The website is okay. Good use of blues, greens, purples and white. It is kinda dull looking but this is an appropriate theme.
As for the logo, it matches the project very well. The logo does look like tiles.
Order of the information on the web page is done perfectly.
The Whitepaper is not too bad. It is somewhat long and requires the reader to click through.
The roadmap, per se, is not so presentable, being that it appears like a list of future goals but without a definite timeline, but can still work.
For the Top Level Domain, it is okay. Their domain is secured and appropriate.
As stated in their source code on Microsoft-owned Github, 7 commits were submitted by one contributor over 2 years ago. The last commit was on June 9, 2016. Their development activity is very low; almost near inactive.
SOCIAL AND POPULARITY:
Twitter- 2,842 followers (and growing) with over 960 likes. Relatively low engagement. Tweet updates and retweets are done on a regular basis.
Facebook- Posts and updates are scarce on here. Engagement is low. Over 2,750 people follow this page with more than 2,670 likes.
Bitcointalk- 12 pages and counting. No one from the team post on here. There are many confused and unsure investors and hodlers in this group.
Reddit- Posts are infrequent. The last one was over a month ago and it was about their rebrand from Rex to Imbrex. There is a total of 409 readers. On average, there are 21 users that appear on here daily.
Telegram-752 members at the time of this writing. A few intelligent people are in this group so you can hold a decent conversation with them without resorting to harsh language (by my own experience). With that said, beware of the die-hard and the bagholders. They don’t have your interest at heart.
YouTube: Official channel, REX, has over 370 subscribers with only one video, introducing the bespectacled Lauren Glasses. Although her enthusiasm can be chalked up to poor acting and reading from a script, she does highlight the importance of this altcoin. Despite her performance, she got over 868 views and some fair comments. Watch her video here.
Other YouTube Channels: I have found six channels that do reviews and interviews for Rex. The most popular one, Cryptocurrency Virtual Summit, did an interview with Stephen King, the co-founder. You can watch this 14-minutes interview below.
EXCHANGE:
Imbrex is traded on the following exchanges:
IDEX
CoinExchange
No announcement of Imbrex being added to any more exchanges.
CONCLUSION:
Imbrex is an Ethereum-based token that is involved in real estate listing and transactions. It has been around on the market for less than a year. It has a strong team of experts in their field. It is positioned in one of the best industry in the world.
Investment or not?
Well, it is still early in the game for Imbrex. The real estate market is definitely in dire need of blockchain technology to reduce, if not completely eliminate the chance of major issues associated with carrying out transactions in regards to property ownership. E.g. double spending, fraud, abuse and external manipulation (either caused by man or natural phenomena) processes involving selling, listing, renting and buying.
No more will there be forge documents, false reviews and signatures. No more will there be real estate agents lying just to sell a property no one wants. With blockchain, human error is minimized. Dependency on a third party such as the notaries, recorder and insurer will become a thing of the past. Estate and rental space information will be readily accessible.
Yet, on the other hand, time and external factors such as war, disaster and unknown environmental inconveniences can occur. What if the broker or owner does not have access to the network itself because their internet is down as a result of those factors I mentioned in the previous sentence? Will their project be licensed to register these brokers, agents and estates? Even if this project did get in line with the government, what makes them better than Zillow, Century 21 and Better Homes & Gardens Real Estate? To compete with these businesses, Imbrex had to list quality locations at a faster rate than them.
In addition, even in the cryptocurrency market, Imbrex have competition. Check out IHT Real Estate Protocol, BitRent, Propy and Rentberry. These are pretty much in the real estate sphere and are doing a bit better in my opinion. They have the marketing and actual product to attract investors. They have been active with their users since their creation.
So for now, I will not invest in this one.
Until next time, remember to subscribe for more of this content, do not let the craziness in the market drive you up the wall. Share this article with your friends, family members and even your enemies. I know you want to.
Always be fantastical and lock down that spot on the Moon Express.
Later.
Source:
➤CoinMarketCap
➤Imbrex Website
➤Youtube Videos: Cryptocurrency Virtual Summit video and Sat Bits
➤Images Courtesy of Pixabay
