The BitRent blockchain platform management hosted top investors and UAE construction department chiefs at a closed presentation titled “BitRent Private Conference” on March 6, 2018.
Who were the participants?
Renowned and reputable developers, of the UAE: Damac, Dubai Property, 22 carats, Kempinski, and Virtue GI, signed contracts of intent and commitment.
The conference was attended by key investors in the market, whose wealth (as per Forbes) is upwards of 15,000,000,000 USD. Sheikh Saif Al Mansoori, Sheikh Sultan Al Nuaimi, and investors Mahendra Patel were among those in attendance. The list of guests invited to the event also included:
- Abdulkarim Safwan (Vice President of Damac)
- Mohamed Mahgoub (Chamber of Commerce and Industry)
- Saif Al Mansouri (Ben Mansuri Company)
- Abdulhakim Mahmood (Director, Dubai Properties Group)
- Alexander Pushilin (a private investor)
- Mohamed Fawad Akber (CEO of AIP)
- Mahendra Patel (GEAP group member)
- Maria Marchenko (founder of Capric Media)
- Saif Al Mansouri (Partner – Bin Mansouri Company)
- Pradeep Padmanabahan (Director of the OBS group)
The purpose of the BitRent Private Conference
The key aim of the BitRent presentation, as outlined by project founders Dmitry Starovoitov, Igor Pavlov and Vadim Dashut, was to bring together the leaders of blockchain funds, cryptocurrency clubs, and top construction industry specialists, and provide an environment conducive to the establishment of business ties and connections.
The presentation, which focused on the one-of-a-kind constructional blockchain-platform and the first tokenized facility, gave attendees insight into the true potential of the BitRent platform and what it has to offer toward the development and advancement of the construction industry. The presentation also highlighted the multiple points of convergence between the real estate sector and the crypto economy.
The BitRent platform has been developed to resolve the main challenges being faced by the construction market – e.g. closedness and conservatism. Through this platform, investors will not only have the opportunity to invest resources, but will also be able to maintain complete control over the construction of facilities.
The Advantages of the Platform
One of the main advantages of the BitRent platform is the low entry threshold, which allows for an unlimited number of people to participate in construction projects. In addition, Blockchain, Smart Contracts, BIM and RFID technologies ensure the security of all operations on the BitRent platform.
System participants will be provided full access to the database of under-construction objects; they will be able to interact with the projects, vote for priorities, and monitor real-time progress. BitRent is not limited by geo-references, and anyone can invest in projects all around the globe.
In addition to receiving 30% of the profit from investments, investors will also become shareholders in the project. Meanwhile, all financial resources invested in projects will be kept protected from exchange fluctuation. Overall, the entire process of investment and construction control has been designed with simplicity and transparency in mind.
The platform allows construction companies to join in at any given stage of construction. They will be granted access to the participants’ database, along with the ability to promote themselves and thus attract investments.
What was Presented at the Event?
At the event, the creators of BitRent elaborated on the platform’s functionality, while representatives of leading construction agency Megaline, BitRent’s strategic partner, presented Unity Towers – the platform’s very first facility.
Unity Towers is a complex that comprises three skyscrapers, which contain a residential complex, a hotel, a state-of-the-art business co-working center, and an IT hub; a separate structure for parking, which can accommodate 450 cars, is located adjacent to the complex. Unity Towers will be located in the resort area, in close proximity to the Black Sea, which presents an attractive proposition for investors.
RNTB-token owners will be stakeholders in the Bitrent Platform, and will be able to have a say in the speed of construction for certain projects. Token holders will also be able to manage their shares and use tokens to buy and sell square meters.
“RNTB is a utility token, a payment method on a platform with a large amount of functions. 2018 can be called the year of the ‘Semantic Token’, when there is real business and a real sector of economy behind every crypto currency”, said BitRent platform founder Dmitry Starovoitov.
For more detailed information on BitRent, you can visit their official website.
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