Working on ideas about blockchain and real estate, a Philadelphia-based startup company has launched an "open network and open economy" for trading properties and create a chain of opportunities. Multibriefs reported that the company Kognition launched the startup effort and it is aptly named Koin.
Koin, according to reports, is designed in such a way that owners, traders, builders and vendors will communicate and collaborate with each other to create a collaborative network and build value for those involved. Koin also represents one of the first-ever efforts to create a 'smart property' that can be used to trade seamlessly in an economy built to propagate blockchain for trading properties.
It's interesting to note that Koin isn't the only one in the world that is already migrating transactions and processes on the cloud. Another startup named ARK proves that the time for exploring blockchain for investments and properties is now.
ARK, for its part, connects to popular bitcoin networks like Bitcoin and Ethereum. It can also be synced for fast transactions using wallets that are simple to use, quick to learn how to use. It just shows how blockchain makes things simpler, according to Coin Telegraph, given the consequences. Blockchain remains in the dark because of understandable concerns such as congested systems and undelivered information.
The website of the application comes with instructions and updates on the project. It is still in its early stages, with 84 percent being completed, as seen on the website information. The ARK will reportedly deliver new features as it becomes more complete.
On the other hand, Kognition's Koin's ambitious goals include becoming the app of choice when 'doing business' in an entirely new way. Everything will be done through blockchain--the control of ownership as well as smart contracts, these will be stored in it. It offers users extra protection in the otherwise unprotected world of the Web.
In its current form, Koin is in private pre-sale form. The entire platform aims to go live in April 2019, where most transactions will pass through it. It is in this effort that transactions will go from "physical to virtual" and become even faster to process and finish.
Koin hopes to tap into the world property market, valued at $228 trillion in 2016. Koin hopes to see itself become a forerunner and leader into a new property market--the smart property market.
