Actual property investor and entrepreneur Vernon J. is on a mission to democratize real estate investing by way of the launch of EquityCoin™ (EQTY). It’s the primary digital token on the blockchain-backed by inexpensive housing. Vernon believes that EquityCoin is one answer to serving to extra communities of coloration construct generational wealth by way of actual property investing.
“The mixing and utility of blockchain expertise inside the actual property funding sector is the answer to decreasing America’s racial wealth hole, which has greater than doubled within the final 4 many years,” says Vernon. “Via the fractionalization and tokenization of belongings, blockchain expertise reduces the minimal funding measurement, which opens new alternatives beforehand inaccessible to most Individuals.”
Creating Inexpensive Housing Via Blockchain
Vernon has been within the multifamily actual property trade for over 15 years, facilitating over $50 million value of transactions. However there was one highly effective second that modified every thing: renting a unit to a single mom residing in a shelter. This opened Vernon’s eyes to the problems of homelessness on one other scale. As a substitute of sitting again and watching the inequities round him, Vernon determined to take motion and promote alternatives for all. EquityCoin was born in 2021.
“As soon as I handed her the keys to the house, she wept with tears stuffed with pleasure,” says Vernon in an announcement. “That feeling of success was inexplicable, and it was at that second I knew my goal was to supply a serving to hand to hundreds of different households in want.”
EquityCoin was launched to offer high quality housing to marginalized communities. By mixing the capabilities of blockchain expertise together with his inexpensive housing expertise, Vernon hopes to revitalize city areas across the nation.
How It Works
In terms of constructing wealth, actual property has been probably the most promising asset courses out there. But it surely’s additionally identified to be probably the most illiquid belongings. It could require weeks and even months to transform actual property property into money.
EquityCoin solves this drawback. As a substitute of navigating a standard 30-day shut, the alternate interval is lowered to 12 seconds. Via tokenization on the blockchain, customers get entry to instantaneous liquidity. This represents a groundbreaking shift within the switch of actual property property.
Based on the website, EquityCoin was created to incorporate the next traits:
1. To provide EQTY holders rights to property money flows
2. To be freely transferable to anybody with out restriction
3. To allow legally acknowledged possession of actual property
Via this decentralized method to inexpensive housing, EquityCoin plans to revolutionize the actual property funding equipment. Additionally, Black and brown communities could have a chance to take part within the wealth-building course of.
“EquityCoin will champion a brand new sharing fairness economic system by giving neighborhood members the chance to personal fractions of income-producing properties within the cities that they really dwell in,” says Vernon.