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Buy a bit of a house with Bitcoin

Firm sets up to trade UK property as globally-traded asset using Bitcoin.

Sheila Manchester

Unlocking the money held in the value of your home is not new, schemes abound across the UK, but here’s something completely different: buying a bit of  house with Bitcoin.

The appropriately named TrustMe says that it is a blockchain-enabled property exchange and land registry. This means, they say, that “UK property can become a globally tradable asset on a peer-to-peer platform which utilises blockchain technology.  TrustMe, a blockchain applications company, is aiming to revolutionise the global real estate market by allowing the fractional trading of individual properties using ‘asset backed certificates’ on linked, Bitcoin denominated, global property exchanges.”

TrustMe’s white paper, released today, details the launch of the TrustMe Property Exchange Limited and Blockchain Land Registry Limited, which will enable homeowners to trade shares (‘property certificates’) in their property on an open market as a new type of tradeable asset-class. Clients on the property exchanges will be able to purchase up to 49 per cent of the value of a property or residential home with Bitcoin or fiat currency, whilst the 51 per cent owner-occupier continues to live in and manage the property.

Homeowners will be able to trade shares in their property on an open market as a new type of tradeable asset-class.”

The first exchange will be rolled-out in London in October, with parallel TrustMe Property Exchanges launching shortly in Toronto and New York. TrustMe is due to announce other cities over the next 3 months and will establish regulatory compliance in each region it operates in.

London is their first choice for the location of the initial exchange, as it is host to a buoyant £2 trillion property market and has well established property laws, rights and processes. The capital is already a popular location for many international investors seeking to acquire property, however, TrustMe™ also wants to ‘democratise’ ownership by removing the capital threshold that had previously restricted the owning of property to a privileged few. It wants to open-up the asset class using Bitcoin denominated, blockchain enabled, global property exchanges to make property investment an attainable global investment choice for the many, not just the few.

Antony Abell, Co-Founder & Managing Director of TrustMe says, “The London property market, which has, for many people, long been prohibitively expensive, needs to be democratised. The TrustMe Property Exchanges will allow existing homeowners to unlock the value of their own house or properties and to use these assets as a form of stored liquid wealth, similar to a 30-90 day bank account, by trading as much or as little of their asset as they wish in an efficient, transparent and auditable manner.

Abell continued: “It has only been the recent advent of the public blockchain that has enabled the trust that people need to be able to allow the most valuable assets that most will ever have in their lives to be leveraged in this way.”

http://www.u-trustme.com/whitepapers.html

 

August 23, 2017

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