Blockchain project Hansecoin has big plans for 2019. The project issues security token-like units that are backed by real estate assets.
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Tallinn-based Hansecoin, a blockchain project focused on the real estate market, is ready to onboard about 50 projects in the property and manufacturing space in 2019, Dr. Chris D. Kacher, co-founder and managing director of Hansecoin, told Cryptovest. The total volume of the projects planned for the next year is approximately 252 million euro. According to him, Hansecoin is scaling up across the European Union (EU), with many companies ready to onboard their projects onto its platform. The blockchain-powered startup is currently compliant across 17 EU countries.
The blockchain-oriented real estate platform will be fueled by two main types of tokens: Virtual Project Access Token (VPAT) and Project Participation Token (PPT), which also referred to as Hansecoin 8. The latter is a security token-like unit that is backed by real estate assets. The coin represents an Ethereum-based token built under the ERC-223 standard, is issued by Hansecoin OÜ, and is compliant with the requirements of the Estonian Financial Supervisory Authority (EFSA).
Currently, the issuer is conducting a private sale, with ten family offices already interested in participating in the event. Kacher revealed that his firm had enough funds to contribute assets to Hansecoin in its first use case.
Kacher is confident in Hansecoin’s success also thanks to the contribution of Axel Jacob, the other co-founder of the firm. Jacob has a long family history of being involved in real estate development, thus accumulating substantial holdings in the EU. Hansecoin sees no real competition because, as Kacher put it, none are focusing on development equity capital as the barrier to entry is high and requires much know-how and relevant relationships with the right people.
“We have solved the issue of asset tokenization for development capital which accommodates both private developers and public-private partnerships,” he said.
Certain fast-growing cities in countries like Finland, Sweden, Estonia, Poland, etc. can use the Hansecoin platform to tokenize their construction-ready, permitted projects, and land.
“We will partner up and, whenever suitable, whitelabel with large construction companies such as Cemex of Spain, for example, as they may wish to do housing development projects that are population driven using our platform,” Kacher added.
SOURCE (https://cryptovest.com/news/estonian-blockchain-firm-hansecoin-ready-to-expand-property-tokenization-in-2019/)