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New Cryptocurrency Offering Backed by Real Estate

Property Coin is the creation of Los Angeles-based Aperture Real Estate Ventures, and is set to launch at the ... happening March 21-22 at the Renaissance Nashville Hotel in Nashville, Tennessee. You can learn more by clicking here.

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The cryptocurrency landscape is something of a wild frontier at the moment, with new cryptocurrencies being introduced all the timeBitcoin is by far the best known of them, but even Bitcoin’s long-term legacy remains unwritten, to say nothing of how blockchain and cryptocurrencies as a whole will change various financial institutions and industriesBut now a new crypto is trying something interesting: Property Coin is backed by real estate. Property Coin is the creation of Los Angeles-based Aperture Real Estate Ventures, and is set to launch at the end of February with an initial coin offering that will allow real estate investors the chance to “own a professionally managed portfolio of real estate assets via the blockchain.” Property Coin uses the Ethereum blockchain as its foundation, which is itself the second leading cryptocurrency after BitcoinProperty Coin will cost investors $50 per coin, with a required minimum purchase of $1,000. Aperture says that Property Coin is a strong alternative to Bitcoin, which is increasingly popular but also prone to wild swings in value on any given dayMoney raised by the ICO will be used “to fuel the growth of Aperture’s existing technology and real estate investment business, which uses a combination of proprietary technologies and human expertise to spot otherwise hidden opportunities to invest in undervalued properties in metropolitan areas throughout the United States,” according to a statement by the company. “Unlike many cryptocurrency offerings, Property Coin’s proposition is straightforward,” said Andrew Jewett, Co-CEO of Aperture“One hundred percent of the net proceeds from sales of Property Coins will be used to invest in properties and loans identified by our proprietary software and our experienced teamAccordingly, Property Coin is designed to be 100 percent backed by real estate assets, giving each coin holder a fractional economic interest in the investments made by Aperture or its affiliates with the net proceeds realized from the sale of Property Coins.” Property Coin is just the latest in several interesting ventures seeking to unite the housing market with the new frontier of cryptocurrenciesThe City of Berkeley, California, recently announced it was teaming with UC Berkeley’s Blockchain Lab and finance startup Neighborly to look into creating a new cryptocurrency that would be backed by municipal bondsFunds raised by that cryptocurrency’s ICO would then be funneled toward affordable housing initiatives within the city. Cryptocurrencies, blockchain, and other potential technological game-changers will be just some of the topics covered at the inaugural Five Star Fintech Summit, happening March 21-22 at the Renaissance Nashville Hotel in Nashville, TennesseeYou can learn more by clicking here. bitcoin blockchain cryptocurrency Property Coin Real Estate Investment 2018-02-26 David Wharton tweet !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);;js.src="//";fjs.parentNode.insertBefore(js,fjs);}}(document,"script","twitter-wjs"); (function(d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); = id; js.src = "//"; fjs.parentNode.insertBefore(js, fjs); }(document, 'script', 'facebook-jssdk')); (function() { var po = document.createElement('script'); po.type = 'text/javascript'; po.async = true; po.src = ''; var s = document.getElementsByTagName('script')[0]; s.parentNode.insertBefore(po, s); })(); Tagged with: bitcoin blockchain cryptocurrency Property Coin Real Estate Investment About Author: David Wharton David Wharton, Online Editor at the Five Star Institute, is a graduate of the University of Texas at Arlington, where he received his B.Ain English and minored in JournalismWharton has over 15 years of experience in journalism and previously worked at Thomson Reuters, a multinational mass media and information firm, as Associate Content Editor, focusing on producing media content related to tax and accounting principles and government rules and regulations for accounting professionalsWharton has an extensive and diversified portfolio of freelance material, with published contributions in both online and print media publicationsWharton and his family currently reside in Arlington, TexasHe can be reached at [email protected] Leave a Reply Cancel replyClick here to log in or registerIt only takes a few seconds to create an account. 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