BRICKLET aims to solve property crisis through blockchain
Press Releases, August 16, 2022
Lakeba Group - Company
By Andrew Birmingham, Athina Mallis
BRICKLET breaks property into smaller pieces to enable people to buy parts of the property, to help everyone become home owners.
Darren Younger, founder and CEO at BRICKLET said the biggest challenge to solve in the market around is the ever-growing prices of property.
"Property is going up in value and wages are not going up the same way. We've seen this over decades, which is why BRICKLET came about was to help people with the affordability of property," he explained.
"BRICKLET is a marketplace for smaller pieces of property, what it does is the platform breaks up the property into smaller pieces and enables people to buy like a $25,000 piece of property as an example."
Younger said it helps people get onto the property ladder and helps turn them into homeowners with a much smaller deposit.
One of the important characteristics of the model is that the shares of the property, also known as the BRICKLET, are at least as liquid as a traditional property asset.
Younger said, "The owners of a BRICKLET is an owner of the property, so they're registered on the title. There's no tokenisation as a digital asset that sits above it. The actual owners are real property owners, the value of the BRICKLET platform is that all the pieces are independent of each other.
"If you own one piece, you can sell it at any time. So you go into the marketplace, you put it up for sale and then if somebody buys that the title is then updated with that new owner."
BRICKLET also represents one of the most concrete use cases for blockchain, given the need for certainty around provenance. As the platform basically enables an ecosystem, APIs are also important at the technical level.
"It all runs on a on a database, and there is a distributed ledger that sits underneath it. We don't actively go and talk about the blockchain component of it. However, it is there for the for the ledger of the BRICKLETs," he explained.
One of the challenges of multiple ownerships is who attends strata meetings and represents the whole property.
"How it's done is through an asset manager, typically, so the property owners, they assign an asset manager, who then goes and votes on their behalf. All the owners of the BRICKLET can be active in those decisions," he explained.
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Lakeba builds businesses that are optimised for high returns from low investment, at low risk when compared with the start-up sector. It utilises proprietary artificial intelligence (AI), decades of business and technology experience, and scalable shared services, to support each phase of business building. So far it has 'conceived, created and commercialised' 15 ventures, of which three have already been spun-out.
The unique Lakeba AI 'neural network' 'conceives' opportunities by continually interrogating the internet to establish patterns which suggest a business 'need' that could be solved digitally. Its entrepreneurs then double check this analysis and determine the viability of the business idea and its commercial potential.
To 'create' a venture, Lakeba works with partners, industry, and the wider innovations ecosystem to create digital technologies that eliminate the frictions identified by the neural network. A team of technologists, designers, and entrepreneurs build out the value proposition and establish the business. Lakeba invests its time, capabilities, capital and resources to craft ideas into reality.
'Commercialise' is the final stage of the Lakeba process. Once the digital proof of concept delivers on its promise, it is enhanced with radical intelligence. Working with partners, investors and the customers, Lakeba's team refines and optimises the operations and distribution to rapidly commercialise the venture. This ensures the business continuously delivers value to customers as it scales and diversifies across industries and the globe.
Lakeba Press Contacts
Carmen Kalinowski-Weaver
c.kalinowski@lakeba.com