Geleximco — Kardia Labs Ready To Develop First Of Many Real-world Applications Built On KardiaChain
Multi-billion dollar Enterprise to tokenize Real Estate
Hi all,
In April of this year, we proudly announced a partnership that was vital to our early growth. It legitimized the real-world potential of our project and the blockchain solutions we were building. Geleximco, one of the largest private institutions in Vietnam, whose economic reach spans across multiple industries and continents, had shown a healthy interest in our vision.
Since then, the KardiaChain team has joined forces with Geleximco’s experts, software engineers, and project managers to evaluate the group’s current technology and processes. The aim was to identify value by pragmatically assessing impact and feasibility at a granular level. If carried out correctly we could address pain points by helping Geleximco leverage our innovative blockchain technology to achieve operational efficiency and perhaps even the opportunity to enter new markets.
“As a market leader, Geleximco has always chosen to embrace new technologies and I believe this forward-thinking mentality is more pertinent to our success today than at anytime in the past. For me, Covid-19 has been the ultimate disrupter. Leaders who act fast on testing, piloting, and adopting cost-saving solutions like those Huy Nguyen and his exceptional team of engineers have built, can and should, help their businesses emerge on the other side of this situation leaner, nimble, and ready to take full advantage of the coming recovery.
Adapt or die is the mantra that often rings in my mind when I discuss these subjects with peers and so we at Geleximco are not fearful of change but instead grateful to the innovators of this world. It is with true excitement that we move forward together with KardiaChain towards impactful improvements on some of our current systems as well as developing new business models that can foster future economic growth. “ Quynh Vu, Geleximco
Visionary approaches to technological advancement like the one detailed above are why Geleximco is such a hugely successful brand name in South-East Asia. Working closely with them over recent months our team has been privileged to witness the ways in which they fight for every inch of competitive advantage across their multi-sector network of subsidiary enterprises. We are humbled and encouraged immensely about the fact this foresight led them to place such faith in us.
In an effort for us to keep our news short and informative, we would invite anyone wishing to learn more on the scope of Geleximco’s immense portfolio to please take a look at the very in-depth “Zero to One” analysis of Geleximco carried out by KardiaChain Ambassador, Bankless.
Today we are excited to announce what will be our 1st joint venture with Geleximco, a use case which was finalized after we recently formed a new center for blockchain research, “GELEXIMCO — KARDIA BLOCKCHAIN LABS”. This joint initiative provides both parties with an environment for our best thought leaders, economic strategists, and blockchain architects to coordinate on new products and not yet disclosed DAPPS to be built collaboratively with Geleximco and eventually deployed on Mainnet KardiaChain.
Real Estate Tokenization
Tokenizing large-scale real estate developments is our 1st Blockchain based real world use case. The global real estate asset class accounts for more than 60% of total asset value, eclipsing other assets such as gold and stocks. Despite the sheer size of this market the number of people that can invest in this asset class is very low due to high capital requirements to participate.
In the US, there are financial products called REITs (Real Estate Investment Trust), an option for private investors to own real estate indirectly by buying shares in the company that buys real estate, these investors realize gain when the shares of the company go up in price. The total value of US REITs is already at $1 Trillion and more than 80 millions American have participated in it either directly or indirectly so the market desire for that kind of product is clear yet South East Asia with its almost 700 millions population has not built out this particular financial product.
“RET” is not an attempt to become a blockchain version of a REIT because the ownership is direct, you will own a part of the asset and not a share in some centralized organization that is buying the asset. Essentially token holders will partake in fractional ownership.
Fractional Ownership of assets gives small and large investors equal opportunities, anyone can own a percentage of a tangible real world asset if they wish and this is made possible thanks to KardiaChain smart contracts and the immutable, fraud resistant characteristics of the blockchain.
Key Takeaways
- Fractional ownership is an investment approach in which the cost of an asset is split between individual token holders.
- All the token holders split the benefits of the asset, such as income sharing (rent), reduced rates, and usage rights.
- This type of investment split is common in the purchase of expensive assets, such as luxury vacation homes, hotels and apartment blocks.
- Token holders can make profits through various revenue streams as stated above but also have the option to sell their share/stake in the property when they wish.
When the time comes to launch this 1st collaborative use case with Geleximco and their subsidiaries we will have more information on how the model will function.
We hope the possibility of millions of KAI staked in Real Estate Development projects gets you all as excited as us!
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