Recoin Group and its founder, real estate guru Maksim Zaslavskiy, have announced the launch of ReCoin.
According to a company spokesperson, ReCoin is a new, proprietary cryptocurrency designed for a broad range of financial transactions, while being backed by real estate held by 101ReCoin Trust in countries with a developed and stable economy such as the US, Canada, Japan, Great Britain and Switzerland.
The ReCoin ICO – the initial fundraising period and token pre-sale stage – is scheduled for August 7th – October 9th, 2017, which is open to all comers. The pre-sale of tokens is unlimited. However, the volume of tokens designated for sale at a discount is limited.
When launched, the ReCoin ecosystem will consist of, or be be represented by, the these internet partner platforms:
- 101rebid – an online platform for conducting auctions for the sale/lease of real estate;
- 101cowork – Internet service for finding/offering real estate services;
- 101news – a news site dedicated to real estate;
- 101mls – a classified ads platform designed specifically for Realtors;
- 101fundit – an online platform for crowdfunding in real estate.
There are several economic and technical measures involved in support of ReCoin’s attractiveness as a means of payment for real estate transactions, which will be managed, tracked and authenticated through blockchain technology.
An international team of attorneys and programmers have been working on creating solutions for ReCoin holders to allow them to enter smart contracts in real estate rent (with the addition of sales contracts later), developing the supporting ecosystem and creating partnerships with various internet platforms.
These measures shall inevitably lead to the exponential increase of the ReCoin’s investment potential. The proceeds from the initial sale of tokens will be invested in the highly regulated real estate market, thus reinforcing holder/investor confidence in ReCoin. Also, 83 per cent of the mining within the next 50 years of the issue will be invested in real estate as well.
The company says the goal is to develop the ReCoin ecosystem which includes the search for, creation and integration of the internet platforms that provide services in the real estate, retail and financial markets. Point-of-sale and other businesses of any specialisation will also apply for inclusion in the affiliate program.