Konkrete is the name of the company. In a general sense, it also stands for the name of the utility token (KKT) that will be used on the distributed unit registry, and the securities governance platform we are developing (The Konkrete Platform).
The proposed platform is a Blockchain enabled distributed unit and share registry. It effectively also serves as a distributed secondary market for securities. It includes a distributed KYC process and also includes a distributed voting solution that can be used by various security issuers to record shareholders resolutions in a transparent manner. This infrastructure is what will ultimately allow individuals to crowdfund their deposits or release equity from their existing properties via our Fractional Property Fund.
We are proposing to setup a Fractional Property Fund that will use the Konkrete platform. This fund will allow anyone to be able to propose a property for crowdfunding. This will include crowdfunding their home deposits as well as allow an equity release for existing properties.The use of the Konkrete platform will ensure decentralization of control of this fund by ensuring a transparent and distributed rules based user driven process for selection of properties for crowdfunding. The platform will also serve as a peer to peer secondary market for this fractional property fund.This fractional property fund is separate to the Konkrete utility token and will be setup as a securities offering under the relevant regulatory requirements.Similarly other funds will be setup to make buyer driven developments possible. This will allow the eventual owners to participate in the development of the property itself. This will mean they can participate in the development profits and reduce the actual money they have to pay to acquire the property.By focusing on both the development margin as well as reducing the outlay required for owning the property itself through co-ownership with a number of other people we intend to make a dent in the housing affordability crisis.
Blockchain allows us to utilise decentralization and distributed operations. The fractional property fund will allow any one to propose their own properties for crowdfunding. Use of processes governed on the Blockchain where the votes on which property should get funded is transparently and immutably recorded, which means the systems can provide everyone a fair go and be free of interference from any one entity - including us.We also see Blockchain as a way to reach a global audience. Using Blockchain a person sitting in Venezuela or South Africa should be able to invest in a share of property in a safe haven country like Australia in a safe and transparent manner.And finally we see the distributed registry as an implicit secondary market. This introduces liquidity to the fractional property concept we are proposing.All 3 points mentioned above, Governance, Distribution and Liquidity are applicable to not just our own fractional property fund but are also valuable to any securities issuer.While we are building the underlying Blockchain infrastructure to support our own fractional property fund, this same infrastructure can be a very powerful platform for securities all across the world whether or not they have anything to do with property.
KKT will be used for the following purposes:
We propose to use the Ethereum Blockchain for the utility tokens. We plan to use Ethereum for the security tokens as well but program them so that they can be held only in whitelisted wallets where we know the KYC is complete.
Konkrete utility tokens are currently not for sale in Australia. Australian Investors in the Konkrete share sale will receive a 1:1 bonus in tokens for being early adopters + any relevant bonuses.Non-Australian residents can participate as applicable in their relevant jurisdiction.
Any tokens, including bonus/referral tokens received during the pre-ICO period will be locked up for a period of 6 months after KKT being listing on an exchange. Konkrete team members and advisors are limited to selling a maximum of 25% of their tokens every year over a 4 year period.
The Konkrete utility tokens will be ERC20 and can be traded on any exchange that would support these. We are planning to list our tokens with some exchange partners within 12 months of the presale.
Konkrete tokens (KKT) will be used to pay transaction fees for updating the distributed share registry. It will be used by issuers to list on the distributed share registry. It will be also used to pay for the distributed id verification process.
In many ways, Konkrete is a natural evolution of Estate Baron, albeit focused on different customers. Estate Baron focuses on providing the issuing legal structure to property developers as well as providing the front end interface for them to conduct an IPO. It also provides a centralized share registry.The Konkrete platform on the other hand is more about making this share registry decentralized, creating a secondary market and also a governance protocol for these securities to operate in.Together they provide an end to end system, but both can work independently of each other as well and plug into other systems.
No, Konkrete is offering shares as part of its fundraise and will be a fully compliant offering. Unlike an ICO, investors will be receiving shares in the company. Any tokens are given as a bonus to our investors to spur early adoption of the platform once it goes live.