Interview with Bitrent
24 February 2018
Planet Blockchain interviewed Dmitry Krasnogor of BitRent, on 24 February, 2018. BitRent is the first blockchain platform meant to attract commercial and residential property investments at an early stage of construction in order to gain maximum profit by selling and renting out the acquired property.
Planet Blockchain: Dmitry, welcome. How did the idea of the project come about? What customer pain point are you trying to address?
Dmitry Krasnogor: BITRENT is a blockchain platform for investing, controlling and monitoring of the construction process. The mission of BITRENT is to make the construction process as transparent, fast, safe and technologically advanced as possible. Anyone who wants to be given the opportunity to invest at any stage of construction without any geographical restrictions and with minimal amounts can participate in the project.
PBC: Could you expand on the technology underlying the platform? For example, why do you need Blockchain? Which Blockchain are you using? What are the governance rules on your platform?
DK: BITRENT unites innovative construction technologies in one platform: BIM, RFID, LEED, BREEAM with Blockchain and Smart Contracts. This solution enables both large investment funds and small investors to participate in the project. We use Ethereum blockchain. All developers’ documents will be stored using the distributed ledger technology, which prevents the possibility of deleting or changing these documents. Smart Contracts Pool on the platform also functions on the basis of the developer’s documentation.
PBC: What has been the level of interest in your project so far?
ADK: The number of token holders at the moment is more than 10,000. At this stage we have a pretty good demand from both sides: from developers and from potential buyers. As for the UAE this platform can become a very good opportunity for small developers while protecting individual investors
PBC: What should investors and users know about your token?
DK: RNTB is an ERC20 utility token. All fees and commissions will be provided through RNTB, including the purchase of premium services. On the domestic stock exchange square meters BITRENT all transactions will be held only for RNTB.
PBC: With increased scrutiny of blockchain start-ups from regulators all over the world, what is the legal framework for your activities?
DK: Unlike many other ICOs we are not negligent about the legal side of our platform.
Legal and financial warranties for all parties involved in the Platform and total legal protection of investors – this is what our Platform is about. Legal regulations of real-estate matters are highly variable from country to country. But we have found a solution. Key to the legal compliance for each jurisdiction is close cooperation with legal and GR market leaders in each country.
To ensure the interests of each party we will use Ricardian contracts, crypto and fiat escrow agents’ accounts, warranty funds and financial custody services. We’ll provide appropriate and complete legal assistance for all parties involved to fulfil the goals for each one who uses our Platform. Moreover, our Platform coordinates its development and cooperates with blockchain land registry pioneer countries like Sweden, the UAE, Ukraine, Greece, Georgia, Kazakhstan and Russia to provide official title of ownership registration via smart-contracts.
PBC: What are some of the milestones for you in 2018? What are you looking forward to?
DK: 6 June 2018 – Launch of the platform in 10 countries. July 2018 – release of iOS, Android applications. October 2018 – launch in 25 countries.