Blockchain is a new buzzword in nearly every industry. It’s everywhere from banking to education, investing, healthcare, travel, and government. While blockchain is known to underpin the cryptocurrency phenomenon, the technology can be integrated into different business processes. The technology provides an incorruptible ledger which identifies documents, transactions, and assets among others. Moreover, it offers a way to store, record and share data of different kinds. Forbes reported on September 6th, 2018, that “blockchain is not a threat to the accounting industry. However, it is an opportunity to create a secure way to conduct transactions in the real estate and other sectors.”
The latest player on this scene is the Projagg platform.
Blockchain, Projagg, and Real Estate
A US-based company, Lighthouse Global Holdings, is looking to accentuate the project development industry with a new blockchain-powered sharing economy. The platform revolutionizes the mode of conventional project management by creating a win-win situation for landowners, funders, and developers. The economic sharing platform, dubbed Projagg, allows all funders and developers to place their land on a platform that runs on a distributed ledger technology. The company is also looking at ways of enhancing future projects in Cebu by using the same platform.
According to experts, the Projagg platform will raise over $3.6M USD in a cutting-edge technology that you can access anywhere across the globe. The blockchain technology will cause ripples in the $6.5 trillion USD project development industry in the near future. Incorporating the technology in different sectors of the economy will allow venture capitalists, property funders, and corporate investment bodies to access a safe and secure working platform.
The Projagg system is designed in a way that it can handle common problems such as trust issues that contribute negatively to the development industry. For decades developers have been victims of failed projects because there is no accountability due to lack of funds. Nonetheless, investors have also lost money because of misappropriation and fraudulent use of funds. Such events have prompted leaders in the sector to develop a technology that will help to alleviate any fraud.
Projagg Offers Unlimited Funding
Unlike the previous real estate development systems, the new blockchain system Projagg allows land developers and investors to access a huge capital base. This is essential when it comes to the development of massive projects because developers require a large sum of cash. The project funders can easily monitor the progress of the real estate development by using the same technology. The blockchain/cryptocurrency technology provides a permanent and transparent record of all accountancy based data. In addition, it streamlines the process for easy auditing and progress monitoring.
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