Frequently Asked Questions. Here are some common questions about CastleCoin token.
What is CastleCoin?
CastleCoin is a blockchain based Australian real estate investment platform that establishes a community empowering buyers, vendors and market participants to engage in an ecosystem supporting a more efficient investment sector. Bringing the key functions of listing, selling, transferring and fractionalising a single place CastleCoin delivers a seamless investment process in addition to a digital currency that is both functional and tradeable.
What are the platforms key features?
Available on desktop and mobile devices, key features of the platform include a real estate education and data hub, a professional services network, the listing and sale of whole real estate assets, the listing and sale of fractionalised assets in addition to an asset token exchange.
What makes CastleCoin different?
CastleCoin’s reputation system will create a more transparent and reliable Australian real estate marketplace than exists at present. CastleCoin’s solution is superior to existing real estate platforms as it offers time- and money-saving smart contracts and opportunities to invest in both whole and fractionalised assets. No other real estate services or platforms are dedicated to delivering full ecosystem including support from education, professional services and reputation management. Castle Coin will also accept payments in crypto-currency, unlike all existing fractionalized real estate solutions.
What are the benefits?
Investors, both local and international, can expect to benefit from their access to the Australian real estate sector and a full range of established and new real estate developments screened by an active user base. Further to this, all listings are accompanied by up to date market data with access to supporting professional services with both crypto and FIAT payment facilities. Vendors including agents, builders, developer and individuals benefit from the platform by knowing they are exposing their listings to an engaged investor community offering a pool of capital, an automated sales and listing process in addition to potentially shorter sales windows.
Why use blockchain technology in real estate?
Transactions in the real estate sector maintain a requirement for high levels of accountability, record keeping, trust and evidence of transfer. By employing blockchain technology, settlement and record keeping processes can be automated and form part of the transaction process itself. In turn, this improves operational efficiency and reduces both the amount of time and costs associated with asset transfer. In addition to the automation advantages, blockchain provides a secure and transparent representation of coin, token and asset ownership improving security while removing the possibility for fraudulent transactions and transfers.
Can I still get financing on properties bought through CastleCoin?
Absolutely, the platform is designed to support and streamline (not replace) the conventional real estate investment process for whole assets. Each transaction is facilitated by a digital transaction portal which you can share with your bank, finance broker, accountant, lawyer or any other professional or individual.
Does CastleCoin operate globally?
The initial instance of the CastleCoin platform will focus on the Australian real estate investment sector, however, the community of potential buyers and its application is international. Due to the regulatory requirements and local userbase which are unique to each region, the international rollout for the purchase and sale of international property via platform will be staggered.
How does CastleCoin work?
By combining blockchain technology with everyday real estate transactions we are able to build an entirely new way for users with no technical knowledge to take advantage of the benefits offered by smart contracts. CastleCoin is an interface designed to create and deploy smart contracts for real estate transactions on the Ethereum blockchain in the form of cryptocurrencies providing the ability to interact with the smart contract during the course of the agreement.
Whats the purpose of the coin?
Castle Coins are the unit of currency used to facilitate the CastleCoin ecosystem and provide the user with contribution, governance and transaction rights to the platform, more specifically; purchase platform membership, list properties, and cover the cost associated with generating and executing smart contracts. The value of coins is driven by their utility on the platform and the subsequent rights afforded to coin holders in shaping and governing the platform and its respective services.
Where will CastleCoin Coins be available?
Coins will be available directly from the platform or via Australia largest cryptocurrency exchange ACX (ACX.io)
Are your tokens compliant with ERC20? Can I store them in a third-party ETH wallet?
Yes, our tokens are compliant with ERC20. You can transfer them to any wallets supporting this standard of tokens.
What currencies can be used to store the security deposit?
Security deposits will stored in Ethers (ETH), meaning that users are required to be in possession of Ethereum wallets and ETH tokens in order to use the services provided by castleCoin.