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Brickblock review

Brickblock is a German cryptocurrency project founded by Jakob Drzazga and Martin Mischke. The project was announced on April 18, 2018 on the forum. The main focus of the project is on the development of the tokenized assets in the real estate industry. The development team of the project aims to build a technology that would be compatible with the legal frameworks of various countries and be easy to use for investors. The core business process of the company looks in the following way:

  1. Real Estate projects are securitized and listed on the platform
  2. Investors are getting through anti money laundering (AML) and know your customer (KYC) policies to gain access to the tokenized securities of the projects
  3. The investors fund the project
  4. The investors gather their share of profits via tokens that represent their part of the investment

The Brickblock platform offers its users an opportunity to trade their securities at any time of day. Investments are not restricted in durations and can be hold long-term and short-term, providing the users with advanced flexibility. The platform also allows worldwide investments, offering users the right to purchase their share in real estate all over the world.

Blockchain-based structure of the Brickblock network reduced the middleman costs. The blockchain network can simultaneously act as a repository, financial system and database.

The project establish partnerships with some prominent and successful ventures. Some of them are:

  • Jaxx, cryptocurrency wallet. It is one of the most popular digital wallets on the market.
  • The company called solarisBank. SolarisBank specializes in financial technologies
  • The venture capital firm called Finch Capital. Finch capital is a multinational firm that invests in the insurance, finance and cryptocurrency sectors.

Brickblock coin price

The price of BBK token or Brickblock coin is always chaining, however, BitcoinWiki gives you a chance to see the prices online on Coin360 widget.

Brickblock tokens

The Brickblock network implements 3 types of tokens. They are: Brickblock tokens (BBK), Access tokens (ACT) and Proof-of-Asset tokens (POA).

BBK token

Brickblock token is the token that was used to gather the initial funding for the project with the initial coin offering of the Brickblock project. BBK is a ERC-20 standard utility token that was developed to power up the Brickblock network.

BBK has a total supply of a little over 265 million tokens. Initially, 500 million coins were produced, but all the unsold tokens were burned. The token distribution was made as the following:

  • 51% of the total supply was publicly sold
  • 35% of tokens are reserved by Brickblock with a 3-year lock-down
  • 13% were sold to the private investors and early supporters
  • 1% is used to fulfill the bounty program

BBK tokens is operating in two states – activated and deactivated. The deactivated BrickBlock tokens are available for an exchange. Activated tokens are called Access tokens and are particularly what makes BBK tokens utility tokens of the blockchain.

Access tokens

Access tokens (ACT) are implemented to cover the fees of the network. All the BBK tokens have in-built smart contracts to generate ACT from the activated BBK tokens when a fee payment is required. BBK that were used for this operation continue to be active in a user’s wallet, they are not spend during the transaction.

Proof-of-Asset tokens (PoA)

Brickblock’s Proof-of-Asset tokens are representing particular assets registered in the network. When the new project is added to the network, the token-based investing stage starts. At the time of this stage, PoA are distributed to the project’s investors. While being store in the investor’s wallet, PoA represents the right of its holder’s ownership over the newly registered asset. In other words, PoA tokens are used to ensure the right of a customer to get his/her part of the profits made with the particular asset. PoA are available for trading, exchange and selling.

BBK token is traded on the BitMart cryptocurrency exchange and the IDEX exchange.

Brickblock ICO

Brickblock ICO was performed form May 9, 2018 to May 16, 2018. The fundraising goal of 50 million United States Dollars was established but only 12 million were gathered.

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