Bitrent ( as suggested by its name ) is used within the housing industry altho it’s use it far more applicable than just paying the rent. They aim to unite relevant parties and lower the entry barrier in the early stages of construction to create an affordable and accurate pricing estimation. It also allows parties to become involved in an investment opportunity regardless of geographical location.
Transparency within any development cycle is incredibly important, There are fundamentally import deadlines and an update to date understanding of the current situation is critical to the shareholders which are involved with the project.
The Bitrent platform allows shareholders to vote and participate more actively in each stage of development by allowing them full information and understanding on an ongoing basis. This feature will be more prominent when Bitrent has a fully developed platform which will incorporate RFID tags giving real time updates on progression.
Bitrent is a young platform, ICO ended less than 12 months ago ( March 2018 ). While the ICO performed relatively well and has a promising team behind it there is still a lot of work to be done from here in order for there to be a working product that can compete with the current model of the construction industry.
Bitrent potentially could turn the construction industry on its head given how easy they claim to make entry into what is currently a very costly barrier. The end product Bitrent have envisioned will be an amazing accomplishment for the team and could really see some results that open up investment opportunities to the general public. With the performance of the ICO this could be a very promising company. Eyes on Bitrent!
