Founded in 2017, i-House provides a real-estate cloud platform that enables a new way of asset management using blockchain technology. Aiming to create a shared economy asset management ecosystem that spans across the globe, i-House provides real-estate owners, developers, financial institutions, and end-users the means to own and share assets easily. By digitalizing property trading, I-house has not only reduced transactional costs but has also made the process significantly transparent. Their proprietary program includes assets tokenization offering (ATO), a cryptocurrency named I-house token (IHT), and a digital payment system called IHT Pay. In this interview, Ricky Ng, the chairman and founder of i-House shares some insights about his organization and the features and functionalities of their offering.
On What Trends Could impact the Blockchain Technology Solution Arena
In the coming years, blockchain technology solutions will transcend to a greater height. As many are familiar with Bitcoin and Ethereum, I believe cryptocurrency trading, investments in ICOs, and server mining will become very popular. Also, we expect two other major changes in the blockchain arena: property trading using blockchain and applications on blockchain that can facilitate the trade. Firstly, the market is diversified, and there are many smart housing solutions surfacing slowly. So, trading property on blockchain would not only simplify the transaction process but would also be beneficial in the overall development of blockchain. Secondly, due to the increasing volumes of cryptocurrency users, blockchain applications used for trading real estate as well as other kinds of trades would rapidly increase. Keeping these trends in mind, we have designed a platform that facilitates investing, fundraising, marketing, and business operations in real estate.
As the internet and blockchain are all about efficiency, our platform allows users to raise funds or sell their property efficiently
By creating an integrated system, we can split the property and its usage rights amongst the buyers as per their investments.
Trading property on blockchain: Challenges and Mitigating them
We are rebranding and improving our communications handles to help the market understand the nature of our product. I think simplifying the concept can help us launch the product effectively in a short period of time. Also, we are trying to speed up the recruitment process in the U.S. as we want to hire the right talent before we step in. In the meantime, we are focusing on regional property channels acquisitions which can help us grow faster and enhance our operations.
The One-of-a-Kind Solution and its Features and Benefits
Our proprietary platform primarily helps real-estate owners and developers, financial institutions, and buyers to save cost and time involved in trading property. As the internet and blockchain are all about efficiency, our platform allows users to raise funds or sell their property efficiently. Developers can not only use our platform to raise funds but can also use it to promote projects that are under construction. By being able to target the crypto community, users can utilize the platform for marketing as well. Apart from that, digitalization of real-estate ownership helps improve the liquidity of assets, reduces transaction costs and is completely transparent. By being able to fragment large property rights to smaller portions, IHT can shorten the listing cycle making the process seamless.
”Happy Customer” Story
IHT Pay enables general users to buy property across borders. In an instance, we sold a property in Japan to a buyer based out of Hong Kong using IHT Pay. If the buyer had chosen traditional banking systems for payment, it would have taken more than three days to reach the seller in Japan. But, by using IHT which is cryptocurrency, the buyer could seamlessly transfer and secure the purchase on the same day.
Plans for Down the Lane Expansion
Looking ahead, we would like to establish ourselves and invest heavily in major markets such as U.S. and Europe. We are going to recruit talents for all verticals such as product, marketing, R&D, and business development. In terms of technical advancements, we would be launching our smart asset platform which mainly focuses on IoT and asset management.