The ROCATI Limited project starts with the creation of a new cryptocurrency based on an Ethereum ERC20 smart contract. It aims to promote the possibility for anyone with problems accessing credit or obtaining a mortgage from a bank to buy a residential property.
This technology can revolutionise the real estate sector because it maintains a traceable and completely indestructible register of transactions. Blockchain technology will add liquidity to the real estate market, make it possible to carry out buying and selling transactions differently and is applicable to any type of global reality.
To develop the project, 50 million ROCATI have been created – 10% of which will be retained as the company’s business asset fund. During the ICO phase, a total of 45 million tokens, each worth one euro (€1.00), will be launched onto the market. The initial coin offering will last for 100 days and will offer the opportunity to purchase ROCATI using Ethereum exclusively.
ROCATI, therefore, makes away with the expense of mining and fixes key points for the issue of more currency onto the market; ROCATI will only be issued against a real estate transaction and the tokens generated will be managed, on a fiduciary basis, directly by a notary public who will guarantee full transparency in relation to the buying and selling operation, signalling the transaction directly on the blockchain.
During the issue phase, ROCATI can only be transferred to servant notary public, offering the markets a currency closely linked to a tangible asset: real estate. At the time of drawing up the deed of sale, the seller can change the cryptocurrency received into fiat currency through ROCATI Limited or adopt one of a series of alternative options, these being changing the currency within exchanges, keep the currency in their wallet or carry out other real estate transactions.