Vernon J., a real estate investor, and entrepreneur is on a mission: EquityCoin(TM), (EQTY) to make it easier for investors to invest in real estate. It is the first token that uses a blockchain to support affordable housing.
Vernon believes EquityCoin can help more communities of color to build wealth through real estate investment.
Vernon says that the integration and application of blockchain technology in the real estate financing sector is the key to closing America's racial wealth gaps, which have more than doubled over the past four decades. Blockchain technology allows for a reduction in the minimum investment amount, opening up new opportunities that were previously unavailable to many Americans.
Blockchain to Create Affordable Housing
Vernon has worked in multifamily realty for more than 15 years and has facilitated transactions worth over $50 million. One moment, in particular, changed everything. Vernon rented a unit to a mother who was living in a shelter. Vernon was able to see the problems of homelessness from a different perspective. Vernon chose to do something and make a difference. EquityCoin was founded in 2021.
Vernon released a statement saying that Vernon gave the keys to her apartment and she wept with joy after I had given them. "That feeling of fulfillment was inexplicable and it was then that I realized my purpose in life was to help thousands of families in need."
EquityCoin was created to provide affordable housing for marginalized communities. Vernon hopes to revive urban areas across the country by combining the benefits of blockchain technology and his experience in affordable housing.
How it works
Real estate is one of the best asset classes for building wealth. It's also one of the most liquid assets. Real estate property can take weeks, or even months to be converted into cash.
EquityCoin solves the problem. Instead of having to navigate a 30-day closing, the exchange period can be reduced to just 12 seconds. Users can access instant liquidity by tokenizing on the blockchain. This is a revolutionary shift in the transfer and ownership of real estate properties.
According to the website, EquityCoin was designed to have the following characteristics.
- To grant EQTY holders the right to property cash flows
- To be freely transferable without restriction
3. To enable legally recognized ownership of real property
EquityCoin's decentralized approach to affordable housing will revolutionize real estate financing. EquityCoin will also offer a way for Black and Brown communities to get involved in wealth-building.
Vernon says that EquityCoin will promote a new sharing economy by allowing community members to have fractions of income-producing property in the cities they live in.