We interviewed our Blockchain Zone sponsors about their exploration into blockchain. Here's what they had to say!
Q. Your ITO is being launched this summer, what is the ITO for, can you give us some insight into your exploration into blockchain for real estate? What has been the biggest learning curve for you?
The eLocations ITO (Initial Token Offering) is mainly to raise additional funds (after our successful Phase A seeding round in March) to invest into our platform. The majority of raised funds will go into acquisition of data, namely mobile and credit card data in order to develop our artificial location intelligence for prime location retail properties around the world, as well as developing a contract management solution through smart contracts based on Blockchain technology. We are learning and improving every day, same as the entire industry, where great and positive minds come together on a daily basis.
Q. You are sponsoring our Blockchain Hub at FUTURE:PropTech, what will people learn if they come to visit the zone?
People will in particular learn about the benefits of Blockchain-Technology based Smart Contracts for the Real Estate industry, as well as the chance to meet teh senior team from eLocations and our partners inacta.
Q. eLocations is a retail technology company, what other areas of retail do you see being disrupted by blockchain technology?
Firstly we see a big change in the way retail is being managed through Smart Contracts on the back end between landlords, brokers and retailers. For the shopper we see developments such as the ICO from https://shopin.com, which will bring advantages to the front and the consumer.
Q. Where do you see blockchain technology helping the real estate industry the most?
It will introduce hitherto unseen efficiencies right across the industry, globally. It will speed up processes, make contracts more secure and will deliver transparency in a currently offline and opaque market. It will facilitate contract management in general.
Q. eLocations – what can proptech startups learn from your success? Do you have any advice for people entering proptech?
We are ourselves operating only one year and would not classify ourselves as being successful yet, but we have made many great steps in our development.
We can say, that we see a huge potential and a big shift in the real estate industry through these new technologies, so new players in Proptech should always be aware about the latest trends and devlopments.
Q. Does eLocations have core brand values? If so, what are they?
We have established a clear vision and company mission. When it comes to brand values, we would like to stand for servicing (retail) real estate players (landlords, retailer and brokers) with the most accurate, informative and transparent information to make everyone benefit from this. Furthermore, we want to serve our customers with best in class contract management utilising the infinite potential of the Blockchain.
Q. What are your top favourite publications for proptech?
We are big fans of the new EG title “Tech”
Q. Are you currently hiring? If so, what kind of people are you looking for?
Yes, we are currently expanding our IT side of the business, which will be crucial to our success.
In general we look for young and hungry talents which have the potential to grow within our expanding company.
Q. Can you give us 5 great things you have learnt through setting up your ICO?
1. Brainstorm, brainstorm, brainstorm… The best concepts are developed as a team.
2. Expect the unexpected
3. Customize the “product” in the best way to serve your customers and investors
4. Keep the messages about your ICO short and simple
5. Be modern, but never forget that you are launching a financial product, which needs clean and secure backing
Be sure to meet the eLocations and Inacta Teams at the Blockchain Zone at FUTURE:PropTech!