Homebloc recognizes that to do business you must create value. And of course, a home has value. Joshua Peng, a doctor in civil engineering, often told the following joke: “Elon Musk and NASA are marching straight into Mars real estate, but we still can’t afford a suite on Earth”. Despite it being a joke, this statement addresses several social issues. Peng, after designing buildings for New York’s top architectural firm, recognized that many people cannot afford their own home. He and many others in the housing and construction industry, can’t even get the chance to own or invest in a building they helped create. In America alone, more than 70 percent cannot even afford a home. And given the recent 2020 pandemic, that number continues to rise. So, in May 2018, Homebloc was first established in China.” can you change that to “So, in May 2018, Homebloc established a China office.
Homebloc’s main goal is to help consumers in real estate investments, and thanks to several investors, their goal is underway. Unfortunately by 2019, their numbers began to dwindle. So, the team began brainstorming. They had noticed it was rather difficult for blockchain projects to raise money through tokenization alone; and after making this observation, the team realized they had a golden opportunity on their hands. From that day forward, Homebloc would use blockchain technology to change how we perceive real estate. They decided to fight for housing property and income rights by utilizing security tokens. To start, Homebloc thought to map the value of the real estate to a blockchain. Furthermore, they thought it was essential to help break up the total value of the real estate through tokenization. By creating fractional ownership, it reduces an individual’s investment and makes it more manageable. As a result, real estate investment is no longer for the select few. Through Homebloc, anyone can invest despite their income.
Of course, Homebloc’s goals are met with a few obstacles that vary from country to country. For example in China, property rights are limited, but the owner has the right to possess, utilize, dispose of, and obtain profits from their property. Homebloc ensures that, along with maintaining the integrity of property rights utilizing space operation, breaking up the value through tokenization so that ordinary people can participate in the real estate industry.
Homebloc’s Hotel Model
But how does Homebloc truly change real estate investment? How are they making real estate investments more accessible? Well, Homebloc has decided to first look into hotel management. To understand hotel operations, founder Joshua Peng participated directly in hotel negotiations; he went through the process of customer service, finding good and bad results. He also participated in a hotel industry youth camp, where entrepreneurs interacted with each other and learned different hotel models. With this new-found knowledge, Peng built his own 3 level talent structure. And got the main team to develop a hotel booking app for operations in China. Through this app, individuals can join members and make contributions to get corresponding points ( ie. tokens). After achieving enough tokens, members can utilize them to book hotels or sell their rights and more; this helps feed the blockchain ecosystem and makes investment easy.
Today, Homebloc also uses its existing resources to establish an alliance with 7 or 8 hotels in Shenzhen. Homebloc helps them carry out standardized operation and management, and in return, this initiative allows Homebloc to build its membership point system. This way, through hotel operation, they solve listing problems and earn income, achieving profitability.
Besides, Homebloc has acquired its hotel brand to implement a blockchain. When successful, future living standards will change dramatically, and any company will be able to replicate Homebloc’s model across the globe. Currently, Homebloc is still testing its model on 2 resorts located in Zhuhai. There are a total number of 45 rooms, but renovations are taking place in hopes to have a total of 50 rooms. This could be a huge milestone for the company as it addresses ownership and rental efficiency.
To conclude, Homebloc’s founder Joshua Peng believes this issue is global and is willing to cross borders for many individuals to have the chance to invest and own real estate. Just a few years ago, the company was mainly focused on blockchain-related matters, but now that the company has secured appropriate funding, Homebloc is now focused specifically on hotel management. The company is goal is to adopt appropriate solutions to the big main issues which are currently in practice. As of right now, Peng cooperates with external parties who are experts in the hotel industry and continues to expand his network.