Zabercoin, a Real Estate Backed Crypto Currency On Ethereum Network
Purchasing property outside the country of residence is not easy. Physical inspection and clear understanding of local rules is a must to avoid litigations in the future. If the property is situated in a third-world country, investors would certainly hesitate to proceed further. Those concerns will be soon put off by the launch of Zabercoin, which provides an opportunity for investing in emerging markets in a secured manner.
Zabercoin is arguably the only crypto currency backed by a physical asset. It is an ERC20 token (enables developers of all types to accurately predict how new tokens will function within the larger Ethereum system) developed on the Ethereum network. Zabercoin (ZAB) represents a share of the property and thus has intrinsic value right from the beginning. The team behind the Zabercoin is planning to purchase properties in South Africa. That will give value to the coin.
Land will be recorded on the block chain, for the first time in the crypto currency history. That will provide full transparency, along with accurate and complete records of every piece of land. Additionally, the network will also store reviews and chain-of-ownership details. The company has plans to expand into rental properties, such as hotel rooms, in the future. The ICO began on December 1st and extends until January 16.