HOMT - Marketplace for Student's Rental Accommodation Using Blockchain

We all know that cryptocurrency world is vast and we need some time to understand about it. If you follow my posts, you should understand more about bitcoin now because i talked about what bitcoin is on one of my previous article, when it was created, by who, why it was created, etc. We should explore cryptocurrency more, because we won't be satisfied with just knowing more about bitcoin, right ?

Ok now, the most popular cryptocurrency coin is Bitcoin, no doubt, and the second popular coin is Ethereum. Ethereum was created by Vitalik Buterin and team, released in 2015. It has smart contract functionality on the blockchain, enabling the user to use scripting language for developing the application.

Token

Token is the most often thing we will find on Ethereum blockchain. Although there is token in other coin too, but i believe Ethereum is the first coin that issuing token and other coin using Ethereum base concept to create or issuing the token on their blockchain.

We may often hear about token in crypto, but my question is, do we really know about what token is ?

Token in Cryptocurrency is a digital asset that issued by the coin. In Ethereum network, there are several token type and we have ERC-20 token which the most popular token type in Ethereum blockchain.

Tokenization

So, do you already know about tokenization ? We have explanation about token above and now we are going to discuss about tokenization

What is tokenization ? Tokenization is a method or a way to convert your asset into a digital token. Lets go to the deeper understanding with a real example. The owner of ABC Company has total assets about $10,000,000 and want to sell the company. Some parties are interesting to buy the company, what should the owner do ?

The owner no need to split the company into several parts, they just need to tokenizing the company assets. With tokenization, they can convert $10,000,000 worth company assets into for example 10,000,000 token. And now they can give the interested party some amount of token according to their share, for example party A : 5,000,000 token, party B : 3,000,000 token, and party C : 2,000,000 token. Then in the future, the profit of the company can be split to the buyers proportionally according to their amount of token.

Tokenization has become a catalyst and accelerator for startup project in cryptocurrency. We can see many ICO has been created in Ethereum blockchain, companies collect their capital fund by tokenizing their company share and holding token sale.

One of the tokenization benefits is transparency. The ownership of the token is recorded on the blockchain, everyone can see it. For example, you know that party A have Ethereum address that holds 5,000,000 amount of token.

Well, now we know that tokenization can bring benefits to us. One project that utilizing tokenization on their project is HOMT. What is HOMT Project ?

HOMT LTD

HOMT is a Marketplace Platform that provides properties to be rented by students around the world. The project basically tokenizing the rented properties on marketplace, making it easier to rent by students without troublesome or long term lease, and giving investors the opportunity to investing on the tokenized properties.

HOMT Key Features :

Students Rental - Students can find their accommodation with the best price without intermediary fee
Utility - Various services for students who holding HOM token
Market Place - Interactive, Modern and Advanced Marketplace for students who want to find their home with just few clicks
Facility Management - Provides Comprehensive Services for students with best price

The Problems

Why students ? Because students have many problems when dealing with their housing/accomodation.

Several problems that students facing :

Most students can't invest on higher investing limit account
Very crowded queue when student want to lease a room
Lack of currency inherent value like tokens, must using fiat money
Lack of trust between providers and students
Unnecessary Intermediary fees
Lack of transparency in profit sharing
Poor liquidity in traditional properties marketplace

The Solutions

HOMT provides the solution of the problems by provide the benefits :

Provide application where student can lease and receive many utility services with their account
Online Marketplace makes student convenient when leasing
Provide HOM Token which has the inherent value properties reserve and rental activities
Trusted platform because it runs on blockchain and smart contract
No intermediary or middleman fee
Profit sharing is recorded on the blockchain, so it is very transparent
HOMT will provide liquidity by continuous trade of HOM token

HOMT also provides benefits for Investors who interested to investing on the project such as :

Full Transparency profit income, because the data is recorded on Blockchain, anyone can verify
Utilizing Smart Contract in the platform, so it is very trusted and there won't be any disputes
The investment is in the form of tokenized commodities, no unnecessary space like physical form
Token value will increasing when the properties value increase because inherent value
Token can be easily transferred between parties