Familia

They say don't invest in Bitcoin, be safe and invest in real estate. We bring you both.

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Inspiration

The real-estate industry of India currently is the most under-served and inefficient industries of India which involve various issues like less liquidity , less availability and corruption . We provide a disruptive solution based on blockchain technology

What it does

We intend to tokenize and divide all pieces of commercial land into publicly available tokens/shares under blockchain that will be available to the market for investors . Once a project get's approval , a builder can tokenize his property and sell it to the open market . This provide him/her liquid to cover his/her loans and overdue payments and also publicly evaluate his/her property before evaluation. In such way a normal middle class person can aspire to own real-estate in high end markets as an investment thus providing capital flow in a cash-restricted market . The value of the tokens is directly linked and proportional to the value of the real-estate and thus also provides us with insights on the direction of the economy .

How we built it

We used MapMyIndia - Nearby, Geocode API & Mapbox for interacting with map. The blockchain app was developed using Rest API and was hosted on Azure (Azure Web App service). User requests were fed to the map and nearby & distance matrix api returned the parameters on which the token's value is evaluated (weighted). This data is then fed to a payment gateway where Tokens can be easily bought. Volley API was used for integration of REST API with Android. QR code were used for token generation and their payment using Zxing API.

The technical stack as used was mainly based on JAVA, Node.JS, JSON, HTML and CSS.

Challenges we ran into

1 . Blockchain is not currently recognized by the government , hence has currently less application , soon once it is regularized this shall disrupt the real-estate

  1. Implementation of payment gateway which was later solved by using third-party wallets
  2. It took us time to go through Azure documentation , once thorough with it we were able to do it .

Accomplishments that we're proud of

  1. Our solution is disrupting and revolutionizing the current real estate market in a positive way bringing in more liquidity
  2. We are enabling a common middle-class person to invest in high-end commercial space in long term
  3. We are solving the problem of lack of liquidity in the real estate sector.

What we learned

  1. Government regulations are very important in the ecosystem for the success of the project
  2. Design matters a lot in the acceptance of the project by users

What's next for Familia

The project can be used to solve the problem of delivery of government services . For eg in 'Pradhan Mantri Awas Yojana ' is an initiative by Government of India in which affordable housing will be provided to the urban poor with a target of building 20 million affordable houses . Since all the houses can't be delivered at once , we can provide the beneficiaries with tokens like this and will give a hard-asset to bank upon to the beneficiaries

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