Fairbnb - Students entering the property market

Students generating credits (and system) leveraged by volunteering organisations; community & various edu. networks.

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Airbnb does not own any properties -- and because of that many of you students can not buy one either… I will assume that you have some idea on what is going on here.

I am a part time teacher; business owner; recognised outstanding volunteer (by Lifeline and Volunteering Tasmania); a bit of an inventor; university (Utas CXI) collaborator and find time to run an accommodation business for students... Over the years students helped me to buy 8 properties (they helped me to pay the banks nearly AUD$2,000.000.- in interest alone). I am 55 now and instead of keeping buying properties, instead of sending money to the banks…. what about if the students help me building a blockchain system for property -- so they can own the bricks and mortar instead and/or blockchain tokens… this is how:

A property can lose or gain value depending on the tenant’s attitude, and that is how I started to wonder if tenants had a stake on it all. Also I always wanted to do something socially worthwhile... property is a micro-society and micro-environment.

(Slide - Blockchain bubble diagram schematic)

This is an opportunity for students to own a Strata Title, tap into capital gains and build up resources towards a deposit into a larger property later. Students can convert rental payments into blockchain credits. They can add value to the system and to the blockchain tokens through Smart Contracts. Thus myself and partners will focus on the system, on a number of properties -- whilst the property ownership can be passed to students.

We start by allocating to every tenant student 1,000 tokens (worth $1,000) -- they can unlikely lose it due to lack of cooperation or they can earn + add value to tokens: _ by doing property work & maintenance; _ by volunteering in their area of studies; _ by raising funds to volunteering projects; _ by promoting the system; _ by developing the system…….

I co-own Scholars Hall. It is under refurbishment and was formed as a trust and strata - so students can have:

_ the title to their ensuite for example; _ they can manage and micro-host; _ they can sell and earn capital gains;

By living with the person we get to learn the person’s character - we can develop a voting & credits system.

We can bypass many overheads and transactions costs by using Smart Contracts.

Students have their own networks for promotion, we can leverage with academic networks; volunteering, cultural and professional networks.

I have been a landlord for nearly 20 years. By working with students and holiday accommodation, I now understand well how Airbnb has been one of the main disruptors in the marketplace. FairBnb offers an alternative in a true share-economy - whilst facilitating students to buy into property. Blockchain (with Tokens + Smart Contracts) technology offers the transparency and security required to develop Community Trust.

(Slides of proposed refurbishment)

Students can add blockchain credits to their accounts by: looking after the property; helping other residents; producing furniture items; raising funds to volunteering organisations for their (studies related) field of work; inviting interstate visitors to collaborate as volunteer at discounted rate (room-share); vacate the room during the holidays to allow tourists to book.

As the students help developing the system, adding value to it and to the pool of blockchain tokens -- the real estate component can be transferred to their name. Initially we can save transferring costs; stamp duty etc by using Blockchain Smart Contracts. If a few students are uncomfortable with Smart Contracts, they can register strata title on their names (at their costs).

Property ownership has always been the Australian dream. The dream has been disrupted by technology -- now technology can disrupt it back.

(Slides to the end)

Blockchain and Smart Contracts technologies are quickly becoming very popular among students and is promising to develop trust whilst minimising bureaucracy, overheads, inefficiencies and transactions costs. We are proposing to develop Students' Strata with the new technology. We need to raise funds to start developing a robust Blockchain and Smart Contracts system... a platform for students; volunteering organisations and members of the community who aspire for a more equitable world.

Built With

  • hyperledger
  • web3
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