The problem that this ICO is meant to solve is that of land purchase and sale transactions not being properly recorded and reliable.
With the risk of these important documents being corrupted, forged, altered or in some other way changed or lost, this project aims to give a greater deal of peace of mind to property owners.
By using Blockchain technology, a trustworthy, transparent record can be stored of every transaction.
In the case of this ICO, the pre-sale of tokens will run from September 1 to September 15, 2018. The public sale then starts on October 1 and continues until October 31, 2018.
We can find out what this ICO covers by taking a look at the White Paper and the website.
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LAND LAYBY OVERVIEW
Token: HRBE tokens
Hard Cap: $350 million
Payment Methods: ETH. Bitcoin and other virtual currencies through integrated 3rd party software on platform
Total Cap Size: 500 million HRBE tokens for sale and 500 million held in reserve
Private Sale: September 1 – 15, 2018
Public Sale: October 1 – 31, 2018
This ICO focuses largely on the African real estate market. However, a lot of the problems that they want to solve (corruption, lack of access to reliable paperwork etc) are also present in other parts of the world as well.
The plan is to use the immutable nature of the Blockchain to provide a way of giving a trustworthy place to store land purchase details.
Once a purchase / sale is recorded on here the information will be available for everyone to see with no fear of the information getting changed by anyone else.
This decentralized platform will allow everyone to record property purchases and sales with complete transparency.
The platform’s native token will be used to provide access to users.
Project Use Case
The White Paper that has been put together by this team lets us understand what the proposal will really mean for the eventual users.
After registering and buying coins, users load in details of the transaction in question and the system ensures that it is uniquely registered.
Land Layby Team Overview
We can see on the Land Layby site that a global core team consisting of 11 members has been put together to bring this idea to life.
The leader, Peter Tole, is Founder and Chief Innovation Officer.
A look at his LinkedIn profile tells us that he studied in the University of Nairobi and has been behind Land Layby since 2014.
Other team members that are listed include Co-Founder and Chief Financial Officer Phyllis Tole, Business Compliance Advisor David Njuguna, and Business Advisor Victor Asoyo.
The list of job titles that have been filled also includes Chief Technology Officer, Project Manager, and Lead Blockchain Developer.
The team is also bolstered by the addition of a Kenya team, a Ghana team, and a UK team too. There are also currently 4 Advisors listed on their website.
These are Legal Advisors Daisy Munene and David Coleman, Technologist Bogdan Fiedur, and Cyber Security Advisor Dan Litwak.
How Does The Token Work
The HRBE token is ERC20 complaint and this will be the utility token that is used to access this platform.
500 million of these tokens will be sold, with the initial price set at $0.70 per coin.
These coins will then be used to carry out different transactions, as well as to allow access to the platform in the first place.
It is worth noting that only 50% of tokens will be sold. Of the other 50%, 26.25% will be held back for the “producers” and 23.75% as a team reserve, which seems to be on the high side.
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How The Investors Make Money
As is generally the case with ICOs, investors will be hoping to see this platform grow in popularity as more people look to use its services. This will typically lead to a rise in the value of the coins, as they become more sought after when more people need them.
There don’t appear to be any incentives to early investors once the main ICO stage kicks off in October.
Opportunities & Risks
It is good to see Blockchain technology being used to solve real-world problems like this.
The area of land registration is something that causes lots of problems, especially in developing countries where corruption and other issues can make it extremely difficult for people to register their properties.
If we look at the risks, it seems likely that the possibility of regulatory changes is among the biggest fears for this ICO.
The Land Layby White Paper also lists a number of other risks that are worth reading into:
They include the risk of hacker attacks, possible lack of interest in the platform, and rival solutions coming along.
ICO SIGNALS :
The idea behind this ICO is worthwhile and could be highly beneficial to a lot of people.
There is a lot to like about it.
For instance, there is a definite need for a platform like this and it is something that is ideally suited to Blockchain technology.
There is also a big team from diverse backgrounds working on it.
If we look at the negative issues, then a question mark has to be raised over why such a high hard cap has been placed on it.
It seems difficult to justify selling 500 million tokens at a price of $0.70 each.
There hasn’t been too much of a buzz about it yet, which makes us wonder whether they will be able to generate enough interest to sell enough of the tokens for this event.
It is very much a case of wait and see whether this ICO manages to build up a head of steam in the run-up to the public sale of tokens.