Real estate investor and entrepreneur Vernon J. has a mission to democratize real estate investing through the introduction of EquityCoin ™ (EQTY). It is the first digital token on the blockchain to be supported by affordable housing. Vernon believes EquityCoin is a solution to helping more color communities build generational wealth through real estate investments.
“Integrating and applying blockchain technology to the real estate finance sector is the solution to narrowing the racial gap in the US, which has more than doubled in the last four decades,” says Vernon. “By fractionating and tokenizing assets, blockchain technology is reducing the minimum investment size, opening up new opportunities that most Americans previously had no access to.”
Creating affordable housing through blockchain
Vernon has been in the multi-family real estate industry for over 15 years, enabling transactions valued at over $ 50 million. But there was one powerful moment that changed everything: renting a unit to a single mother who lives in an animal shelter. This opened Vernon’s eyes to the problems of homelessness on a different scale. Rather than sit back and watch the inequalities around him, Vernon decided to take action and promote opportunity for all. EquityCoin was born in 2021.
“When I gave her the keys to the apartment, she cried with joy,” Vernon said in a statement. “That sense of accomplishment was inexplicable, and at that moment I knew my goal was to help thousands of other families in need.”
EquityCoin was created to provide quality housing to marginalized communities. By combining the capabilities of blockchain technology with its affordable residential experience, Vernon hopes to revitalize urban areas across the country.
How it works
Real estate is one of the most promising asset classes out there when it comes to building wealth. But it is also known as one of the illiquid assets. It can take weeks or even months to convert real estate into cash.
EquityCoin solves this problem. Instead of navigating to a conventional 30-day deal, the exchange period is reduced to 12 seconds. Tokenization on the blockchain gives users access to instant liquidity. This is a breakthrough shift in real estate transfer.
According to the website, EquityCoin was created with the following characteristics:
1. To grant EQTY holders rights to real estate cash flows
2. Be transferable to anyone without restriction
3. Facilitating legally recognized property ownership
With this decentralized approach to affordable housing, EquityCoin plans to revolutionize the real estate financing apparatus. In addition, black and brown communities have the opportunity to participate in the wealth creation process.
“EquityCoin will advocate a new sharing equity economy by giving community members the ability to own fractions of income-generating properties in the cities they actually live in,” says Vernon.