Contracoin is a project that facilitates international real estate business via blockchain technology. According to the website, Contracoin is a global real estate platform powered by blockchain that allows real estate agents, property developers, and brokers to get exposure to the international real estate market. The project also seeks to open the world to buyers of property with cryptocurrencies by providing them access to international properties and intending them to pay for such properties through its native cryptocurrency.
Contracoin’s vision is to provide property ownership readily available to the masses worldwide. According to the whitepaper, overseas transactions are occupied with several challenges. Such challenges include a lack of direct access to foreign banks suitable for the transaction and government restrictions on such transactions. Such cross-border payments also incur substantial transaction costs and delays in receiving funds. Thus, to tackle all such issues, the Contracoin project intends to offer technological solutions that can streamline the whole transaction process.
The project is backed by a virtual barter network established by Cfontracoin’s parent company Contracard. The project strives to develop a global real estate platform. The project also intends to create a marketplace. The project enables users to use the Contracoin token, an ERC20-compatible token, to purchase real estate internationally. By way of such technology integration, the project seeks to provide users with fast, secure, and cost-effective transactions. The project uses Ethereum smart contract to eliminate manual errors and assure security and transparency during documentation.
The Contracoin cryptocurrency is the native token of the project. It is a utility token used for purchasing property around the world. Along with CTCN, the project also developed a stablecoin named AUDC, which is pegged to the Australian dollar. AUDC is used to make payments and deposits for Australian properties and to avoid the volatility in cryptocurrencies in global exchanges.
