OpenBrix joins the UKAA camp as members

OpenBrix is the only decentralised property portal in the world that connects all key players in the property letting market on a single public community blockchain platform. A network like never before and a platform that a Build to Rent Landlord or their agent can control!

The concept of OpenBrix commenced in June 2017 and was dreamt up by Shahad Choudhury and he soon surrounded himself by a strong team. The platform was launched in May 2020 and the team currently numbers over 20 individuals, headed up by Adam Pigott as the CEO. Adam was the founder of CHK Mountford, one of Surreys leading Independent Residential Letting agents, for 25 years and after selling to Countrywide PLC, he subsequently went on to join MakeurMove.com and become a Founder at CreditLadder.com. Adam joined OpenBrix in November 2018 and he added various other key members to the expanding team to include former Countrywide Lettings, ARLA Director and NFOPP Director John Hards FRICS FARLA.

Many people ask what Blockchain is and what can it be used for. The concept of blockchain is to connect specified people or groups together without centralisation but with full transparency and to enable transactions to be recorded in immutable form. It was first noted historically as being used in the Yapp Islands as far back as 500AD to state and agree trading prices on a large stone tablet held at the main trading island. Each trader, visiting the island, would be given a copy of that tablet in a smaller form to keep with them. Written in stone and everyone had a copy. An immutable record of the prices agreed and took away the lack of trust each trader had with each other. Transparency! So blockchain today is fulfilled by a community linked all together on a single community network without the need for a god-like server to handle every aspect of data to be fed through it. Blockchain is merely the roadway for connecting people and agreeing a trade or transaction with each party involved in that specific and chosen group. Every party invited into that group sees what is agreed. Like a giant WhatsApp group! So, by using OPENBRIX, the Corporate Landlord, their agent, their tenant, their supplier and contracted partners can all interact directly and transparently to, say, administer the the moving in for a tenancy, the maintenance reporting and fixing, the rental payments, the check out process and all aspects of administration etc. Only the people in this group would see this of course. This speeds up the processing of these various tasks and does so without precious data being captured and used for monetisation purposes, as is often the case. Something that tenants are starting to demand. Tenants get to keep a record of their validated rental payments, a ledger for them to keep. How? The ledger is kept on the blockchain, written in stone in you like. Blockchain offers transparency and gains trust for those involved in the processing.

 

OPENBRIX

  • A low-cost innovative property listing portal that innovates and connects Tenants to a property directly and all under your control.
  • Build To Rent Landlords on OpenBrix can also connect their tenants to various suppliers (or their chosen bespoke partners and suppliers) to facilitate a slicker, transparent, and more cost-effective manner and benefit from any introduction commissions. All under the control of the Build to Rent Landlord or their chosen agent.
  • Good tenants on OpenBrix can start to generate an immutable record of payments for their credit scores. Offering tenants, the chance to have their prompt rental payments help them, in the future, to obtain a better mortgage offer, better credit or indeed credit where there was none can only be a good thing. It also incentivises tenants to pay their rent on time as late payments may likely negatively affect their credit scores. These rental ledgers can be “white labelled” to suit a UKAA member if requested.
  • Tenants and Buyers on OpenBrix can use easy to adopt ‘moving-in’ services from the OpenBrix Network, to include verified Right to Rent, Referencing and more.

OpenBrix gives value to Corporate Landlords, their chosen Agents (if applicable), Tenants and Suppliers, the entire industry benefits.

 

OpenBrix offers the BTR industry the ability to offer their Tenants a sovereign Identity by allowing them to pre-verify their Right to Rent and hold copies of any of their personal documents on their own device. The tenants can keep an immutable rental ledger, a record of validated rental payments and have these read by Experian and Equifax to influence and improve their credit histories and credit scores. An ID of important value and rightly owned by the consumer and not by anyone else.

View The OpenBrix 2020 Brochure