Recoin - The First Ever Cryptocurrency Backed by Real Estate



  • About REcoin

    REcoin is an upcoming cryptocurrency backed by secure real estate investments in the world’s most advanced economies. It will allow investors from all over the world to convert their currency and savings into stable inflation-proof cryptocurrency. REcoin is founded by humanitarian and entrepreneur Maksim Zaslavskiy

    REcoin is a new cryptocurrency alternative designed to accommodate a wide range of financial transactions and investment goals. Its security is ensured through the use of one of the soundest and most reliable currency backings there is real estate.

    Many of those who are looking to invest their earnings face the dilemma of putting their savings into low-interest rate bank accounts or lacking other investment alternatives due to a lack of liquidity.

    No real commodities back the world's widely used currencies. Real estate backs REcoin in countries with a developed and stable economies such as the United States, Canada, the U.K., Japan and Switzerland.

    How does REcoin work?

    The liquidity of the currency can increase in at least two ways: through the steadily increasing value of the real estate investments that REcoin is used for, and a higher REcoin value when the demand for REcoin rises. The management of the REcoin supply and its security is guaranteed by the nonprofit membership organization REcoin Group Foundation. Any REcoin holder can obtain membership in the REcoin Group Foundation only by identifying his desire and agreeing with the Foundation rules. REcoin offers its users an easy and intuitive buying and selling process, and furthermore, it is designed to be easily used as a currency alternative for a full range real estate transactions and services.

    Who will use REcoin?

    REcoin holders are not just users; they are also investors. REcoin offers a different mode of payment for online real estate transactions. The most common REcoin users are defined below: Anyone in the world can purchase REcoin to convert their country’s currency into stable, real estate backed cryptocurrency. Tenants/buyers and sellers of real estate will be able to use REcoin for their real estate acquisitions and rental agreement payments. Licensed brokers will be able to rely on REcoin as an alternative financing method and incorporate it into their daily practices and agreements. Service providers such as lawyers, developers, architectural firms and other services related to the real estate industry will be able to use REcoin to purchase or sell their services.

    REcoin guarantees

    REcoin offers several guarantees to its users:
    The latest user-friendly cryptocurrency tools conveniently secure the REcoin Wallet.
    New technical and economic solutions will be developed for the benefit of REcoin users.

    The 101REcoin Trust

    The 101RecoinTrust is designed to ensure that all investment activities will be in the interest of REcoin holders and centered around the most profitable forms of real estate.

    REcoin is led by an experienced team of brokers, lawyers, and developers and invests its proceeds into global real estate based on the soundest strategies, including:

    • Investment into properties with a stable income, short sales, foreclosures and real estate development in the world’s leading economies.
    • No dividends are paid out to any beneficiaries, meaning that 100% of the net profit from REcoin is reinvested into real estate, minus expenses, and maintenance.
    • The society of REcoin holders control the cryptocurrency and vote for any investment decisions that have the potential of affecting 5% of REcoin’s market value or more.

    Mining

    The mining process is designed to reward the REcoin society miners who build the blocks that are required to create REcoin’s blockchain while distributing the majority of the funds to the 101REcoin Trust for reinvesting into real estate. A progressive formula is used to program annual mining with increasing annual mining rates. The stronger the REcoin mining society is, the greater the emission of coins will be. A total of 999x10^9 coins will be emitted through the mining process over the course of 50 years. Funds emitted during the mining process are proportionally distributed as follows: 16 

    1) 83% to the 101REcoin Open Trust to be put toward further real estate investment

     2) 15% to REcoin miners

     3) 2% to charitable organizations

    REcoin smart contracts

    As one of its most important features, REcoin utilizes smart contracts which are implemented from Ethereum, the most widely used secure smart-contract platform. Smart contracts are algorithms that facilitate, automate, verify or enforce financial contracts. They are designed to reduce the traditional costs and time associated with developing and enforcing contracts through the use of automatically enforced contractual conditions. In the world of real estate, smart contracts can be used to ensure that payment terms, service fees or liens are paid for once the contract is executed. Smart contracts allow for crypto currencies like REcoin to be safely used as working capital for real estate transactions. The ability to create smart contracts in real estate is a unique feature of REcoin. The REcoin smart contract is an online legal instrument that helps customers rent or purchase commercial and residential property without the need for legal counsel.

    REcoin sidechains

    The availability of REcoin sidechains will allow for the cryptocurrency to be creatively utilized by entrepreneurs and developers as an investment tool for the benefit of society. With approval, investors or developers can use sidechains to create their cryptocurrency within the REcoin platform. It allows REcoin to be moved onto another platform for experimentation with new cryptocurrency rules, for the creation of smart contracts, customized transaction visibility, or other innovative business projects. Because they exist as a subset of the REcoin ecosystem, sidechain assets are interdependent with REcoin’s valuation and liquidity. A commission will be created that will only select and approve REcoin sidechains for carefully planned business projects.

    The availability of REcoin sidechains will allow for the cryptocurrency to be creatively utilized by entrepreneurs and developers as an investment tool for the benefit of society. With approval, investors or developers can use sidechains to create their cryptocurrency within the REcoin platform. It allows REcoin to be moved onto another platform for experimentation with new cryptocurrency rules, for the creation of smart contracts, customized transaction visibility, or other innovative business projects. Because they exist as a subset of the REcoin ecosystem, sidechain assets are interdependent with REcoin’s valuation and liquidity. A commission will be created that will only select and approve REcoin sidechains for carefully planned business projects.

    Technical Specification

    Ethereum cryptocurrency code is used, which means the following options:

    1. Use of blockchain technology.
    2. The possibility of mining (using the proof-of-work protection method).
    3. The ability to create and use smart contracts.

    The technology of blockchain proved itself as perhaps the safest way of keeping records of transactions performed within a certain society, each member of which owns a copy of the database distributed among members of the given society.

    Blockchain - a chain built from the formed blocks with records of all transactions. A copy of the Blockchain chain or its part is simultaneously stored on multiple computers and synchronized according to the formal rules for constructing the chain of blocks. The information in the blocks is not encrypted and is available in clear form, but is protected from cryptographic changes through hash chains. Thus, the Blockchain database is distributed (decentralized) and cryptographically protected (https://en.m.wikipedia.org/wiki/Blockchain).

    The possibility of mining, which gives the use of the methodology of protection against false data and fraud PoW, is by far the most widespread and reliable crypto currency in the environment.

    A proof of work is a piece of data which is difficult (costly, time-consuming) to produce but easy for others to verify and which satisfies certain requirements. Producing a proof of work can be a random process with low probability so that a lot of trial and error is required on average before a valid proof of work is generated (https://en.bitcoin.it/wiki/Proof_of_work).

    The minimum unit is 10^-4, or 0,0001 REC.

    The conclusion of the block will occur every 20.5s (Similar to the Ethereum software environment, https://bitinfocharts.com/en/ethereum/ ). The block volume limit is 12 KBytes.

    Discount scheme:

    • The first 10, 000,000 REC - 15% discount, 1REC = 0,85 $
    • The first 15, 000,000 REC - 12% discount, 1REC = 0,88 $
    • The first 20,000,000 REC - 9% discount, 1REC = 0,91 $
    • The first 25,000,000 REC - discount of 6%, 1REC = 0,94 $
    • The first 30,000,000 REC - 3% discount, 1REC = 0,97 $
    • Further sale is carried out at the rate of 1REC = 1 $

    Buy Recoin:

    REcoin Social Orientation

    Creators of ReCoin consider charity an important part of the existence of ReCoin society.

    The right to charitable assistance is provided by:

    1. Charitable Foundation Live Love Laugh Global, 2% annual mining.
    2. The largest world charitable organizations, 1.5% of the transaction commission (0.15% of each organization):
    3. Regional associations of charitable foundations that distribute grants in their region - 6 associations, each proportion is proportional to the population of the region, 4%:
    • Asian association of charitable foundations - there are 59,6% of total Earth population, share of comission - 2,5%.
    • African association of charitable foundations - there are 16,6% of total Earth population, share of comission - 0,8%.
    • European association of charitable foundations - there are 9,8% of total Earth population, share of comission - 0,5%.
    • Latin American association of charitable foundations - there are 8,6% of total Earth population, share of comission - 0,45%.
    • North American association of charitable foundations - there are 4,8% of total Earth population, share of comission - 0,2%.
    • Regional association of charitable foundations of Oceania - there are 0,1% of total Earth population, share of comission - 0,05%.

    Regional associations of charitable foundations will be managed by boards of directors, each of which will be selected based on his experience in this field, personal qualities, a vision of the work of the association and an understanding of its needs. The function of regional associations will be to distribute the budget by providing grants to charitable organizations for specific programs and projects.

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