During the last few years, the wealth gap in all countries has increased. This means that the rich are getting richer, and the poor are getting poorer. Additionally, world events like the pandemic, changes in the job market, and rising inflation and devaluation of money, have exacerbated the issue. Wealth inequality initially affects only the poorest, but it damages the whole economy in the long run. For the sake of the global economy and everyone’s well-being, efforts need to be made to increase everyone’s access to wealth.

Homeownership is a crucial pathway to building wealth and narrowing the wealth gap. This is thanks to the price appreciation that real estate has almost anywhere in the world. In fact, the current rising of home values does benefit existing homeowners, but this makes newcomers unable to afford a house.

However, ask anyone today, and you’ll realise that there’s been a drop in homeownership since the last economic recession. This drop has been felt across all age groups and countries.

This is troubling news as it puts the younger generation at greater economic risk and possibly needing to depend on government financial aid or being unable to retire when the time comes.

Thankfully, there is light at the end of the tunnel. Recent technological advances–specifically, decentralised finance (DeFi) and the blockchain– are a brand new way of helping people to climb the property ladder.

Let’s see how a property investing pioneer based in the UK is improving accessibility to property investment and trying to narrow the wealth gap. It works by allowing investors to get involved without worrying about the increasingly expensive deposits or the lack of affordable homes — tackling the wealth gap head-on.

Bricktrade

Bricktrade is a pioneering platform that is revolutionising the purchase of property through the DeFi system and the blockchain. It is the first one in the UK, and it is setting an example on how to reduce the wealth gap through technology.

Bricktrade’s innovative solution facilitates access by allowing the tokenisation of real-life assets, increasing the market’s affordability by reducing the initial investment required to only £500. Not only this but by using the blockchain, properties can be accessed anywhere in the world. Although buyers can keep anonymity, there are mechanisms in place to protect all the parties involved in the investment.

Increasing the accessibility to the property market improves the relationship between property investors and property developers, which contributes to closing the gap in the global housing shortage.

Here are the three ways that Bricktrade will help end the wealth gap

Accessibility

The main problem that the property market has worldwide is its lack of accessibility. Some people can afford the increasing house prices seen worldwide; others cannot.

Although access to property hasn’t always been easy, and that’s why mortgages are needed, now people can’t even afford their deposits. Additionally, the state of the global economy has also made it harder for people to secure loans as interest rates are increasing and people are drowning in debt.

Bricktrade’s tokenisation of assets make stepping into the property market something almost anyone can afford–without increasing mass lending or needing funding.

Through the blockchain, any property asset can be tokenised. These tokens represent a portion of the ownership of the property–allowing investors to make a small investment according to their budget and needs. Instead of waiting to pay the total value of an entire property, investors can, through Bricktrade, invest a small amount of money and still gain all the benefits of the price appreciation of real estate.

Tokenisation makes the UK’s fast-growing property market accessible, affordable, and available to all–with no middlemen or expensive fees involved.

Additionally, tokenisation and embracing decentralised finance (DeFI) systems allow anyone on the blockchain to climb the property ladder. No need to be a resident here or there. You only need a WiFi connection as long as you have an ‘address’ on the blockchain and cryptocurrencies to pay for your token–a true borderless system.

Last but not least. This tokenisation of property also lets property developers efficiently raise funds for their property development projects. Thus, allowing corporations, institutions, and individuals to invest in global property developments empowering investors and developers simultaneously.

Accessibility all around, thanks to Bricktrade.

Innovation

Platforms like Bricktrade enable society to change the rules of the game and almost the game in its entirety. People no longer need to buy a whole property, nor do they need to go to a bank to get a mortgage. All can be done through the blockchain, thanks to smart contracts.

Blockchain, smart contracts, and cryptocurrencies are the future for many reasons:

• Speed: transactions can be done within seconds
• Anonymity: no need to disclose who you are to banks or governments
• Trust: a decentralised platform that works based on users’ trust and track record
• Cost: cheaper transactions with no hidden fees

Embracing new technologies like crypto, blockchain, smart contracts, and machine learning allows everyone to have an equal chance at reaping the benefits of investing.

Safety & Security

Letting people safely and securely invest in their future is priceless in today’s world. Missing out on the opportunity of the market can cost people way more than just some savings. It can cost them their retirement, their family’s stability, and even their health.

By placing a platform on the blockchain that allows users to invest in the real estate market, people can be reassured that no scams or tricky fine-print are being used against them.

Additionally, the privacy achieved through blockchain without some prying due diligence lets everyone feel safe and secure when making their investment.

Finally, diversifying your property portfolio brings stability and peace of mind to your investment. Since you’re able to get your hands on some property for as little as £500 through Bricktrade’s cutting-edge crowdfunding platform, you can have your eggs in as many baskets as you want.

In brief, Bricktrade, and its global network of experienced partners, provides accessibility, innovations, safety and security for all property investors–wherever they are and however old they are.

Ready to start making investments in the property market and start closing in on the wealth gap, sign up now.

‍