MHub – Closing Gaps in Property Sales
The NEM blockchain needs more real-world use cases to highlight its versatility as a business-focused smart asset platform. MHub sets its sight to be the best real-estate platform in Asia with the NEM blockchain at its backbone.
MHub wants to become a one-stop platform for all transactions, providing an avenue for stakeholders of the property industry to communicate, network, and trade within the ecosystem. Their mission is to accurately track property transactions, streamline communication between stakeholders, and be a smart asset platform. Their main goal is to be a NEM-powered platform that can be launched quickly and be immediately accessible in Malaysia and the whole Southeast Asia.
Owning a property can both be rewarding and tedious at the same time. It takes a lot of time and effort to own property. Here are some reasons why it takes longer for property to be owned:
Double-Booking (Unit availability and pricing)
Loan Application status
Borrowing power (Buyer’s credit worthiness)
Manual tenancy agreements
Title transfer process
MHub is a platform that closes gaps in the property sales cycle. It directly connects the transactions between property sales, estate agents, and bankers. Furthermore, it simplifies, speeds up, as well as saves cost with these three features:
Showroom – this feature is a solution for the problem in double booking. This feature also makes the work easier for the sales team.
Credit check – this solves the problem of borrowing power. This enables the developer to easily check the credibility of the buyer by checking their accounts, such as CTOS, CCRIS and DSR within a minute
Loan tracker – this feature solves the problem in loan application status. Once the booking is made, the buyers are referred to the bankers immediately with MHub’s loan tracker.
How these features work:
Bankers can easily update their loan status.
It only takes a few minutes to make bookings in other devices such as cellular phones and tablets.
Buyers can make payment on the spot to secure their spot.
Banks can make offers immediately upon confirmation of the buyers’ credit.
The advantage of MHub is that it will significantly reduce the turnaround duration for any property title transfer process into less than a day. The stakeholders involved in the property transactions will highly benefit from the savings in costs. In addition, it also envisions the verification of proof of property ownership, while best offers Sellers and Credit providers can be reached in minutes, resulting in a robust real estate marketplace.
MHub ECOSYSTEM AND DEVELOPMENT PLAN
Phase 1: Minimum Viable Product Development & Launching (Completed)
Phase 2: Product Enhancement & NEM Adoption (Q1 – Q4 2018)
Phase 3: Tenancy Management & Smart Contract (Q4 2019 – Q2/Q3 2019)
Phase 4: Regional Expansion & ASEAN Story (Q1 – Q4 2019)
Reference: NEM FORUM
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