Proof is an online property investment marketplace and property investor powered by blockchain technology. Proof’s work is to find and acquire discounted but high-yielding properties, and offer them for sale to its community as a crowdfunding process. The particularity is that the minimum ticket for participation is low: $1. Thus, everyone, even with small means, can invest in a project they find interesting.
With its marketplace, Proof tries to lower the barrier for people with lower and medium income, making investment in real estate accessible for everyone. The main goal is to democratise the economy by making investment accessible to people without large means. In fact, currently, only a select few with high net worth can actually invest in real estate, which requires a lot of capital. With Proof, users can begin slowly, and raise money step by step.
Like every platform running on Blockchain, Proof’s marketplace is decentralized, and transactions are managed using smart contracts, eliminating the need for third-party intermediaries. Proof allows users of the platform to sell the assets they possess independently at will through the platform. A seller will issue many smart contracts for the total value of his asset, which users of Proof will then be able to buy. More precisely, Proof has built its technology on the Assurance Market Protocol (AMP) in order to help its users to make a good choice of investment. The AMP has several useful features.
Firstly, a user, candidate-investor, can see how much he is insured against a loss by the issuer (the one who brings the investment). In fact, thanks to AMP, the issuer can be insured by his closers or his associates, and even by other users of Proof who strongly believe in the project. Then, the same user can also see if there are speculators who bet against the project, and how much. It can indicate that the offer is fraudulent or too weak. For reassurance, a user can also control the ratings of the issuer. In fact, AMP allows users to give a credibility score to every issuer, and even to write reviews about past investments. Finally, AMP allows the users (speculators) to insure the asset (and to receive interest rate) or to bet against the project.
Also, a big part of the Proof project is to avoid the high volatility of Etherium, which can deter investors. That is why the tokens will be pegged to government-issued fiat currency (like crypto-USD or crypto-EURO) to protect investors from price fluctuations of the denominated currency on investment. Moreover, users will be able to to change their Proof tokens into crypto-fiat like USD or EURO or into cryptocurrencies like Etherium or Bitecoin, by way of Proof itself.
The company makes money by the spread on cryptocurrencies and on the conversion rates. In the future, Proof wants to grow its network, and plans to offer more enterprise tools for brokers and financial institutions, which could be a new source of revenue.
The Proof community is comprised of about 3,000 users. It is a small, but active community. The quality of its infrastructure is going to grow: Proof is currently building an infrastructure that can scale to thousands of transactions per second. They already have a functional platform and lots of tutorial videos around.
Proof has some competitors on the Blockchain, which also allow users to invest in real estate trough cryptocurrencies. The first is Rex, which has built an active community, maybe a little larger than Proof’s. There is also Primalbase, which had a successful ICO conducted at the end of June. However, there are a lot of detractors of their model, saying the founders aren’t clear about the legal issues. There is also Brickblock, which allows participants to invest in real world assets like ETFs and Real Estate Funds – although it is not a direct competitor, it is a growing company and could one day take on Proof’s market.
50% of all proceeds raised will be placed in the Crypto-Euro and Crypto-USD smart contracts to capitalize the issuances of the fiat-pegged tokens (in order to reduce the volatility of the tokens). Another 15% of revenue from token sales will be leveraged by Proof to issue bounties towards the further development of Ethereum blockchains to support the move towards scalability. The remaining 35% of the token sale proceeds will also go towards the core operations of the Proof platform as well as the full decentralization of the entire Proof application ecosystem.
Proof was founded in 2016 by Mike De’Shazer, David Van Isacker, and Tai Kersten in Seoul, South-Korea.
Mike De’Shazer: Currently CEO and co-founder, he is graduated from Harvard University in Information Technology. He has significant experience in blockchain technologies and has previously founded several startups.
Tai Kersten: CTO and co-founder of Proof. He has significant experience in the field of Python code, and has a Bachelor in English Literature from the Montana State University.
David Van Isacker: CIO and co-founder of Proof. He is graduated from the Ecole des Mines de Saint-Etienne with a dual master in engineering and management, and has a Master in Engineering from the National University of Seoul.
Alex Chong: Market Researcher at Proof.
Jason V. Holmes: VP, consumer acquisition at Proof.
Tobias Disse: Currently chief strategist at Proof. He has some experience in the field of blockchain technologies and is the co-founder of a startup dedicated to blockchain solutions. He is graduated from the UC Berkeley College of Engineering.
Joseph Yoo: COO, General Counsel
Amir Hashmi: Europe Biz Dev Lead
Alex Lee: VP, Intellectual Property
*Disclosure – At the time of writing, Cryptorated staff owned no Prood tokens.
Interested in deeper analysis – Proof?
Currently CEO and co-founder, he is graduated from Harvard University in Information Technology. He has significant experience in blockchain technologies and has previously founded several startups.
CTO and co-founder of Proof. He has significant experience in the field of Python code, and has a Bachelor in English Literature from the Montana State University.
CIO and co-founder of Proof. He is graduated from the Ecole des Mines de Saint-Etienne with a dual master in engineering and management, and has a Master in Engineering from the National University of Seoul.
Market Researcher at Proof.
VP, consumer acquisition at Proof.
Currently chief strategist at Proof. He has some experience in the field of blockchain technologies and is the co-founder of a startup dedicated to blockchain solutions. He is graduated from the UC Berkeley College of Engineering.
COO, General Counsel
Europe Biz Dev Lead
VP, Intellectual Property
Oct. 8th, 2017
Nov. 1st, 2017
2,362,062 Proof tokens, 50% of which are for sale
Approx. $25 million
0.088 ETH per Proof token
|Holding of Funds||
50% by the company itself
|Technical White Paper||
The Proof whitepaper is very complete. It focuses on Proof’s business model, and even more on the technical details. The long-term vision of the society is also really present, and is a big part of their corporate culture.
The team is nice, available for every questions, seem competent and especially believes a lot in its project.
Ethereum, AMP smart contracts
N/A. Planned to be open source.
All financial activity within the Proof network, including insurance prevision, etc.
|Token as Asset||