Hello everyone! Today, we’re here with Jakob Drzazga, the CEO of Brickblock and he will explain to us more about the Brickblock project.
- What makes Brickblock different?
Brickblock is the first project of its kind to connect its asset-backed tokens with legal contracts. If you own a token, which we call a Proof-of-Asset token, you are legally entitled to the profits of the underlying asset. I am not aware of any other project that has established a legal framework for asset-backed token transactions on the blockchain.
Furthermore, we are one of the few blockchain projects with a working product (our blockchain-connected alpha version was released in October 2017). At the end of 2018, we also plan to release a market-leading asset-backed token exchange built on the 0x protocol. Brickblock is more than just an idea or whitepaper – we have a committed team of 25 full-time employees who are working to build the future of investing.
- It is interesting that Brickblock has a complex token structure, with three tokens. What can you tell us about them?
Yes, Brickblock’s ecosystem contains three tokens: Brickblock tokens (BBK), Access tokens (ACT), and Proof-of-Asset tokens (PoA). Each one plays a specific and important role in our ecosystem.
Brickblock tokens (BBK) can only be bought during our ICO. BBK can be activated to generate Access tokens (ACT) or deactivated and traded on exchanges.
Brickblock charges a 0.5% fee for every transaction. This fee is paid in Access Tokens (ACT). 1000 ACT will be equal to the value of 1 ETH. When fees need to be paid, the asset’s smart contract sends buy orders for ACT, which are generated by activated BBK tokens. BBK holders who have activated their tokens receive the buy order can then sell the ACT for Ether.
Proof-of-Asset tokens (PoA) are what the investor buys. Every asset sold through Brickblock’s smart contract platform issues its own unique PoA token. PoA tokens legally represent all the economic benefits of ownership.
- How is the ICO going so far?
Well, it starts on May 9th, but we expect it to go very well. We have a lot of momentum ahead of the ICO, including 5 million euros of funding from a European VC, which was announced today. Our community has grown by more than six times in the past few weeks and we are almost ready to list the world’s first tokenized real estate asset. I think our community recognizes the important of delivering a product before starting an ICO, which is why we have structured our ICO the way we have.
- How do you plan to expand the portfolio of assets?
We have already signed letters of intent with firms around the world to tokenize more than $1 billion USD worth of assets. Asset providers essentially use our technology to tokenize their portfolios.
Brickblock offers an attractive financing solution for developers and managers looking to fund their project – access to a global market, a frictionless investment process, and quicker settlements.
- What can you tell us about the team?
We have a highly specialized team of 25 full-time employees from 17 different nationalities. Our leadership team consists of:
- Jakob Drzazga, co-founder – real estate developer with more than 10 years experience and a staff of 20
- Martin Mischke, co-founder – co-founder of some of Europe’s top blockchain companies, including Bitwala, Bits & Coins, and Transistor Coworking
- Jeff Woodward, Director – 25+ years in real estate, during which he has secured investments totalling more than $900 million USD.
- Colin Nimsz, Head of Organization and Finance – U.S. attorney, founder of UVEST, Counsel at Lionsgate
- Philip Paetz, Chief Technology Officer – previously Digital Expert and External Advisor at McKinsey
- Manuel Gonzalez Alzuru, Chief Marketing Officer – formerly Head of Mobile Marketing for Jumia (Orange, Rocket Internet, Goldman Sachs’ African unicorn) and CMO at Medlanes (Axa and Microsoft)
- For young companies that are thinking about going through ICO, what advice would you give them?
- Always deliver on your promises, especially when it comes to product
- Do your legal due diligence
- Carefully consider the token economics
- Make the contribution process as simple as possible
- What are the future plans of Brickblock?
We have a very busy roadmap ahead. First, we will start the final period of our ICO on May 9th. Shortly after, we will facilitate the transaction of the first tokenized real estate asset. We also plan to offer the first tokenized investment funds by the end of the year, as well as develop an asset-backed token exchange built on the 0x protocol. Finally, we plan to integrate a fiat currency payment gateway.