Buy and sell property with crypto.
We have a banking crisis – not a housing crisis
Do you ever wonder why house prices always go up?
The explanation you will most likely hear in the media and from politicians is that we are not building enough homes.
Or that there’s just too much demand. Immigration or foreign investors are usually to blame.
But there’s a much bigger problem that no one is talking about.
Too much money is being created by banks.
A broken system
According to the Bank of England, around 80% of the money in the economy is created by banks when they create loans.
As more and more money is created, prices keep going up. Eventually, homes start to become unaffordable.
The financial crisis showed how unsustainable this system is. But few seem to recognise or want to tackle the problem.
With 1 in 3 millennials predicted to never own a home and Londoners spending 40% of their income on rent, is it time to rethink the financial system?
PropBloc is a crypto building society.
Now, you might have wondered where the term ‘building society’ came from. The clue is in the name. Building societies used to fund the building of new homes for their members.
The first building society was founded in a pub in Birmingham in 1775. Its members would pool their money together each month to build houses for one another.
Eventually, building societies became financial institutions. They would pool the money together from all their savers and lend it out to people who wanted to buy their homes.
This created a virtuous circle that was mutually beneficial to everyone.
Unfortunately, most building societies have now become banks. But at PropBloc we are using crypto to keep this tradition alive.
What is a Cryptocurrency?
Bitcoin is the world's first cryptocurrency.
What does bitcoin do? It's simple. It lets you send and receive value, to and from anyone in the world, using nothing more than a computer, and an internet connection.
How does it do this? It uses a blockchain. Put very simply, a blockchain is an unalterable list that keeps a record of who owns what. The key point is that the list cannot be tampered with. This is because an up-to-date copy is stored on the computer of every member in the system.
Now, why is it revolutionary? Because it provides an alternative way to store value and pay for things that cuts out the banks entirely.
What's happening today? Following Bitcoin's lead, others are now using blockchains to create their own unique cryptocurrencies and NFTs.
That includes us.
Welcome to PropBloc
PropBloc uses the Ethereum blockchain to help property developers build homes, and savers build savings.
Are you a property developer aiming to break into crypto?
Are you a saver interested in building a passive crypto income?
Are you a crypto investor looking for the next big project?
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