Rent increases have become a significant issue in the real estate industry.
The United States, one of the world’s largest countries, was reported to have experienced a 9.6 percent increase in rent in the first six months of 2021.
With the effect of the COVID-19 pandemic on businesses and the world at large, these increases do not appear to be going away anytime soon and would hurt people’s finances across the globe.
The model currently used in the industry is one of the major causes of this rent inflation.
The traditional real estate industry model has given rise to several flaws that wealthy property owners take advantage of to exploit low-income renters.
This article will look at EWO Place, a real estate tech company based in the UK, and how it intends to address some of the issues currently plaguing the real estate industry.
EWO Place: Disrupting The Real Estate Industry
EWO Place, founded in late 2015/early 2016, intends to replicate what low-cost airlines did in the travel sector by providing its users with access to low-cost housing, demonetizing real estate, and creating a pathway for people to live free of mortgages and exploitative rents.
EWO Place intends to create a community-first real estate club for flexible living by utilizing blockchain technology.
EWO’s vision is to disrupt the current state of the real estate industry to provide its users with access to a conducive living environment while also reducing exploitation in the real estate industry.
All transactions on the EWO place platform are conducted using their native token, EWO token, and eliminates the need for traditional modes of payment such as fiat currencies.
EWO token has a total supply of 101 million and can be purchased with fiat or exchanged for Ethereum directly from its app.
EWO Place also included a buy limit on its native token, preventing whales from amassing and also preventing the traditional pump and dump mechanisms associated with cryptocurrencies.
EWO Place’s Unique Features
Users on EWO’s platform pay only for what they use, not for their stay, thanks to the #CancelRent feature.
EWO allows users to stay in comfortable locations for as long as they want, with only minor expenses such as light bills and other basic house amenities required.
Furthermore, simply purchasing and staking EWO tokens allows users to earn passive income by earning high yield rewards from properties used by others.
Staking rewards are accumulated and paid out every week. With the #LiveLocal campaign, EWO place hopes to revitalize struggling communities by establishing sustainable micro-economies that benefit the locals and businesses in the areas where EWO place operates.
EWO’s is unique cause it provides value to its users as well as the communities in which they operate.
EWO Place creates a unique ecosystem that is ultimately rewarding and fully decentralized to all parties involved by bringing new people into dying communities and improving the rental experience of users.
What Is the Future of Real Estate?
Despite being a trillion-dollar industry, the real estate industry would be doing more harm than good if it did not address the current issues plaguing users in that sector, the most serious of which are exploitative rent and unfavorable living conditions.
EWO Place, a blockchain-based startup, aims to use blockchain technology to revolutionize and decentralize the real estate industry while trying to kill rent