Real Estate Cooperative Dao

[Canalytic]

Platform for Collective Ownership of Real Estate - Fractional Ownership, Cooperatives

• [ ] _ My name is Mateo. I am inventor and writer, academically trained in philosophy, originally from US, I spent last 7 years in developing countries (Argentina, Brazil, Kenya) trying to figure out how to leverage blockchain tech for social good. I know a bit of solidity, but am better at big-picture abstract thinking than detailed coding.
• [ ] _ I am researching projects in Blockchain space, most interested in DAOs and real estate, and cryptoart, but also try to follow the infrastructure development.
• [ ] _ Simon de la Rouviere told me about the Ethereum crowdsale at a Bitcoin Conference in South Africa
• [ ] _ Am based in Berlin, and attended EthBerlin last year, was part of a team that won a prize from Gnosis

Idea description

What is your idea? Give as many details as you possibly can.

The background of the idea can be viewed here: It would essentially allow owners of real estate to whitelist addresses and sell fractional ownership of their real estate. The bigger idea is to create a platform that allows both real estate owners and dwellers to customize and deploy a contract suite to suit their needs. The project is inspired in large part by Radical Markets And the idea that space can be better utilized via an auction system, which additionally will allow people to be more mobile, and actually share via p2p, versus "sharing" through a central entity. I say dwellers (instead of renters) because the overarching goal of this project is to reorient the dichotomy of home ownership / renting to something that makes more sense for urban environments where there is lack of affordable housing, and this terminology is borrowed from Doma project.

A further step after the MVP is to either create DAO functionality within the platform or plugin to other DAO-stacks (Aragon, Colony, Dorg, DaoStack) to get Cooperative ownership of buildings, or rather more that the buildings autonomously owns themselves and are managed through dwellers that participate via the smart contracts and DAO. The same way Nathan Schnieder talks about having a way for tech-startups to IPO into cooperatives (becoming working owned), there are a lot of buildings with aging landlords where the renters can step-by-step gain more equity in the building over time, without having to resort to go to a bank for mortgage. Similarly the landlords can divest their real estate holdings piecemeal while continuing maintenance and upkeep without being forced to sell to large property management conglomerate.
_ There are a lot of 'low-hanging' fruit bounties we can go after, since obviously full implementation of the project in 3 days is imposible.

• 3Box - Most Social Application - Housing Cooperative
• 3Box - Best Overall 3Box Integration -User Names for Addresses
• Raiden - IoT Challenge - Unlocking a Door for Short-Term Rental

A simple implementation could look like this:

`Implementation One:

Legal (legacy) Owner of Real Estate wishes to open up her property to fractional ownership.

• sign Tx to create contract

  • Owner has functionality to whitelist other potential owner’s addresses. • Owner has also functionality to limit ownership on offer (e.g. to maintain 51% ownership if desired)1 • Token creation event

Whitelisted address wishes to purchase percentage of ownership.

• sign Tx to become member of contract

  • After being whitelisted member sends ETH to contract in order to receive fractional ownership of contract • A percentage of ETH goes into the tax and maintenance fund. • Member receives ‘ownership’ tokens equal to the fractional percentage of of ownership she has invested. • Member receives ‘use’ tokens equal to the fractional percentage of ownership she has invested. However this tokens have viability period of 365-days and if not used within time frame they are destroyed by the contract.

Owner or Real Estate (51%) wishes to pay taxes or maintenance with contract funds.

-sign Tx to withdraw ETH from contract to pay taxes maintenance (this could maybe be implemented on Aragon).

• Upon approval process, the request funds to pay taxes or maintenance are moved out of the contract to 

Owners wish to book use of space.

-sign Tx to book space per day. Contract must query calendar, and price owners pay can be discounted with ‘use’ tokens.

• Calendar displays unbooked days
• Whitelisted addresses can book days by paying required booking price
• Before sending TX book, option to discount price with ‘use’ tokens will be available in booking dashboard.

Owners wish to withdraw ownership.

-sign text to withdraw ETH originally invested.

 • Users original ETH investment is returned 
• Existing ‘Use’ tokens are evenly distributed to remaining members
• The Tax and Maintenance portion of originally investment is not returned to user.  If the balance of Tax and Maintenance fund is over threshold a portion of the funds can also be evenly distributed to remaining `members.`

Skillset

What skills do you need, or think you might need to implement the idea?

• [ ] Core Blockchain Development (Go, C++, Rust)
• [ X] Smart Contracts (Solidity - and specifically someone who can do test-driven development)
• [ X] DApps, Web3.JS (JavaScript, CSS)
• [X ] Design, User Experience
• [ ] Project Management
• [ ] Game theory
• [X ] _Any lawyer or people in Real Estate Industry, specifically Germans who are familiar with genossenschaft laws

Communication

• [ ] Riot handle: bendicion

[gabrielfior]

Hi Mateo, I found this idea quite interesting. I could help with the smart contracts part (Solidity, Vyper - not an expert but can implement things). Moreover, a colleague could implement the JavaScript part. I will write you a message on Riot.

[wslyvh]

If you plan to integrate with Raiden, check out the client I just build for the Grow Ethereum hackathon. https://github.com/wslyvh/raiden-api-client

I'll be around all weekend, if you need help with it.

[sepu85]

Hi there! I would love to help wit the Product Design, UX and Project Management & GT

[romanoing]

Hi Mateo, I write you on Riot.