Recently, Facebook announced their own entry into the cryptocurrency world with Libra. They plan to create a pure cryptocurrency for easy, cheap and quick cross border transactions. This news was met with a mixture of optimism and pessimism by those who have already invested in cryptocurrency projects and want their profits to continue to come in.
While some showed that Bitcoin and some of the major cryptocurrencies have rallied since the news, others predict that other crypto coins that are built to be pure currencies and have no asset backing or revenue generating company backing will fall to Libra’s competition. Their problem is that they just don’t have a large user-base and no way to increase their transactions. Ultimately, users don’t care about technical differences but in convenience. And convenience in payments is driven by which of their friends and visited businesses has the facility to accept the currency and this is where Facebook with their millions of Facebook users and Whatsapp users wins.
BRIKCOIN’S CORE IS NOT A TRANSACTIONAL CRYPTOCURRENCY
While BRIKCOIN will leverage their tenants to create a ready-made user-base in the future, we have decided to start with a solid foundation with our core business of property development. Therefore, from day one, BRIKCOIN will be backed by a solid revenue and profit generating business model.
BRIKCOIN’s core business is in a good position to leverage the much anticipated trend in asset tokenization and security tokenization which experts say will be the future of blockchain in the next 5 years.
This means that we are not trying to be a payments processor and cryptocurrency like Facebook’s Libra. We are not a coin to use just as a currency but we build real homes for people who need it and deliver profits to our valued investors. But, it is very promising to see major companies leveraging the benefits of blockchain for diverse applications, just like BRIKCOIN founders have always envisioned.
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