Alright guys, how could this work? Stocks represent ownership in a company. How can a token do that without being regulated like a stock?
Also what platform you think theyre gonna use to launch this smart contract? Im thinking they will use either Ethereum or Cardano
I was thinking maybe they would use Jibrel Network to tokenize the assets but theyre talking about smart contracts.
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They gonna use their own token
666 5th ave
trump/kushner
have at it
Lol and normies laugh when I told them stocks, property. everything will be tokenized in 10 years
Vornado Realty Trust
>Here you go you stupid faggots HOTEL COIN. It entitles you to absolutely nothing but maybe someone will buy it off you in future for more than you paid for it? That's the kind of shit you like right? Thanks for the cash dickheads
Maybe something like that user idk
"On 12 February 2018, Vornado Realty Trust, which owns 49.5 percent of the tower, said it doesn’t plan to keep its stake in the building for long."
The company also owns:
100% of Oakdale Mall in Johnson City, New York
70% of 555 California Street (30% is owned by affiliates of Donald Trump)
100% of Merchandise Mart
32.4% of Alexander's
32.5% of Toys "R" Us[1]
~43–47% of 666 Fifth Avenue (~53–57% owned by Kushner Companies)[2]
of what benefit is this token to an investor? its as if they are trying to re invent the wheel and throw in a token but its just the same old shit
Kushner Companies LLC is an American real estate developer and lender in the New York City metropolitan area.[1] The company's biggest presence is in the New Jersey residential market. It also owns the Puck Building in New York City. Its founder, Charles Kushner, was convicted of tax evasion and witness tampering in 2005, and served time in federal prison. As a result, he handed over the management of the company to his son Jared Kushner.[2]
A study published in December 2017 by Bloomberg News indicated that Kushner Companies owns a stake in over 60 buildings in New York City.
The company owns properties in Long Branch, New Jersey[22] as well as nearby Monmouth Mall, which Kushner acquired when it fully purchased the non-management joint venture with Vornado Realty Trust that owned the mall.[citation needed]
Kushner Companies has received multiple loans from Israel’s Bank Hapoalim.[23]
Kushner Companies "received a roughly $30 million investment from Menora Mivtachim" in 2017.[24] It was spent on "a Maryland development."[25]
Modum will be the first big digital share it will probably use the NEO platform
n December 2006, the company announced plans to buy 666 Fifth Avenue for $1.8 billion, the biggest deal to date for an individual building in New York City history.[5] In early 2007, Kushner bought the building for US$1.8 billion, the highest price ever paid for a single office building in the United States.[6][7] Four years later, rising debt forced Kushner to hand over 49.5% of the ownership of 666 Fifth Avenue to Vornado. Kushner had planned to demolish the existing structure and build one twice the size; Vornado's Steven Roth stated that this will not happen.[8]
Kushner since shifted focus from his New Jersey real estate operations to the New York market. In July 2007, the Kushner Companies sold 17,500 apartments in the states of New Jersey, Pennsylvania, Delaware, Maryland and New York, valued at $2 billion.[9][10] Before that sale, the Companies had employed approximately 800 people.[6]
In August 2011, representatives from the Kushner Companies made a presentation to the Perth Amboy Redevelopment Agency proposing a scaled-back design concept for the Landings at Harborside, a residential development set to be built along the city's waterfront, and allowing rental housing instead of owner-occupied units as originally planned. The plan, which would have saved two historic Perth Amboy buildings, was endorsed by Mayor Wilda Diaz, quoted as saying, "Too many sites have been torn down. Let's restore them and use them for other purposes." She further said that Kushner sketched a concept for the courthouse that was incorporated into the redesign.[11]
It's a tokenized security. The future for all non brainlets out there. Imagine one global stock exchange with all the liquidity that comes with it.
On July 5, 2013, Kushner Companies signed an agreement to purchase a five-building complex in Brooklyn, New York, formerly used by Jehovah's Witnesses, for $340 million. The building is 95% owned by CIM Group.[12][13]
In the 2010s, developers such as the Kushner Companies widely used the EB-5 visa to fuel a "high-end US residential boom".[14] In May 2017, President Donald Trump renewed the visa program in his first major piece of legislation.[15]
In 2016, Kushner Companies opened Trump Bay Street, a luxury 53-story apartment tower in Jersey City, New Jersey.[16]
The Kushners partnered with a company linked to Beny Steinmetz on the $250 million project, which was financed through a $30 million cash investment by the Kushners and $190 million in loans, including a $140 million construction loan from CIT Group and $50 million of investments from Chinese nationals purchasing EB-5 visas.[16] By June 2017, the building had reached half occupancy and was valued at up to $360 million, leading the Kushners to seek $250 million in refinancing.[16] Jared Kushner retained his interest in the building after becoming senior advisor to President Trump, his father-in-law.[16]
In 2017, Nicole Kushner Meyer joined her brother Josh in Kushner Companies, serving as a principal.[17] Meyer was criticized for mentioning her brother's White House position during investor presentations she gave in China when soliciting $150 million for 1 Journal Square, causing her to cancel the rest of her roadshow appearances.[18]
According to Bloomberg, the company is facing an increasingly "distressed situation". Over the last few years, family members have sought substantial overseas investment to deal with "troubled finances".[19]
September 2017; U.S. Attorney Subpoenas Kushner Cos. Over Investment-For-Visa Program.[20]
In 2017, the United States District Court for the Eastern District of New York subpoenaed Deutsche Bank records pertaining to Kushner Companies.[21]
Just imagine how much simpler this could make the whole transaction process. Whats the point in spending thousands on lawyers to write up a contract, getting real estate agents to oversee that contract and then getting banks to handle the transaction when you can directly barter with a buyer and have them buy the ownership of the for sale property or object in dollar valued tokens.
With projects like tabby pay (link at the bottom) the risk of using cryptos is declining too.
Yeah Im all in on JNT but he's certainly not referring to JIbrel Network, even if this is a good indication that Jibrel is on the right track. My money would be on Ethereum
also imagine being able to see if theres any issues with the property deeds. Ownership is so clear and transparent with this system. You'll never buy a property and be surprised after the purchase that its leasehold or that 15% is signed to some old woman
DONALD TRUMP DROPS $400 MILLION ON FORBES BILLIONAIRE LIST
o'leary says $400 million dollar hotel deal with a very recognizable brand?
Do you think Trump could launder money from Russia by selling shares of his hotel in coin offering format?
of what benefit is this token to me as an investor? if i want a stake in this property i can already do it
Someone would have to be very egotistical to care about public appearance enough to make it back onto Forbe's richest list.
decentralized feeless exchange instead of waiting for your broker to front run you before selling your shares
>of what benefit is this token to me as an investor? if i want a stake in this property i can already do it
It allows them to be held as a security and easily sold on a streamlined global scale. Cuts out all the middlemen. The blockchain will allow one global stock exchange.
>> Heeerr Derrr I already have a newspaper why I need internet?
>what use is a car? I already have a horse and buggy
why the fuck would someone keep or hold something to buy something and have random coins of everything they need like medicine, healthcare, gas, food, movies, games, and shit?
LMAO and you normies believe crypto and eth dead.
Newsflash the only viable smart contract platform to make this on is ETH
mostly for securities.
Why rely on a broker who will only give you access to 1/10 exchanges when you can use a tokenized system that gives you better fills, transparency, lower fees, and access to any market you want?
Great minds think alike my friend.
now we are getting there. the whole world and his mother are attempting to obfuscate and blind investors to play the same game as before by tokenising everything. 90% of this shit is a non starter and will fail. pets.com all over
99% chance it's ETH, no reason for them to use chinkshot or something that hasn't seen mass adoption already.
Ideally all securities or securities of virtually identical mechanics can be reduced to a single token. It's like having different contracts on healthcare, insurance, stocks, etc. but much easier.
If you cant see it yet then IDK wait a few more years when it starts happening and becomes more obvious. Protip Bancor is ahead of eveyone
yea with 40 lines of code
It's possible they are going to announce that it's going to be on EOS when it launches.
It's possible if O'Leary bought a lot and wants to pump it.
Yeah that sounds like Kevin. He is all about making money.
the headline says Issue a Coin, so they probably plan to issue their own until some other news comes up. y'all need to thank kevin oleary, he probably just saved the crypto market some misery.
it says issue a coin to act like a stock. so it will be a token that represents your part of the hotel stock. i cant imagine they would risk the token being tied to the value of another crypto, i dont think hes that kind of businessman. it will be far more like a traditional stock offering, just using crypto for the technology. the SEC will be there to ensure that the token is backed by real FIAT and that holders cant get left holding worthless bags, that will be the smartcontract part - to ensure that the token translates to off-chain holdings without becoming monopoly money.
seems like it would be smart to keep an eye on these types of deals. if the smartcontract ties the token to fiat or some other asset or holding, most coins that dont have this feature will eventually become worthless over time if this starts to get adopted. this kind of "anchoring" method - where the smartcontract ties the token directly to owning a % of something of value off-chain could be a big deal in the future. its far more comfortable for normans to visualize what the value is when its tied to shit like buildings and real estate and companies with products. i wonder what drumpf thinks about crypto? if all of these smartcontracts are used to tokenize offchain assets, i wonder if the US govt are the ones that guarantee certain tokens as legal tender in the future. we would kind of be back to fiat at that point, though. USD $ 0.002 EOD -
XUSD $1 EOD