By Judith Jakubovics – BizDev at the Omni/Mastercoin Foundation
In this project, the Delta Business Management wants to embed unique id’s into the tokens to make a strong binding to a deed / contract. Once it will launch, the intention is to scale the business and branch into other forms of assets and property in particular residential markets and capital held in properties. The aim being that asset is more interchangeable giving the owner more flexibility with their wealth.
I would define it as PayTo capability token.
Delta will want to keep tokens to retain their pay to history so the new owners of the contract/token won’t be paid over and over and form a limited fund source. These assets are to be issued manually upon sale.
Customers will apply for Delta ID token. They will apply and send in KYC documentation which will be vetted by Delta Business Management. Once verified a delta ID token will be sent to the clients designated address. Visible in Omniwallet. etc., Once an individual has a delta ID token, they will be able to purchase from the Delta range.
The token holds no personal information and will just be to verify that this individual has passed KYC and is known to DBM, The tokens will be sequential ref designated within the token and all personal information will be kept offline and managed by Delta. Anyone viewing the token via Omniwallet will see DBM ID 001 & DBM ID 002 and so on. No personal information is contained within the total and the identity will only be known by Delta. You will be able to purchase directly from Delta website or directly from the Decentralized Omni exchange – Omni Exchange is scheduled to launch by the second week of January 2015.
So this property tokens will be traded with other members of the delta eco system (ie others who have a valid id token) this means that the properties are interchangeable without the need for estate agents and lawyers. There are procedures in place if someone sells an asset to a non delta ID token holder. The “sendbacks” are stopped until the new owner has obtained their own delta ID token.
All revenue received from the asset will be converted to btc by Delta as the management agent and will be distributed by BTC send outs quarterly providing the Delta terms are met (Delta ID token accompanies the asset).
If people no longer want their property managed by Delta they can either send the token back to Delta to redeem for the title deeds from UK land registry or, they can initiate the break clause in the original contract and receive a full refund (option available after 5 years).
Delta sees exciting opportunities with projects like factom.org (Factom is born on the Omni/Master Protocol) to be able to break the existing storage and parking assets into smaller pieces for small investors build up their portfolios. This would not be possible without projects like Factom.org getting around the micro payments problem which enables to break it down for smaller investors/clients.
If you want to know more, please visit http://www.deltabusinessmanagement.com/
Great things are happening to the Omni/Master Protocol
Point of contact for companies and organizations who want to issue a token (Judith Jakubovics) Judith (-at-) Mastercoin.org
and on Skype: Judith.Jakubovics