Hello. Will any of the owners of commercial real estate have kinda controlling interest? It seems a good idea to me.
PropTokens (BSPT) provide a governance function for involved stakeholders to have control over the most important aspects of
the underlying real estate property. The decisions taken may have significant influence over how the investment is managed and the
outcomes it may produce. Governance for PropTokens takes example from Robert’s Rule
of Order 1, but ultimately follow their programmed governance model. Because voting divides a group into winners and losers,
which is not favorable for any collaborative environment, voting is limited to those actions considered absolutely necessary. Most
motions are preset and stakeholders can signal on the subject at any given moment. The main preset motions are:
• property manager change
• revenue stream change
• property expenditure
Stakeholders have the ability to put forward these preset motions by interacting with the respective smart contract. By sending
BSPT to the contract the stakeholder votes a request for change, for the property of the sent BSPT. To abstain means to oppose
the wish to change, meaning no course of action is needed for stakeholders that do not wish for a change. Each stakeholder’s
influence is weighted by the number of BSPT held on the account used to make the transaction and not the amount transacted. The
proposal is accepted by reaching supermajority consensus based on the entire membership i.e. 100,000 BSPT, with a supermajority
threshold set at 60%. When the threshold is met, the change request is put forward.
The process of changing a property manager involves voting on the successor. In an ideal scenario, a commercial property needs
to have a competent property manager at all times. To facilitate the decision-making process for a new property management
company, Blocksquare will act in the interest of the stakeholders and contact various local property managers and present them to
the PropToken stakeholders. A vote is then cast on the presented options where each stakeholder’s influence is weighted by the
number of BSPT held on the account used to make the transaction and not the amount transacted. The property manager that receives
the highest support of the entire membership i.e. 100,000 BSPT is accepted. Blocksquare will then coordinate the transition process
to the new property manager.
For more info see our Whitepaper, page 19.
https://blocksquare.io/assets/pdf/Blocksquare-Whitepaper.pdf
