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Eyeing the potential of collaborative workspace market, Primalbase has launched a one of a kind leasing and booking system that enables its members to buy, rent and resell their membership for acquiring a coworking space for a period ranging between one and 90 days. Notably, the project was funded through a sale of 1000 tokens that was completed on June 27, 2017. As of now, the membership leasing is available for Amsterdam and Berlin offices. And, soon it will be open for the London property.
One of a kind!
The blockchain-based system, Primalbase Membership Leasing, has made renting high-spec workspace affordable and accessible with no administration, deposits or notice periods. And, this makes it shine in the true sense.
It is also the first European company to enable people to buy blockchain-based tokens online to use a workspace. The token holders become lifetime members and can use any Primalbase office across Europe. If and when they no longer need the space, they can further re-sell the token, which is not allowed by other shared workspace providers.
The token owners also enjoy the benefit of making a profit if the value increases whereby allowing the members to garner income from their previous purchases. Further, the token owner has the freedom to set the preferred price and dates when they desire to lease the token. Whereupon, they enter an auction with the lowest price presented to the people. As a result, a desk space could cost as little as one Euro per day, there is also no administration, deposits or notice periods.
How does it work?
The prospective buyers of the token can visit the official website of Primalbase; where they are guided on how to create an Ethereum (cryptocurrency) wallet. The portal gives the buyer a range of dates and offices to pick. Then an algorithm determines the best available and priced tokens for them. By completing the transaction in euros, the required Ethereum is then transferred to the token holder and Primalbase takes a 10% administration fee. The blockchain technology used for the same ensures that the process is secure, efficient and flexible.
Primalbase shared workspace is an innovative initiative as blockchain along with traditional industry of commercial real estate can sort a lot of hassles and help the community to work efficiently.
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