Blockchain Tech Enabling
Real World Impact
The Empowa whitepaper, written in early 2021, laid out a theoretical approach to funding affordable housing in developing market. This thinking was further developed in our Blackpaper. This may sound complex at times, so we’ve put together this page as series of FAQs to hopefully make our approach easier to understand.
What do we do?
At Empowa, we finance rent-to-own contracts that help families buy climate-resilient homes affordably. We don’t finance the construction of homes, so we don’t bear the risk associated with construction. Instead, we partner with local developers, enabling them to offer more affordable options for families to purchase their completed homes, thus improving their ability to sell their finished projects. Our financing also encourages the use of green building techniques, promoting a more sustainable approach to construction.
Who is responsible
for the loan?
The developer is responsible for repaying the loan. The Empowa platform ensures that funds are only released to the developer once a rent-to-own contract has been confirmed and deposits paid. Such an approach fundamentally reduces risk and ensures that there is a demand-supply match.
You can see a full overview of the process here
How are the rent
to own contracts funded?
Empowa supports the funding of rent-to-own contracts from institutional or accredited investors. These investments are represented by a unique digital asset called the SDRI NFT. A fulll overview of the process can be seen here.
What is the role of
the $EMP token?
The $EMP token is the utility token of our ecosystem. Any fees associated with using our platform must be paid in $EMP.
Additionally, the $EMP token is used as collateral for a portion of the loan. Developers seeking more affordable funding can purchase $EMP tokens and lock them into a smart contract.
As more homes are financed and the portfolio of projects increase, more $EMP will be locked away in the smart contracts, increasing the demand.
What is Empowa Pay?
Empowa Pay is a custom-built CRM (Customer Relationship Management) system designed to address the unique needs of affordable housing developers in emerging markets. It enables timeous and accurate recording of tenant payments on the blockchain enabling the developer the opportunity to offer instalment sales and enhancing transparency for investors.
Empowa Pay also enables the customers of a developer to apply for an affordable home via the system. This builds the sales funnel and significantly reduces project risk as it demonstrates the demand for the product and numbers of potential customers before funds are released.
Our Empowa project contains a wealth of additional details not covered in this essay. If the information provided has piqued your interest, there’s much more to explore and learn about our project. You can also join our Discord or Telegram communities, where our knowledgeable and passionate community can provide more in-depth insights.
From the beginning, we understood that addressing such a deeply rooted challenge would be complex, but we believe we are laying the essential groundwork for a business that can scale and make a significant, sustainable impact on the lives of millions.
