By making it possible to digitally represent properties on the platform, trading real estate properties will happen seamlessly without geographical restrictions

The global real estate market is still expected to make tremendous growth in the course of 2019 despite the volatility and uncertainty surrounding the economic outlook at the start of this year, according to a report by CBRE.

The global market has been estimated to reach a revenue of over US$4 trillion by the year 2025.

Economic development in developing countries, the rising increase in demand for real estate housing, and several other factors have steadily been contributing to the increase in the market revenue.

One major driver of the market is the rapid increase in rural-urban migration which has led to urbanisation. This increase has spiked the demand for urban home spaces thus increasing real estate housing investment.

Also, investments in the global commercial retail market run into billions of dollars with real estate investors still actively exploring different countries and locations to invest.

Barriers to investing

However, despite the growth and the estimated forecast revenue, the real estate market is still plagued with a number of limitations that hinder more growth.

There are still barriers to investments in the sector especially for foreign investors, one of which is the complex process involved in buying real estate properties in foreign territories.

Also Read: Logistics tech startup Waresix shares their achievements and target

Foreign investors have to go through rigorous processes depending on what country or region they choose to invest in. Most have these investors go through agencies to purchases these properties which comes at huge costs as the agencies will also have prices fixed for their services.

Also, the huge capital requirements involved in purchasing these properties abroad which then have to be held down for a number of months depending on country laws before realising returns from the investment, discourage a substantial number of small investors who have access to no such funds.

The liquidity in the market is posing a major barrier to investors and as such should be effectively addressed for adequate growth to occur in the market.

How blockchain changes the ecosystem

Blockchain for years now, has been disrupting several sectors and industries by totally revamping traditional business models and processes. Distributed ledger technology is designed to facilitate transparency, authenticity, security, and decentralisation.

Having been leveraged in sectors like the financial, luxury, gaming and health sectors, it’s time the real estate sector took advantage of the technology and explore ways it can facilitate the market.

A number of blockchain companies have already begun such explorations. LABS Property, for instance, creates a digital representation of real estate properties on the blockchain which will allow easy access and trading. Foreigners will no longer need to go through the complex processes of purchasing assets as foreigners abroad because LABS Property will act as title deed custodian locally and investors can then purchase directly from their platform. This eliminates the tedious paperwork process and middlemen challenges.

With the LABS Property framework, investors will be able to purchase real estate properties in fractions, i.e., fractional ownership. This will be similar to owning a square foot of a property. Investors will not need to acquire a huge amount of capital for single ownership rather, with the current funds at hand, they can purchase via the LABS. Its property platform is a somewhat property swap market and, properties can be bought and traded as the investor wills.

For instance, an investor is willing to invest in real estate property in Vancouver but has no access to huge capital funding and does not desire to go through the documentation, requirements, and agencies to secure the property. All they need to do is simply purchase via LABS Property.

Since the property is digitally represented on the blockchain, the investor can choose to purchase a fraction of the property they can afford and it automatically becomes theirs. The same fraction purchased can further be traded with other interested buyers on the blockchain and earnings will be received almost instantly.

Fractional ownership of properties is a major boost to the real estate market, as small investors will now have access to real estate investments without restrictions of huge capital. Fractional ownership also means investors don’t have to wait for months or years to earn returns, trading and transfer of rights can be done on the blockchain platform.

Blockchain technology proves the capacity to facilitate effective growth in the real estate sector. By making it possible to digitally represent properties on the platform, trading real estate properties will happen seamlessly without geographical restrictions.

The room created for small investors to participate in the market will certainly impact the overall revenue in the market.

The future of real estate investments disruption

Blockchain is creating a new future for business operations whilst giving equity and fairness to all players. With the new developments the technology brings to the market, smaller-scale investors will have unrestricted access to real estate investments.

The exciting factor here is investors can purchase real estate properties in foreign countries as if they were local — no complex documentation processes, no middlemen or agency hassles, all direct investments, thanks to blockchain technology.

Also Read: What Southeast Asia’s gaming companies can do to stay ahead of foreign competitors

In addition, the thrilling idea that properties will be bought in fractions without having to purchase the whole is one that will boost growth and revenue in the market. Real estate ownership just got redefined.

The disruption of the market by blockchain is one that stands to boost investments and open more doors of opportunities to potential investors. Blockchain is redefining and democratising the real estate sector for the better.

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Also, GO-VIET names new Manager and HappyFresh raises US$20 million

honestbee puts pause on Philippines operation — [yugatech]

honestbee, the regional online grocery delivery startup, temporarily suspended its operations in the Philippines, according to yugatech.

The company sent out materials over the easter holiday that said it would be “bee right back”. The closure coincides with the layoff of around 70 people, as reported by TechInAsia.

The company also released a statement that it was “working with its headquarters” to get the company on more sustainable footing. The Philippines Country Manager said the layoffs did not impact the local business and the 200 employees will continue to report to work.

HappyFresh raises US$20 million Series C — [e27]

HappyFresh, an online grocery startup headquartered in Jakarta, has closed US$20 million in a Series C round of funding, led by South Korean VC firm Mirae Asset-Naver Growth Fund, which is also an investor in e-commerce and fin tech startup Bukalapak.

Other investors of this round include strategic partners such as LINE Ventures, Singha Ventures and Grab Ventures, which reportedly also made an investment in the startup in July 2018, following a partnership.

The fresh investment will be used for both city and country expansion, as well as to invest in technology and further support the team in a number of specialist functions such as data science and omnichannel technology.

Go-Jek names new country manager for GO-VIET brand — [Go-Jek]

Indonesian ride-hailing giant Go-Jek announced today they have named Christy Le as the new general manager for its Vietnam operations under the brand GO-VIET. She was previously the country director for Facebook in the nation.

“I’ve seen how the success of GOJEK’s multi-service platform has transformed the lives of so many people in Indonesia and want to see the same happen in Vietnam,” she said.

Glife raiseus US$1.18 million for more sustainable restaurants — [e27]

Singapore agritech firm Glife announced today that it has raised S$1.6 million (US$1.18 million) in seed funding from Global Founders Capital and 500 Startups. A few groups of angel investors took part in this round, including F&B and tech veterans such as Royston Tay, the co-founder of Zopim.

The digital business-to-business (B2B) agritech firm said that it will use the funding to enhance the user experience for restaurants. This includes building a consolidated invoicing system to deal with perishable goods and greater traceability of produce from farmers. It is also pilot-testing an on-demand logistics technology for last mile delivery fulfillment, as well as to scale and strengthen the technology team in Singapore.

Glife’s farm-to-table platform seeks to redefine end-to-end agricultural food supply chain. It claimed that it has got more than 150 local F&B businesses connected directly with farmers within their ecosystem for fresh produce needs.

Huawei sees 39 per cent increase in Q1 revenue — [Huawei]

Chinese telecommunications giant Huawei announced today its revenue rose nearly 40 per cent in Q1 to US$26.78 billion while it shipped 59 million smartphones.

It also claims to have signed 40 5G contracts and shipped more than 70,000 basestations, a number that is surely to be politically sensitive amidst tensions with the United States.

The company was also profitable, reporting a net profit margin of 8 per cent.

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The post Today’s top tech news, April 22: honestbee suspends Philippines operations indefinitely appeared first on e27.

The company sent out email notices last April 19 to customers

In an official notice sent out last Friday, the grocery delivery service honestbee Philippines announced that it will temporarily stop its operation locally, as reported by Yugatech.

The company said that it experiences a funding issue with the headquarters, with the email stated below:
“At honestbee Philippines, we value the relationship we have built with you.

As we work with our HeadQuarters towards bringing the total business to a healthy and sustainable level, we, unfortunately, need to temporarily pause our local operations until further notice.

Thank you for understanding, and we apologise for the inconvenience this may have caused…”

The email was also followed by a message shown on its app showing: No other details of the closure are available as of the moment.

In January, the Singapore-originated delivery and concierge company announced that it will “temporarily pause” the partnership it has with FairPrice with no specifications on the period of time.

However, according to Vulcan Post, the ‘shopper bee,’ honestbee’s concierge shopper said that it will be a permanent arrangement.

Also Read: Agritech startup Glife secures US$1.18M seed funding for farm-to-table logistics service

A report by Dongshen News said that honestbee allegedly owes money to its partner vendors in Taiwan and that it has been delaying payments, while another said that it has not received any payment from the firm since January.

honestbee Taiwan responded and emphasised that it doesn’t face any cashflow problems.

Today’s report released by Tech in Asia stated that “multiple sources within the startup” revealed that honestbee has laid off at least 50 to 70 people out of its 1,000-strong staff across several markets last week.

In Thailand, 30 staff were let go, while more than five people were axed in Indonesia following the resignation of several key executives, including co-founder Isaac Tay, Malaysia country managing director Pulkit Manchanda, and Singapore managing director Chris Urban.

honestbee expanded in the Philippines around the first quarter of last year.

Also Read: Myanmar fintech secures additional capital for its Series A round

Customers in the Philippines reportedly reached out to honestbee’s social media pages questioning their pending orders with the firm. honestbee has since responded that all credit and debit card payments will be refunded.

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On the Future Stage of Echelon Asia Summit 2019, we will dig deeper about the prospects for e-sports athletes in the region

Already excited for Echelon? Buy your tickets here! Enter promo code ECHELONFUTURE for free tickets!

When it comes to e-sports, Asia is that one opponent that the global e-sports community need to beware about.

While the industry has gone through a long history in Southeast Asian countries, it has recently touched a new milestone when China was crowned gold medal winner in the first of six e-sports demonstration events taking place at the 18th Asian Games in Indonesia.

Various governments in Southeast Asia have begun running state-sponsored competitions in preparation of the upcoming Southeast Asian (SEA) Games 2019 in the Philippines. Major tech companies such as Go-Jek have also begun investing in e-sports through its investment arm; more and more e-sports startups in the region were also raising significant funding, as their ability to compete with similar platforms from US and China were finally proven.

With all this exciting development, it is no wonder that Asia is considered as the next red hot arena for e-sports athletes. But what are the available opportunities for e-sports athletes in the region? How can they tap into it? What are the remaining challenges that they are facing?

To answer your burning questions, e27 has prepared a panel discussion called E-sports: Why Asia’s newest cool kid on the block has become an arena for professional athletes on the second day of Echelon Asia Summit, held at Singapore Expo on May 23-24.

Also Read: Singtel to back Singapore’s SEA Games e-sports team

The session will feature the following speakers:

Alan Chou, CEO, meta.us

As CEO of social marketplace platform for competitive video game and e-sports community meta.us, Chou has more than 10 years experience in the gaming business with over a dozen AAA game titles launched and credited.

Prior to meta.us, he was Director of Publishing for Southeast Asia at Blizzard where he led the team to 5x growth in revenue four years

With a strong background in building businesses and leading teams, Alan enjoys the challenge of pushing boundaries and in his own words “creating something from nothing”.

Benjamin Rynjah Goh, Regional Brand Manager, AirAsia

Goh started off his career in the finance industry before moving into advertising from Bloomberg TV Malaysia to BBDO. After two years at BBDO, he moved to AirAsia where he began by working on the branding operations in Singapore but has now shifted to managing the sport portfolio for the group.

Handling key sponsorships with organisations such as the UFC (professional e-sports team), Team Mineski, The KL2017 SEA Games as well as the recently concluded AFF Suzuki Cup, Ben also works closely with individual athletes that the brand use as ambassadors –from Roberto Carlos, Azizul Awang, to Tai Tuivasa– activating them in Malaysia, the region and beyond.

Also Read: DailySocial moves forward with launch of Hybrid, an Indonesian e-sports news platform

Rai Cockfield, CEO & Co-founder, BITREP.me

Prior to BITREP.me, Cockfield served as Director – Asia Pacific at global live streaming giant Twitch. For more than two years, he was responsible for expanding Twitch’s APAC Community of Broadcasters and Viewers. Combining previous community building and international operating experience, he developed an initial growth strategy for Twitch through content expansion, international product development, sales, corporate expansion, and infrastructure development.

The role had enabled him to develop his passion for supporting the rapidly growing community of digital content creators and “fall back in love” with popular game titles in his youth such as Street Fighter.

Prior to joining Twitch, Cockfield had lived in several countries in Asia and North America and has worked in various sectors from wine e-commerce, C2C marketplace, and even real estate developer.

Jason Ng, Vice President Strategic Partnership, Garena

Ng has worked in Garena for almost a decade, starting off Senior Project Manager in 2010. He has been holding the Vice President, Strategic Partnerships title for two years.

Prior to joining Garena, he had experienced working at several government institutions, starting as Senior Manager at Ministry of Manpower, Singapore. He was also a Consultant at Infocomm Development Authority of Singapore.

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Already excited for Echelon? Buy your tickets here! Enter promo code ECHELONFUTURE for free tickets!

Image Credit: Andre Hunter on Unsplash

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RWDC develops cost-effective biopolymer material solutions, which are naturally produced by bacterial fermentation of plant-based oils or sugar

Singapore-based biotech startup RWDC Industries has raised US$22 million in the third tranche of its ongoing Series A round of funding, led by early-stage investment firm Vickers Venture Partners and US-based Eversource Retirement Plan Master Trust — its first institutional investor.

Others who participated in the round include cross-border VC firm and existing backer WI Harper Group.

This is a follow-up to the US$13 million that RWDC raised in the second tranche of its Series A round in October last year.

Founded in 2015 by Wee and Daniel Carraway (CEO), RWDC develops cost-effective biopolymer material solutions. In particular, RWDC produces medium-chain-length polyhydroxyalkanoate (mcl-PHA) biopolymers that are designed for use across a broad range of applications.

Also Read: This Indian startup makes cutlery using sugarcane waste

PHAs are linear polyesters naturally produced by bacterial fermentation of plant-based oils or sugar and are widely recognised as the only commercially viable biodegradable bioplastic. RWDC claims its PHA is fully biodegradable in soil, water and marine conditions (i.e. all potential end-of-life scenarios), fully biodegrading within weeks with no toxic residue.

The fresh investment will primarily be used to increase PHA production capacity in Georgia, USA, as well as to support its R&D efforts into prioritised applications. The company expects its first commercial batch of PHA straws to be available in the market in 2019.

The PHA resin formulated by RWDC for these straws is designed as a drop-in replacement of Polypropylene that can be used on existing extrusion machines.

“The world finally recognises the urgent need to build a green and sustainable future. Plastic waste pollution in our oceans is a real threat to societies and global growth. RWDC’s biopolymer materials are fully biodegradable, durable and functional. Our goal is to replace single-use plastic and create meaningful impact. We are very proud to partner with RWDC’s team, creating awareness to replace plastic use, while also raising the standard for the smart cities of future generations,” Peter Liu, Chairman of WI Harper Group, said.

Governments around the world are beginning to legislate more aggressively on plastic waste, with the EU leading the way with a new directive on single-use plastic articles. However, current responses focused on ‘Reduce, Reuse and Recycle’ are inadequate to alter the growth trajectory of plastic waste, risking serious consequences.

RWDC believes a better solution is to replace single-use plastics with PHA.

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Photo by John Cameron on Unsplash

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