RFID and why we use this technology.
To begin with, let us define what an RFID tag is. A Radio Frequency Identification tag (or chip) is an electronic tag that sends (while some models even receive and process) information to the RFID reader via radio waves.
Before starting construction, the BitRent platform analyzes the BIM model of the project and generates an identification code for RFID tags and the locations (construction elements) where they need to be installed.
Moreover, builders on the BitRent platform will use barcodes to tag various building blocks of the construction. Such a solution allows us to digitize the building elements and monitor as well as control the construction process.
Principle of operation:
When the construction process is started, building material manufacturers install RFID tags on building elements and then activate them. To determine the roles of each on the BitRent platform, we use a distributed registry. After launching the platform, verified users need to scan these tags and enter data into the blockchain.
Then, in order to confirm that a particular element has been chipped, others taking part in the construction process need to make entries in the project’s blockchain node. Entries are confirmed by the data obtained through scanning the tag.
Therefore, each tag/barcode is entered into a digital file of the completed work, and acquires one of 4 possible statuses (1. In the system, 2. Attached, 3. Put into operation, 4. Approved for use).
Smart contracts on the BitRent platform are activated each time the status of the labels/barcodes changes. All participants (investors, developers and builders) receive notifications and are able see the changes.
Thus, once the work is finished, we will get a fully completed high-quality construction project, executed strictly on time.
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Launch of the platform
Very soon, in mid-February, the official launch of the BitRent platform will take place. The BitRent team has spent an incredibly active year. We were engaged in the development of the platform, and spoke at the blockchain conferences and summits in New York, Dubai, Hong Kong and other blockchain capitals. Then, we successfully conducted the Pre-sale and went to ICO, and the RNTB token is already taking part in trading on crypto-exchanges.
In addition, the first building object in its history – Unity Towers – will be presented. Furthermore, two more construction projects will be located in Hungary and Romania. In total, in the March-April period you will be able to take part in the acquisition of 3 projects on the BitRent platform.
All this became possible only thanks to the support of each user in the BitRent community. It was only through joint efforts that we managed to reach such an important and significant event in the history of BitRent.
Presentation in Dubai
Following the official launch of the platform, we have already planned to organize the BitRent Blockchain Conference in March in order to present our product to a narrow circle of investors, as well as to potential BitRent community users.
In addition to this event, we’re happy to inform you that we have already signed contracts with strategic partners from countries in the Middle East, Europe and the USA.
Friends, you can also meet us face-to-face at the following conferences, where BitRent will speak as a key partner:
- International Blockchain Summit in Dubai on March 4-5
- Conference in Moscow on March 1
- Blockchain Conference in London on March 10
- Conference in Berlin on February 27-28