Founded by the high-powered Lakeba Group, which has been recognised as one of Australia's most innovative companies, Bricklet uses IBM blockchain technology to fragment property ownership, allowing individuals to purchase affordable bricklets representing a portion of an entire property.
Unlike competing offerings by BrickX or Domacom, which offers investors units in unit trusts which are the ultimate owners of underlying property, Bricklet gives investors a direct proprietary interest in property, allowing the investor's name to be shown on the title for the property.
Properties in NSW are the first to list on the Bricklet platform. CEO of Bricklet, Darren Younger, confirmed that:
The plan is to launch into the other states very quickly. We should be in at least four more states within the end of this year, with a national rollout by June or July of next year
Piper Alderman are pleased to have been a part of Bricklet's journey from idea to commercialisation, and look forward to their continued success in 2020.