2017 has ended, but it will always be remembered as the year of the bitcoin.

It can be hard to forget with the rates of cryptocurrency surging more than 400% since January or the amusing name change of the ice tea company inspired by blockchain.

Still, there remain many rhetorics about bitcoin and its backbone technology blockchain. Some experts speculate it as another dot.com bubble, while others are predicting that its value will continue to rise.

Nevertheless, cryptocurrency has definitely driven a lot of attention and awareness, from interested investors to head-scratching audiences who are still unclear of the trend.

What is Cryptocurrency?

Bitcoin, blockchain, and cryptocurrencies – to date some might have used them interchangeably but cryptocurrency at its very core dictates the facilitation of peer-to-peer transaction.

Source: Lifehack.com

Few people are aware, but cryptocurrencies emerged as a side product of another invention. Satoshi Nakamoto, the unknown inventor of Bitcoin, the first and still most important cryptocurrency, never intended to invent a currency.

At first, he was looking to develop a peer-to-peer electronic cash system. It’d be decentralized with no server or central authority but still be able to prevent double spending.

Through this Satoshi came up with the idea of a decentralized network – one where every single entity of the network is to hold the list with all transactions to check.

In other words, a cryptocurrency like Bitcoin consists a network of peers. Every peer holds a record of the complete history of all transaction and thus the balance of an account.

If a transaction is confirmed, made permissible by the user public key cryptography, then it’s set in stone and no longer reversible, becoming part of an immutable record of historical transactions of the so-called blockchain.

This makes sending money as easy as sending an email. It doesn’t matter where you are, or where you are sending to but the effect of cryptocurrency is to save money.

It’s Not Just Cryptocurrency Startups

Source: Ventureburn

The invention of cryptocurrency didn’t just benefit business transactions, it opened up an industry and also many possibilities.

Of course, one being the financial business we are all so familiar of, which uses cryptocurrencies because of its low or close to none fee, as well as its instant ability to move any amount of money around.

On the other hand, there are those that utilize it for its blockchain technology, the decentralized network that allows every entity on the network to receive the same message at the same time.

Shiraz Malik, a regional expert even foresees it being implemented in the systems of airline companies through blockchain-powered loyalty programs and user-friendly mobile services. According to the expert, the technology would allow for streamlined authentication, data distribution, and security protocol.

“Blockchain can ensure that everyone involved in travel – airline crew, airport staff, ground services crew and passengers – have access to the same, up-to-date, verified information about arrivals, departures, and delays,” said Malik, who is vice president of sales APAC for CellPoint Mobile.

“This can help to avoid situations where airline and airport websites, mobile apps, text messages, passengers and staff members have outdated or conflicting information about flight statuses.”

Southeast Asia is Embracing Cryptocurrency

Despite the speculations surrounding bitcoin, the frenzy, however, is proving to be essential in the developing markets of Southeast Asia.

In fact, most Southeast Asian startups are embracing cryptocurrencies both as investment products, as well as cost-effective methods for offering services.
So much that the remittance economy in the Philippines is the highest in the world – contributing to US$26 billion in a single year alone.

According to Forbes, approximately 10 million Filipinos have employed abroad, and this statistics does not include workers who are taking jobs in the cities, so they can send money home to their families in the more remote area.

That’s an arduous process when overseas domestic workers try to send money back home. They face steep fees relying on traditional cash transfer services. Even then, there are no guarantees that the beneficiary will be able to receive it, nevertheless receiving it immediately.

According to Mikko Perez, the founder, and CEO of Ayannah, it’s also not uncommon for agents to run out of money and force receivers to return the next day. It is generally time-consuming for people who have to travel hours just to pick up their money.

Cryptocurrencies as a Solution

Source: Business Insider

Stepping in to solve these issues, startups, and services like BloomSolutions Inc or coin.ph are using cryptocurrencies as a solution to reduce remittance fees, in addition to driving financial inclusion.

This is through creating crypto-powered services, accepting bitcoins from overseas and converting them into pesos, dinars or any desire currency, then deliver those funds to the final beneficiary through domestic transfer methods.

There’s no volatility risk and the beneficiary does not even need to know that those funds have been transmitted via bitcoin. Less money is spent doing so, and this makes it both affordable and accessible to a wide range of customers.

This is just the first mile. The service also renders the need for a physical agent or remittance outlets and traveling altogether. In Singapore for instance, migrant workers can use applications like Toast to do a peer-to-peer money transfer through their smartphones.

However, though some may argue that if you put it into the context that it is simply impossible for small bitcoin startups to overthrow the Western Union or Remitly at this stage.

Still, bitcoin and blockchain provide a compelling alternative for a small subsection of their customers, and unarguably startups are always best at focusing to solve the smallest possible problem.

In Southeast Asia, it’s not just remittance. Bitcoin and blockchain open up a world of possibilities from salary payments to business incorporation. This is just the beginning.

There has always been an appeal for designer homes. Like when Patrick Cox was moving to Ibiza, the Canadian-British shoe designer managed to sell his London home for US$3.62 million despite the uncertainty surrounding Brexit. Truth is, designer homes can be hard to come by, and if there are any other options – it would mean you have to go to the designer itself.

But what if owning a designer house is as easy as a trip to IKEA? This is the vision Revolution Precrafted is aiming for being the world’s only branding house startup.

The startup is mixing prefab homes and luxury branding to revolutionize the real estate industry not just in the Philippines but around the world. Although it will only be two years old this December, the startup has already reached the unicorn status with its funding last week from Singapore’s K2.

Different from most startups, Revolution Precrafted hasn’t really been looking to raise capital. The startup has been profitable from the start. However, venture capitals and investment firms just couldn’t miss out the chance.

Khailee Ng, the managing partner of 500 Startups said, “the company didn’t need to raise. I had to convince them to take my money for value-add, not cash.”

On the other hand, K2 is founded by venture capitalist Ozi Amanat which has been known for his investments in Alibaba and Twitter before their public offering. The investment firm also counts several other unicorns in its portfolio including Spotify, Magic Leap, and Paytm.

Source: Business Insider

However as excited as I was on the emergence of a new unicorn from Southeast Asia. After the initial thrill, I can’t help but wonder about the volatility of technological startups that has all aimed to disrupt the real estate industry. Will Revolution Precrafted purvey?

The startup is founded by Robbie Antonio who is one of the four sons of Century properties Group Inc. founder Jose E.B. Antonio. He is a voracious art collector and the brains behind family projects in collaboration with big names including Paris Hilton and the Trump Group.

Having grown up in the ever-dynamic real estate industry, Antonio knows the pain points and the massive opportunities that Revolution Precrafted can take advantage of. That is for real estate developers to deliver projects as quickly and as cost-efficiently possible.

The startup supplies the market with prefabricated homes which components has already been manufactured and pre-assembled before the on-site build. This include modular homes, condominium, pop-up retail stores, and fitness centers.

But unlike other prefab manufacturers such as Blu Homes or Acre Design, buildings designed by Revolution Precrafted all bear the names of some of the world’s top names in design and architecture.

Image Source: Inhabitat.com

From award-winning famous architects like Zaha Hadid and Jean Nouvel to celebrities like Tom Dixon and Lenny Kravitz, Revolution Precrafted provides ready designs which interested home buyers can choose from. This helps free time from the designing phases as well as the high price charged in unique designs.

Client can boast of living in a home designed by actor and singer Lenny Kravitz without having to pay the full cost but getting all of the benefits, in term of speed, quality, and branding.

But ultimately, Antonio’s greatest assets are also ownership of the intellectual property of world-class designers, the global network of fabricators and his invaluable relationships with developers and landowners. Through his ties with quality fabricators, the founder can complete the developments faster.

A 50-square-meter home can be done in as fast as three months as opposed to the usual two years since most of the components had already been fabricated, ready for assembly at the job site.

With this access to branded design of living spaces by combining world-renowned designers and latest advances in construction technology, Revolution Precrafted is able to democratize this area in the real estate industry.

Image Source: Revolution Precrafted

Prefabricated Homes and Gucci Bags

Buying a luxury handbag these days seems to be no more uncommon than buying salmon for dinner at Walmart. The physical appeal of luxury goods is undeniable – the leather is softer, the shoes are more comfortable – the question is will it be the same – when it come to a designer home?

With a branded house strategy, Revolution Precrafted has to build a strong brand. One that is both easily recognizable and memorable, as well as desirable. As prefabricated homes has all along been advertised as easy, convenient, and cheap.

In fact, you can buy an entire house from Amazon.com at one-tenth of the price charged by Revolution Precrafted for $36,000 plus shipping. It’s a one-bedroom abode with a shower, toilet, sink, kitchenette, all hooked up to external sewer, electric, and water connection.

In this case, Revolution Precrafted has to build a taste for luxury designer home for the mass market. But I do think that once prefabricated homes has hit a certain tipping point, it will cause us – or at least a sizable cohort of us – to reevaluate a lot of the fundamentals of modern society which are so essential

Revolution Precrafted may have marked the unicorn status, still most of the concern over its future is to build its reputation among the mass market. And only then will the startup become the biggest home supplier in the world.