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Security & privacy

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How does tokenization increase security in real estate investing?
Tokenization increases security in real estate investing by providing a tamper-proof, transparent and immutable record of ownership, transactions, and compliance. It also allows for automation of smart contract that can ensure the enforceability of rights and obligations, and reduces the need for intermediaries in the process, which can further increase security.
What measures do you take to ensure the security of your infrastructure?
Blocksquare takes multiple measures to ensure the security of its platform and assets. This includes using robust encryption and secure protocols for data storage and transmission, implementing strict access controls and multi-factor authentication, and conducting regular security audits and penetration testing. We also implemented a complex smart contract system that helps us automate compliance and reduces human error.
How are ownership transfers of tokenized real estate assets managed and tracked?
Ownership and transfer of tokenized real estate assets on the Blocksquare platform are managed and tracked using smart contracts on the blockchain. These smart contracts automatically enforce the rights and obligations of the parties involved and provide a tamper-proof, transparent and immutable record of ownership and transactions.
What if a token holder loses private keys to the wallet where they hold assets?
If a user would lose access to their wallet, the KYC requirement enables system admins to use a "burn and mint" function to transfer tokens to a new wallet for that user.
Note: A special protocol that is available only to high ranking system admins has been put in place to achieve this in a secure manner.
What kind of recourse is available in case of a security breach on the platform?
In case of a security breach on the Blocksquare platform, the platform will take all necessary steps to secure and protect the assets, such as freezing affected assets, and coordinating with relevant authorities. Additionally, Blocksquare has implemented a system of multi-signature wallets, which means that multiple parties need to approve  executions of function limited to system admins before it can be executed, providing an additional layer of security.
What real estate property related information is stored on-chain?
When tokenizing a real estate asset with Blocksquare, certain property-related information may be stored "on-chain" in order to provide transparency and verifiability for investors and other stakeholders. This information may include:
1.Property location and description: Information such as the usage, type, address, geo-location, identification and any other relevant details about the physical property being tokenized.
2.Ownership information: Information such as the token issuer's ownership status of the property is highlighted in the corporate resolution.​
3.Tokenization details: Information such as the total number of tokens issued, the total value of the tokens, and the terms of the tokenization, such as the rights and privileges associated with owning a token are highlighted in the corporate resolution.​
4.Also the smart contract that holds the information of the property, the ownership, and the tokenization details are all stored on-chain.
It's important to note that Blocksquare uses the Ethereum blockchain as a foundation, and the information that is stored on-chain is recorded in the form of smart contracts on the Ethereum blockchain, and the data stored on-chain is immutable and transparent, meaning that any information recorded on-chain cannot be hidden, altered or deleted.
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