Today, 33 year old real estate investor and entrepreneur Vernon J. announced the launch of EquityCoin™ (EQTY), the first digital token on the blockchain backed by affordable housing. Through this decentralized approach to community development, EquityCoin plans to transform the real estate funding apparatus while creating generational wealth for Black and brown communities.
According to the National Low Income Housing Coalition, the U.S. has a shortage of 7 million affordable apartments, which has been exacerbated by the economic fallout from COVID-19. To address this national crisis, Vernon created EquityCoin as a vehicle to galvanize communities of color to invest in local affordable housing projects cooperatively.
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