ATLANT: Revolutionary Rental System

20 May 2018

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Running a real estate business is not easy. Problems like high-interest rates, lack of liquidity in the real estate capital markets, lack of transparency, and useless intermediaries are some of the prominent obstacles that real estate companies have to face. Frank Armstrong III, a contributor writer from Forbes, wrote an article on real estate investments. He stated:

Individual real estate properties meet none of the usual tests for market efficiency: Each parcel is unique, transaction costs are very large, sales occur only occasionally, and market knowledge is often local and restricted, making this an insider’s market.

What is Atlant

ATLANT is a decentralized real estate marketplace and platform. It aims to implement a more transparent and efficient way to invest and trade in the real estate market through the creation of a decentralized and transparent real-estate marketplace. The Properties digital record, a record that contains information regarding occupancy, physical characteristics, legal status, historical performance, and financial position, is registered on the Ethereum blockchain ensuring the stored data is both transparent and immutable.

ATLANT plans to subdivide individual real estate properties into property tokens. Subsequently, PTOs (Property Token offering) will be held and listed on ADEX, a decentralized ad exchange based on Ethereum smart contracts. In order to tokenize properties, owners should list their assets on the system. Afterwards, ATL token holders will decide whether to accept or reject the listing of the asset through a voting process. The process will provide a safe and secure method of exchange between ATLANT core tokens (ATL) and property tokens. Such approach will allow breaking through several constraints as the whitepaper reads:

Such endeavor would ease the transfer of ownership, simplify fractional holding without minimal constraints, alleviate tax inefficiencies, make cross-border transactions simple, and eliminate substantial overhead faced in certain jurisdictions due to unnecessary middlemen.”

Atlant will focus mainly on two features: Tokenized Ownership and Global P2P Rentals.

Tokenized Ownership

ATLANT intends to remodel the current global rental process used by centralized services like Airbnb and Expedia, Booking and others, by providing an ecosystem where people are allowed to tokenize their properties (dividing the total value of the property into tokens, where 1 token = 1mm2).

As previously mentioned, the properties will go through a voting process with EVM smart contracts. When a new listing is accepted another voting takes place to decide the law firm and property management company in charge of the specific case. It is the duty of

the property management company to collect the proceeds and redistribute them to the property token holders. Once all the requested documents are approved, they are stored on the ADDS (ATLANT Distributed Data Store) and its hash is recorded on the Ethereum blockchain initiating the PTO.

When all property tokens are distributed, the ATL token holders who were running an ATLANT node are paid with property tokens taking into account the listing fee charged. Those who invested in property tokens are able to benefit from a share, depending on the number of tokens they own, and of the rental income that could be exchange for ETH or ERC 20 tokens. The rental income will be distributed after the fees are deducted by the management company.

Global P2P Rentals

Besides the particularities already mentioned, a more efficient P2P rental process is expected to be implemented, allowing a reduction on costs for both intervenients, the lessor and tenant, as well as a system to avoid fake reviews and forged ratings.

In order to achieve this, ATLANT is planning to replace rental intermediaries by network members that are able to work in conflict resolution of P2P rental processes, known as arbiter, incentivizing them with ATL tokens per arbitration event.

The fake reviews and forged ratings avoiding process features a reputation system in the platform enabling a decentralized rating and review system.

Token/ICO

ATL tokens will work as membership certificates in ATL platform giving to the token holders several rights like:

  • Exchanging ATL tokens for property tokens, giving the possibility to acquire ,partly or completely, a property ownership
  • Receive commissions charged in P2P rentals to the owner of the property, if running a ATLANT node on their computer.
  • Vote to decide several actions as platform listing decision, property for rent approval and others.
  • Possibility to work, and earn extra income, within the framework of ATLANT as an arbiter for conflict resolution in P2P rentals
  • Influence in the platform developments

To learn more about the ATLANT ICO - click here. The ICO is almost over, so if you want to join, do it quickly here.

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