A new cryptocurrency, ATLANT (token symbol: ATL), aims to revolutionize real estate by tokenizing real estate assets and opening up the market to new investors from all over the world using blockchain. ATLANT believes blockchain has the potential to bring positive economic and social effects all over the world, and wants to be at the forefront of innovation in real estate.
Emphasizing security, the ATLANT blockchain platform, known as ADEX (ATLANT Decentralized Exchange), allows users to transact real estate property with other users and bypass intermediaries common in the industry. By removing these intermediaries, the platform will make real estate more efficient and less costly. Essentially, the platform will be peer-to-peer (P2P) and decentralized, which also make transactions easier and speed up their process. The platform will be built on top of the increasingly popular Ethereum protocol, which allows for self-executing “smart contracts” that do not require middlemen. Using cryptography to validate transactions, false or fraudulent transactions cannot occur without the approval of the parties involved.
The ATLANT platform will allow investors to own fractional holdings of real estate, bringing convenience and reducing inequalities in the industry. With ATLANT, ordinary individuals will have a greater selection of real estate to invest in, regardless of distance or national borders. The tokenization of real estate will also allow users of the platform to track transactions in real time, improving confidence and trust. Moreover, reviews will be more honest, given that they are immutably stored on the blockchain.
Given that real estate industry volume in 2017 was $1.4 trillion, according to the company, the market potential in applying blockchain is enormous, given its inherent security and user-centric nature. A mere fraction of that volume equates to enormous sums of money. Because the platform simplifies transactions and reduces their cost, and allows smaller players to invest in large projects, ATLANT has the potential to fuel growth to the industry as a whole. Moreover, ATLANT is a first-mover among real estate projects applying the blockchain, which will assure that ATLANT gains a significant share of that market niche.
Potentially, ATLANT could save the real estate industry millions of dollars in overhead by allowing titles to be registered on the blockchain. This will simplify the process of validating ownership. Citing Goldman Sachs, the company asserts that blockchain can potentially save the title industry $4 billion annually in the U.S.
ATLANT can also disrupt the hotel and lodging industry by allowing transactions to be conducted P2P. P2P transactions are likely to reduce fees and overhead, allowing for more competitive pricing. Additionally, it will be more difficult to publish fake reviews on the blockchain, allowing market participants to have more accurate information before they transact. The reduced fees and honest reviews by using the blockchain may also fuel growth in the hotel and lodging industry.
The ATL token, running on Ethereum, is ERC20 compliant. This will allow ATL to be transferred by users to standard Ethereum wallets, increasing liquidity due to the widespread use of the Ethereum protocol. Token owners will be able to cast votes by means of a voting mechanism, thus making the platform democratic. ATL tokens are membership certificates that furnish rights and privileges to users, such as buying, selling, or renting property in tokenized form using smart contracts. Simply owning ATL tokens will not generate passive income, though users running an ATLANT node on their computer will be entitled to receive commissions and fees from sales depending on how much ATL they own.
The ATLANT platform will also have its own internal process of dispute resolution by appointing arbiters. The platform will have a rating system for arbiters to bring transparency and fairness to the dispute resolution process. Arbiters will be able to earn income by resolving disputes in a fair and judicious manner.
For more information about ATLANT:
ATLANT Bitcointalk ICO Announcement: https://bitcointalk.org/index.php?topic=2053239.0