15 Insights on Atlant ICO
Aug 10, 2017 Posted / 4802 Views
Technologies in the cryptocurrency are getting integrated. And thus, there are many platform being launched regarding the platforms for these kind of technologies. An addition to these platform is the Atlant platform. Let us see what Atlant platform has to offer us
Atlant Platform is building a next generation global real-estate platform based on blockchain technology. They are using cryptofinancing (Initial Coin Offering) for growth capital rather than traditional venture capital and shareholders. It addresses both the short- and long-term real estate rental markets by lowering fees, using decentralized conflict resolution and making this market truly P2P, eliminating various middlemen, and also ensuring that reviews and listings are honest, as they are stored on an immutable blockchain.
Atlant provides two main features to address known problems in today’s global real estate one is Tokenized Ownership and other is Peer-to-Peer Rentals.
With advent of blockchain technology, existing hotel business and growth of online services such as Booking and Airbnb could be disrupted and channeled into a decentralized service such as Atlant, and said technology could accelerate both supply growth and utilization.
Tokenized ownership will simplify every type of operation with the real estate, including property investments and ownership transfers, either partial or complete. Real estate tokens representing a share in property ownership will allow for a liquid real estate market with transparent prices (price discovery).
Peer-to-Peer Rentals will make it possible to significantly reduce fees taken from both parties (tenant and lessor) and minimize the possibility of fake reviews and forged ratings – which are the main problems of existing centralized rental services such as Airbnb, Expedia, Booking and others.
Atlant isthe first decentralized real estate platform, built on top of the Ethereum network. With rapid rate of adaption of crypto-assets, Atlant strives to remedy the situation of illiquidity and opaquenessin the real estate market. Atlant serves as a turn key solution for listing a real estate asset for trading in a tokenized form in a similar way that stocks are listed on exchanges such as FTSE or DAX.
Atlant allows property owners and developers to tokenize their assets and list them for trading. Atlant token holders will endeavor to find new properties and also accept incoming requests from such entities. Initially Atlant plansto tokenize propertiesin select transparent jurisdictions such as continental Europe and UK, and eventually, as their expertise grows expand globally to capture further market share.
Once a property has been identified and verified by local authorities, and its details published on the platform, a date will be set for the properties’ Property Token Offering (PTO). Price for the listing offer will be taken from the developer or selling party. Lawyers/trust companies who digitally signed all certificates and will be handling transfer of ownership are involved off the chain with Atlant supervising the process.
The main recurring income as with traditional property holdings is rental income. It is the duty of the property management company to collect this income and redistribute it to token holders. Rental income is distributed to the property token holders after fees are deducted by the management company, and the reserve fund is topped off should it be less than 10% of the property price for the past 6 months of trading, or initial price of the PTO if 6 months has not elapsed.
The reserve fund is proportional property of the asset’s token holders, however it is held in escrow, to pay the management company and cover any unexpected costs associated with the property. Due to current cryptocurrency volatility reserve fund assets will be automatically converted, via a smart contract, to fiat-like currency via Tether upon entering the reserve fund. The reason for this is that spending associated with the reserve fund is closely associated with fiat currencies.
Funds from the reserve fund will be paid as necessary to the management company, which would be controlled by the use of a voting system (choice of the management company).
The Ricardian contract is a method of recording a document as a contract at law, and linking it securely to other systems, such as the accounting system, for the contract as an issuance of value. RC is a software design pattern to digitize documents and have them participate within financial transactions, such as payments, without losing any of the richness of the contracting tradition. Publication of the content and reference to that content by the unique cryptographic message
digest eliminates frauds based on multiple presentations.
Atlant Platform is a standalone P2P network with the custom protocol built for purposes of digitizing real estate in a decentralized way. This network is governed by Ethereum smart contracts (Atlant DAO family), implementing and enforcing rules for entities to interact in tokenizing property or rentals.
The Atlant is implemented in the form of Ethereum smart contracts and executed by EVM: DAO family, voting on proposals, escrow, core and property tokens, rental agreements and auxiliary contracts.The Atlant protocol provides a bridge, connecting the Atlant network with the Ethereum-based smart contract infrastructure governing the Atlant Platform.
Atlant Platform comprises the software components like Atlant-go (Go), Atlant-desktop (Electron), Atlant-dao (Solidity), Atlant-web (Vue.js), go-ipfs (forked), go-onion-transport.Atlant core node software is the low-level component, containing implementation of the Atlant protocol (Atlant-go). Core node software is responsible for running the Atlant P2P network and managing data flow through, establishing the data tier of the Atlant Platform
In pre sale 1 ETH will be equal to 1010 ATL and in ICO 1 ETH will be equal to 505 ATL. The pre sale has already begun and investors can to their official website for participating in the sale.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
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