Blockchain in real estate. Today Atlant.io
It was a matter of time till the real estate market, which is over $217 trillion big, was approached by the blockchain. This market at the moment is highly inefficient due to the fact that there are lots of intermediaries with very high fees.
There are several ICOs which have been launched or are in the launching process this year.
The one which we will focus on today is Atlant.io, not to be mistaken to Atlant Investment hype.
Blockchain will entirely reshape the title insurance industry. By registering real estate on a distributed ledger, blockchain could streamline the manually intensive practice of examining public records when validating titles in real estate transactions. According to Goldman Sachs estimates, blockchain driven property records could drive up to $4bn in cost savings due to reductions in headcount and actuarial risk in the US alone.
To quote J. Schneider from Goldman Sachs.
Atlant Token - ATL
The ATL Tokens are Ethereum ERC20 compatible.
The platform enables property owners and developers to tokenize property by creating customized smart contracts and perform a token distribution to either sell property (partially or completely) or attract financing for its construction. The size of the listing fee is initially set at 7% of the underlying asset and, subsequently, determined by voting of the ATL token holders. After a successful token sale, an agreed part of the property tokens is released out of http://atlant.io ATLANT escrow to ATL token holders proportionately, provided such ATL token holders are running an ATLANT node on their computers. There is no passive expectation of income solely from holding ATL tokens.
Source: Atlant Whitepaper
In the presale they managed to raise $1.5mil
Token Distribution
The ICO started on the 7th of September. The total supply of ATL tokens will be limited to 150,000,000 of which 103,548,812 will be issued during the ICO period, and 5,201,188 allotted for the pre-sale, with the remainder going to the team, board of directors, advisers, and bounty program participants.
They have also a bonus ICO timeplan:
After the ICO is over, SpaceBTC and BTC-UP will be the first exchanges to list the ATL tokens.
What does Atlant try to do?
They focus on two shares of the real market at first, the high value properties and the rental market.
In the rental market they want to tackle giants like Airbnb which have tremendous high fees and also they will try to diminish if not eradicate the fake reviews, which are done on actual sites by deleting reviews or posting fake ones to increase the reputation.
The Road Map
Source: atlant.io
The Team
The Advisers
Opportunity
The opportunity is high as they are one of the first on the market. The highs fees are cumbersome for the normal user and by opening it to everyone, everywhere they can gain traction.
Even if they will not get the targeted 5% of the world market, but only 0.05% it is still going to be huge in value
Also the aim to hit the rental market, where most of the working population is moving and does not know the new city, can become huge if the review system is improved, the paperwork diminished and the fees lowered
Risk
- At higher traction with a lot of transactions the speed of the Ethereum Network can cause problems
- The team needs to bring in a real estate expert as they have till now proven business developers, software engineers and legal advisers
- Adoption of the blockchain by the state entities, as they are dependent on this according to the road map
- The road map is very tight, so the team has to put a lot of effort to launch the P2P rental service in April 2018
- The initial focus on $20mil+ properties on the European Market is a very hard share of the market, where the big investment funds are involved in
Let us know in the comments your views on this ICO, the real estate market and what ICO from the real estate market are you interested in.
Disclaimer: The views expressed in this article are solely the author or analysts and do not represent the opinions of ADSactly on whether to to buy, sell or hold shares of a particular crypto currency, cryptographic asset, stock or other investment vehicle.
Individuals should understand the risks of trading and investing and consider consulting with a professional. Various factors can influence the opinion of the analyst as well as the cited material. Investors should conduct their own research independent of this article before purchasing any assets.
Past performance is no guarantee of future price appreciation.
Author: @alexvan
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Vale el riesgo invertir en esta cripto?
Cada ICO es arriesgada, puede perder todo.
Great review! I have a question though.. One thing that I have trouble figuring out with these RL tokenization-projects is: How are they going to enforce it? I mean, sure you can tie property in the real world to tokens and divide those tokens and spread them around. But when push comes to shove, how will it be lawfully tied together?
Speaking of which... anybody interested in buying a bridge? I've got one for sale in San Francisco.. 😁
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Hi Pandorasbox - I consult with ATLANT, and may be able to shed some light, here.
ATLANT, when it launches, will be like a NASDAQ, but for real estate assets. That, in a nutshell, is what makes it unique and potentially revolutionary. Because it's difficult, for various reasons, to tokenize property directly, ATLANT will tokenize SPVs (Special Purpose Vehicles), a common type of corporation for owning real estate assets.
Just as traditional shares can be issued by a corporation, so a cryptocurrency token can be created by a corporation. Relevant law is, admittedly, not nearly as defined for anything related to cryptocurrencies as it is for traditional currencies - but there is still a direct line between the token created by each SPV that will list properties on the ATLANT platform, the SPV itself, and the relevant properties that the SPV owns.
ATLANT will also perform due diligence on all facets of each listed property to be sure it is free of liens, etc., via our legal partners in each relevant jurisdiction, before allowing it to list on the ATLANT platform.
And so, just as any publicly-traded company is pre-vetted for anyone who wants to buy its shares, so the individuals tokens available for buying, selling and trading on the ATLANT platform will have their controlling corporations and the properties they own, pre-vetted, as well.
How enforceable it all is, in terms of anything tied to cryptocurrency, is a question tied to the rapid evolution of related cryptocurrency law.
However, not only is the relevant real estate law enforceable, in ATLANT's case, it's a non-issue: a given SPV and its properties are qualified to list with us - or they're not. And it's very difficult to fake the requisite proof - especially to our legal partners who know the applicable real estate law in any jurisdiction.
Our initial minimum requirement to list on the platform, in terms of property value will be €20 million. Per that level of value, the entire history of such a property will have every pertinent aspect of it recorded as a matter of public record.
I hope that helps clear up how ATLANT plans to handle such matters, in any case. The ATLANT platform is scheduled for launch in March 2018, and we should be in good shape to meet that goal. For further details, please see https://atlant.io/ - thanks.
Wow, thanks for the long and thorough response @dougsandlin ! I must say my knowledge on legal issues is lacking, and as a non native speaker of English it doesn't make it any easier to fully understand everything you wrote.
If there will be laws that can connect tokens lawfully to property then for sure you are in a good place and this is probably the main objective for any tokenization project. I see many hurdles and uncertainties in this regard though, because it'd almost have to be an international law, seeing as blockchain is decentralized and not limited to nationstates? So a lot does depend on what regulation will determine. I mean, what if ATLANT goes bankrupt, who guarantees that my tokens are still worth 1/100th of a project?
I think we're definitely going to a tokenized world though. I'm just not sure how, and more importantly when, as a lot seems to depend (in my mind) on governments and regulations. Currently governments seem to have a love/hate relationship with crypto.
Good luck with the project though I definitely hope you succeed because if the wind blows your way then I think it's a great idea! You seem to be well versed in these matters and know your stuff, in any case!
Hi @alexvan - Thanks for doing this article - we appreciate it.
To address some of the risk items you mentioned above:
Number of transactions will not be high enough to cause problems in terms of speed.
We have real estate expertise via our advisers and partners - note the multiple people between our core team and advisers with experience with Knight Frank, and Berwin Leighton Paisner, a leading European legal firm with a focus in Real Estate.
Other members of our leadership team, notably our CEO and CFO, have significant backgrounds in finance and international economics, which fill in some of the key, specialized knowledge areas needed to launch a successful trading exchange.
The ATLANT platform is more dependent on that knowledge, along with the technical, cryptocurrency and exchange-related knowledge depth of our CTO and his core development team, than it is on real estate specific knowledge.
We are not at all dependent on blockchain adoption by anyone else. Working with state entities after they adoption blockchain is a long term "moonshot" goal of ATLANT, as stated in our white paper, but is not, in any way, tied to our core business model. If that never happens, we'll still be very successful.
Our road map is tight, but we are actually a bit ahead of schedule with various code releases, per our GitHub repository and related announcements.
The initial requirement of €20 million to list on the ATLANT platform is not only not restrictive, but self-regulating: a given property owner has interest in listing and creating a property token, or they do not. Suffice it to say that interest is quite high, and closer to launch, we may announce some of the initial property owners who will list with us.
I hope this helps clarify - thanks again for your article.
Hey Doug!
Thank you for dropping by and for the detailed information. It is always good to have some insight information.
The article is based on my research and on the information I could find on the web. Also the opinions stated are personal. I started the real estate series with Atlant.io as I see some difference between other real estate ICO.
You can see from other comments that I mentioned you released some parts of the platform.
Also I think it would be a good idea if you would join the adsactly discord channel, where we discuss cryptos and ICOs: https://discord.gg/gXMH3qu
Definitely keeping an eye on this. Real Estate is a mammoth market that could really benefit from blockchain technology.
There's also another Real Estate ICO called Xaurum Gamma, though much more limited (and maybe more realistic) in its scope.
@lavater, very intersting project. I will have also a look into it. Next post will be probably a view on LAToken , but Xaurum Gamma is worth also a post as it is realistic and has potential due to the location.
There is certainly room to disrupt the Real Estate market. NEM issues tokens tied to real world assets already. They have smart contracts. They are already used to trade assets in the real world. It is not clear why this or any other Real Estate-specific coin would do that job though. It is also not clear how they expect to solve the problem of fake reviews, seems like Steemit has a better solution model. In fact, I think Steem could be a great way to run rentals specifically.
Steemit is always step ahead
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The fintech world is nearer
What do you think about Atlant compare to Real ?
Which one has a brighter future according to you?
Both have interesting market approach. I would not say which is stronger at the moment. I will present Real in a future post. There are some interesting ICOs in the real estate market.
I agree yes. I will keep an eye on your post then thanks
Thanks for this nice short insight of this promising ICO!
Do they have a proper working plattform or demo already? Or are they giving just promises?
i like your good question .
The platform will be launched in March 2018, according to the road map. They've started to launch parts of the platform: https://medium.com/@atlantio/london-uk-7ccc9b6469bd
As with all high returns, there is a sizable amount of risk as the big players(investment funds) have the finacial muscles to manevuer the outcome to an unfavourable position.
But it may not happen for sure. Will continue to keep a lookout on this.
Of course there will be a major risk. The big guys will not let the market slip trough the hands. If the system is changed step by step, there are chances to overcome this.
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Great write up @alexvan!
I also stumbled across Propy the other day, but haven't had much time to further look into that one yet.
Thanks for the hint. I will look into it. I see that the market is moving and it would be a matter of time till some big change comes.
This looks amazing for the real estate market. Thanks for sharing.
blockchain world empowering more faster than robbotic world...welcome atlant in crypto world. hope to see you on top in future.
People with similar knowledge as me would be a problem. We file exemptions with property tax authority for the particular jurisdiction those records do not go into the Recorder of Deeds Office. This bypasses title, etc. which are governmental securities. Hard-core ownership is obtained and becomes more valuable to convey.
Real estate in blochchain is great. I am waiting to see ..life insurance and non life insurance in blockchain.
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Do you think LAToken and Atlant will be direct competitors on the market?
Hey @kranich, I think yes, maybe not from the start but they will try to tackle the same niche at a moment. If you want I will present in the next post LAToken and the difference to Atlant.
Just a matter of time before a platform like this kills the broker business, but I've been waiting for a while now - it will be a fight among the players to become the preferred platform, blockchain powered or not :)
This is true. There are some platforms tackling this market share. It would be a fight between them and the regulations. In the end it shall be only of advantage as the fees shall fall.
Now this is something I can get behind! It's interesting that Atlantis is coming up more into the light these days too!
Very interesting estate platform. Ill pay attention on this
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Nice
Thanks for the update...came to know in detail about ICO..
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