Atlant aims to be the world’s real estate blockchain platform. Find out how the unique platform claims to work today in our review.
What is Atlant?
Atlant, found online at Atlant.io, is a blockchain technology that aims to disrupt the global real estate industry. The company is currently preparing for its ICO, scheduled for the beginning of September, during which it will sell ATL tokens. Atlant’s pre-sale is taking place throughout August.
Overall, Atlant wants to help users “invest, rent, [and] trade” real estate. The company introduces its concept by saying,
“You can buy and sell parts of a company by trading stocks, so why can’t the same be true for real estate? And why not quickly? Anywhere in the world? For less than a cup of coffee?
With Atlant, you can do all of those things. Atlant allows for the transparent and liquid trading of residential and commercial properties. All transactions take place on a decentralized exchange, and users can avoid the hassle of dealing with the legislation in each jurisdiction. It reduces the barriers to entry.
Atlant tokenizes real estate, allowing you to diversify your investment portfolio even if you don’t have enough money to say, buy a house and an office building in two different parts of the world. These tokens are transferable through the Atlant marketplace.
How Does Atlant Work?
Atlant is a blockchain-based platform that facilitates the transfer of tokenized real estate. Just like you would trade stocks or equities, Atlant allows you to trade real estate.
Properties are listed on the distributed ledger (the Atlant blockchain). Users can make transactions on this ledger – they can tokenize their real estate and offer it for sale, for example.
However, that’s not the only part of Atlant: the company is also developing a hotel and apartment rental system. Currently, hotel websites and booking websites (like AirBnB) take large, double digit commissions from renters and rentees. It’s a costly and inefficient system. Instead of charging 30%, Atlant plans to charge just 3%. They’re reducing costs by eliminating the middleman – the blockchain is the middleman.
As the Atlant introductory video explains,
“Real estate has been inaccessible to the masses for far too long; it’s time to open it up to the rest of the world. Be part of the platform that will democratize and decentralize property ownership as we know it.”
In today’s system, one owner purchases a property. If you’re buying a $500,000 home, then you need to transfer $500,000 to the home’s owner, and the home’s owner gives you the deed in return. Atlant plans to tokenize real estate. So instead of purchasing a home for $500,000, you can participate in the real estate industry by owning a share of a home.
There are two key elements to this system. Each element is designed to address two persistent problems in real estate:
Atlant will list real estate tokens that each represent shares in individual real estate assets. These tokens can be traded in a transparent and liquid way through the Atlant marketplace, allowing for efficient price discovery and a more efficient real estate market.
Atlant offers significantly reduced fees for both the tenant and lessor, along with minimized possibility of fake reviews and fraudulent ratings – something that plagues hotel booking websites and other accommodation search services.
Obviously, Atlant has some ambitious goals to revolutionize the real estate industry. How exactly does Atlant plan to do that? The Atlant.io website already explains some basic features of the platform:
Assset ownerships and rental agreements are guaranteed by blockchain technology. This technology provides a decentralized, immutable, hack-proof, and tamper-proof store of records.
Real estate assets are tokenized and freely tradeable on digital asset exchanges, which ensures price transparency and discovery.
Investments are denominated in divisible tokens, which allows users to diversify their asset holdings and invest in a range of assets – even if they don’t have a large amount of capital. Invest in a portion of a skyscraper in Dallas, for example, while also dipping your toe into Melbourne’s suburban residential real estate market.
Atlant aims to make the real estate market more liquid than ever before. With Atlant, buyers and sellers can trade property tokens without causing substantial changes in asset prices. It’s a liquid environment where traders can easily adjust their portfolio or adjust to changing trends.
Atlant virtually eliminates overhead, which means users pay substantially lower commissions on purchases and rental transactions, both of which are processed via smart contracts.
Transaction settlements and ratings are confirmed on the blockchain and cannot be modified after creation to eliminate disputes and improve real estate market efficiency. It’s a hack-proof, tamper-proof store of records.
The concept for Atlant first emerged in December 2016. By June, the company had created a prototype of the Atlant DAO. The presale and ICO are taking place in August and September, with the full platform scheduled to launch in March 2018.
By the end of next year, Atlant hopes to launch its P2P rental service and partner with government blockchains. By 2024, they hope to be responsible for 5% of global real estate transactions.
The company is led by CEO and Co-Founder Julian Svirsky, CFO and Co-Founder Neil Mohinani, and CTO and Co-Founder Denis Donin. The three have combined decades of financial industry experience, while Donin has 5+ years of blockchain and cryptocurrency development experience.
You can request alpha access to the Atlant platform through the official website at Atlant.io. The next step for the company is to complete its presale and launch its ICO.
You can purchase the company’s ATL tokens throughout August and September. The tokens are available at a price of 1 ETH = 1010 ATL (during the pre-sale) or 1 ETH = 505 ATL (during the ICO). The ICO is not officially available to residents of the United States.
If you want to learn more about Atlant and how they plan to disrupt the global real estate industry, you can view the company’s whitepaper here.