Despite the huge profit potential of the real estate industry, buyers and sellers of properties are faced with many challenges.
IAT hopes to maximize the benefits while minimizing the losses in real estate industry by use of the blockchain technology. By introduction of the Instant Assets tokens (IAT), the platform aims to make property investment easily available to the masses through the digitalization of the assets. Another area that the platform hopes to target is the transparency of the resale and leasing processes. Other utilities for the token will also be integrated which include paying for furnishings, legal fees, and fees for engaging tax auditors.
Advantages Of The IAT Platform
The platform hopes to bring solutions in the following ways:
Cutting Out Integrated Costs
The cost of buying and selling property is inflated due to intermediaries such as developers, agents, and brokers. The platform hopes to cut this cost by at least half.
Improve Integrity And Security
The decentralized nature of blockchain technology ensures that the records stored on it will not be changed or controlled by any source. This will provide security against malicious attacks of the user’s data.
Transparency Of Transfer
The information that is stored on the blockchain will be accessible by all. This will make the data transparent and immutable. The degree of transparency will eliminate any property frauds or ownership disputes.
Saving Time And Costs
Currently, property ownership transfers take months due to the different parties involved in the process. There is also need to verify documentation in different stages usually with the need of a lawyer. The use of blockchain technology will effectively address these issues by the use of a uniform source of information for all the parties that will be part of the transactions. Additionally, other emerging platforms that focus on issues such as payments can be integrated in the future. The platform will provide a listing platform minimizing buyers and sellers costs and time spent online looking for the right platforms to sell or buy their properties.
Allow Foreign Investors
Countries often put up regulations to impend the growth of the real estate market by imposing restrictions on foreign purchases in an attempt to prevent a bubble. However, the platform can be accessed by buyers and sellers from all over the world and will not have geographical limits.
The NIAT Tokens
The Native Instant Assets tokens (NIAT) Is the local equivalent of the IA tokens. It will reside within each individual real estate market and is pegged against the country’s native currency. Each country will have its own NIAT. The token will not be minted on its own and can only be purchased using IA tokens. The NIAT will be used for the benefits below:
- Receive commission from agents and brokers.
- Payment for brokers and agents commissions.
- Listing of assets for rent and sale.
- Receiving rental sale proceeds.
- Rental payment.
- Payment for asset management services
- Payment for tax advisory and other services
- Purchase of assets
- Payment for furnishing
- Payment for legal services
The IAT Tokens
The IA tokens will revolutionize the real estate industry with the help of blockchain technology. This form of real estate tokenization will be released through an ICO process. The token is found in the Ethereum network.
The IAT will be issued via a token sale and the total supply of the tokens will be 4,500,000,000. Each token is priced at 1 IAT=$0.01. The payment methods accepted will be ETH and BTC. The presale will start early April while the crowd sale will start on 15th April.
- Token Symbol: IAT
- Token Sale Starts: April 2018
- Token Sale Ends: June 2018
- Total Supply: 4.5 Billion IAT Tokens
- Hard Cap: 40 Million