Real Estate is one of the oldest assets known to man and is the largest asset class in the world with an estimation of over $200 trillion global value. Given this, you would naturally think real estate investments, sales and purchases would be efficiently managed, but that is hardly the case.
There are numerous hurdles in real estate investing and trading that are further worsened by the number of middlemen one has to go through for each transaction. Before you can purchase a property, you have to get it properly researched, a process that involves various steps such as title verification, and can take weeks if not months to be completed.
Moreover, when you’re in the market for a property, you have to deal with tons of agents, non-serious buyers and sellers and even fake listings and reviews, something that has been on the rise lately.
The use of blockchain technology shows a way around all this and the ATLANT Platform is leading the charge in the creation of a next-gen global real estate platform that employs blockchain tech and decentralized ledgers to change the way we manage real estate.
Their aim is to unlock the full potential of a sharing economy model when it comes to real estate and tokenize property for fool-proof real estate transactions that will cut out all the middlemen.
How will it be done you ask? The folks over at ATLANT want to divide land parcels into tokens that will be listed on decentralized exchanges using smart contracts on Ethereum that will lead to secure title transfers between owners, fractional holdings without all the hassles, global investment, sales and purchases without the additional hoops and considerable cost-saving due to reduction of overheads and middlemen.
With the ATLANT Platform, real estate transactions can become truly peer-to-peer or P2P and issues with both real estate investment and rentals can be solved. The platform is going to be open source and the team has plans for integration with governmental blockchain ledgers for real estate in the future.
Several European countries are experimenting with blockchain technology based title registries, and when adopted, this will revolutionize real estate as we know it. Goldman Sachs believes that blockchain based property registries can lead to savings of up to $4 billion.
This surge will also lead to normalization of real estate prices as competition increases and monopolies are weakened due to the decentralized nature of transactions. This is the technology real estate of the future truly needs.
Given all this, the folks at ATLANT feel the time is right to get into position for this upcoming disruption and become a leading contributor to the streamlining and evolution of real estate transactions around the world.