When people are growing up and entering into adulthood, it is a goal of many people to purchase a home or own some real estate. However, buying a home or other property in the modern day is a lot different than buying in the past. Prices have skyrocketed in most areas of the world and this makes it quite difficult for most people to afford real estate, whether it be a home, apartment complex or business.
In order to buy a house on your own (or even with a spouse) you will need a sizeable down payment and even then, you might be looking at a mortgage that is well over a few hundred thousand dollars. For many people, this is too much and they begin to lose hope that they will ever be able to afford a home.
However, just like it has had a massive impact on various industries, technology might have the solution to this worldwide problem. In particular, the advancements in blockchain technology has brought about a solution to not being able to afford home ownership, and it is called Atlant. This article will look at Atlant and how it works, the features included in the platform and more.
What is Atlant and How Does it Work?
Atlant is a real estate platform on the blockchain that is making it easier than ever to get involved with home ownership. They do this by offering a tokenized ownership solution that is truly unique.
It is a very interesting process and could help a lot more people to get into real estate, without needing a ton of cash. The first step is that a property owner puts out a request to list the property on Atlant. Once an attorney or qualified professional ensures the property requirements meet the qualifications and make sure everything on the real estate title is clean.
Next, Atlant tokenizes the property by dividing the total value into tokens. 1 token equals 1 mm squared of the property, so there is a direct relationship between the tokens and the entire property value. After that has been done, Atlant will place the customer PTO (property token offering) on its trading platform, and individuals or businesses from around the world can purchase and own a portion of the property.
This will continue until the entire value of the property has been sold. Next, the previous owner will be paid and then the PTO tokens will be available to buy, sell and trade on the Atlant decentralized exchange. Those who purchased the tokens and shares in the property will be able to profit from rental income as well as take advantage of price changes on the property as well.
P2P Rental Service
The process for the rental service is similar to others such as AirBnb as you can book your rental online, however they claim to be a much more affordable option. You get your satisfaction guaranteed and if there are any issues, Atlant has arbiters that are experienced with conflict resolution.
What Are the Features of Atlant?
In addition to their tokenized ownership solution, Atlant features a variety of other great features, too. One in particular is their P2P rental service. The process for the rental service is similar to others such as AirBnb as you can browse for and book your rental online, however they claim to be a much more affordable option. You get your satisfaction guaranteed and if there are any issues, Atlant has arbiters that are experienced with conflict resolution.
Because it is on the blockchain and decentralized, everything is verifiable and there are tamper-proof records of all agreements and trades so there is no chance for shad behaviour, which can sometimes exist in the traditional real estate space.
Other features include divisible tokens (to fit the budget of anyone), price transparency, low fees, liquidity and stability of the tokens and so much more. If you want to learn or understand more about the platform, how it works or anything else, be sure to check out their whitepaper.
The ATL Token
As with many blockchain technology platforms, there is a utility coin inherent in Atlant, and it is called the ATL token. This token essentially acts as a membership to the Atlant platform, and offers several benefits and rights. This token is also how commissions and fees are paid in the platform. They had their successful ICO a few months ago and the ATL token can be purchased on a variety of exchanges.
The Team at Atlant
In addition to a solid idea and platform, Atlant also has a pretty impressive team behind it. The team is led by their three co-founders Julian Svirsky, Neil Mohinani and Denis Donin. Svirsky is the CEO of the company and has worked for years in many different areas of finance including hedge funds, analysis, investments and more. Mohinani is the company’s CFO and has over 20 years of experience at a variety of major global investment banks in fundamental research and trading. And last but not least Donin is the CTO of the company and is an expert in the blockchain and cryptocurrency space, with years of experience.
After the co-founders, the team is made up of other developers and industry experts with years of experience. Atlant also has a couple of different advisors that have decades of experience in areas like law, finances, research and more.
In conclusion, Atlant is a great way to get into the home ownership space without spending hundreds of thousands of dollars. It also comes with a variety of other features that give it a great chance to be successful in the long run. While it is quite ambitious, it solves a lot of the problems with real estate ownership and that in itself is enough for us to keep our eyes on this platform and project.