Instant Asset Token Provides real-world solutions & utilities to your real assets

moneymayskiy (25)in #iat • 6 years ago

IntroductionHi dears, another interesting project is being started. First of all, for who missed previous entry, what’s a cryptocurrency? To be fast and concise, it is a digital medium of exchange. And the next question would be… What’s your use? It is also easy to guarantee the security, integrity and balance of your financial statements by means of a network of agents (segmented file transfer or multisource file transfer) that verify (untrust) each other called miners, which are, for the most part, general public and actively protect the network (the web) by maintaining a high rate of algorithm processing, in order to have the opportunity to receive a small tip, which is distributed randomly.All this racket of cryptomoney has been increasing exponentially, however, most people know nothing about how blockchain technology works, what a smart contract is and how it could be used. For this very reason, I will first of all carefully introduce this type of block chain technology.Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, paypal, etc.). The blockchain is the technological basis for all cryptomontages, whether Bitcoin, Ethereum, Hyperledger, etc.An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant’s database). It basically defines the conditions to which all parties using the contract agree. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.

After this brief introduction to the broad topic of Blockchain and Smart Contracts, we can already see that this technology opens many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.For this reason, that is why I choose the best of them through an exhaustive study of the main characteristics. Today, the project I am going to present you is the Instant Assets Tokens, a better way for make property investment easier through the digitization of assets.

Reduced costs

The cost of real estate transactions, such as sale, purchase or lease, often includes not only the cost of the real estate itself, but also the services of various intermediaries (brokers, agents, realtors), as well as taxes, and therefore the final price of real estate is changed to 17 -24%. As a result, either the owner of the real estate has to lose a significant share of the profit by paying for the services of intermediaries and other expenses, or the buyer (tenant) of real estate is forced to overpay for its purchase (rent) up to 24% of the original cost.The task of IAT is to reduce the cost of intermediary services, thereby reducing the cost of buying, selling and renting at least twice. Thanks to the technology of blocking and tokenization of real estate with the help of IAT tokens, both property owners and their counterparties from among buyers and tenants will be able to save part of the funds that can be used for other purposes.

Save time

The solution, such as the tokenization of real estate with the help of IAT, is another significant advantage - the possibility of saving time. The problem is that in order to carry out the operation with real estate, in addition to a large amount of money, you have to spend a lot of time, up to several months, no matter what this operation is, of course, if it is a question of major operations, and not about household daily rental housing. Such a long period of registration of transfer of rights to real estate is connected, primarily with the participation of third parties, which perform various intermediary functions, as well as the need for verification and documentation. The IAT platform will provide real estate market participants with the full functionality associated with operations, allowing significant time savings for their implementation.

Elimination of restrictions for foreigners

The establishment by governments of countries of all kinds of restrictions on the purchase of real estate by foreign investors is a common practice. Such measures are introduced in order to prevent uncontrolled growth of the market, slow it down and prevent the real estate market from "turning into a soap bubble". Tokenizatsiya real estate by using IAT tokens and individual tokens for each country - NIAT, which are tied to a specific real estate market and a specific national currency, will be an effective way to get rid of the negative consequences of imposing restrictions on foreign property purchases.