IAT - Instant Asset Token
Despite the massive increase in demand for real estate in the Philippines, caused by the growth of technology and the influx of foreign visitors, this area is not yet fully improved and has a number of unresolved problems. So, for example, questions about the transparency of transactions are still relevant, and the possibility of reducing the processing time for the subsequent transfer by anyone was not considered at all. Most of the identified problems of the industry can be easily and easily eliminated with the introduction of blocking technology, which, in fact, will be discussed in this article.
Realty Beacon Philippines Inc. (RBPI) is a Philippine property management company that deals with IAT properties.
IAT is a holistic ecosystem, the capacities of which are oriented to different areas of the real estate market. The platform will provide a number of services that affect the rent, purchase and management fees for these assets, fees for tax advice and legal services, commission payments, as well as a list and receipt of proceeds from the sale or lease of real estate.
Problems of the industry
At first glance, the potentially increasing profit on the real estate market can provoke an opinion that there are no shortcomings in the industry. However, this is not so, because the industry still requires improvement, the results of which, accordingly, will bring more revenue.
The problem of transaction costs
The total cost of buying and selling real estate in the Philippines sometimes increases to 24% of the basic cost. This is due to the high level of transaction costs that are levied on the part of tax collectors, brokers and agencies. By reducing this figure by at least half, through the provision of a unified system, it is easy to increase profit margins.
Using modern technology of blocking will allow storing all data in a strong block-chain. Data can not be changed, because Controlled by one source, which reliably protects against malicious attacks.
The problem of transparency
Technology blocking provides the ability to quickly resolve contentious issues. Given that all unaltered user data is stored on the same block chain, you can easily verify the authenticity of the property and eliminate all sorts of problems with a high degree of transparency.
The problem of saving time
The transfer of property, which is used in the modern world, can take from a few days to several months. This is due to the need to verify the documentation at all its stages of passage and with the assistance of an outside lawyer.
Using a single source of information for everyone with the help of blocking technology will significantly shorten the execution time of these processes and pay for them.
The problem of restrictions for foreign investors
Most countries are implementing rules for resolving a growing real estate market through restrictions on foreign purchases in order to stop the process of trading large quantities of goods or securities at prices that are dramatically different from their fair price.
These problems have led developers to the possible ways of their solutions, thanks to which the traditional way of investing in real estate and management will be easier and more affordable in its application.
The original offer of coins in the Ethereum network will be compatible with the ERC-20 standard. The funds raised from this ICO will be used to develop the IAT block chain, and the assets will be acquired to form the initial amount of resources in the IAT ecosystem.
The Instant Asset Identifier (NIAT) is the local equivalent of all IA tokens and will be linked to the national currency of the country. Its production will not be individual, NIAT is purchased together with the purchase of IA tokens. This procedure protects the end user from the volatility of the crypto-currency markets.
There are no additional fees on the platform, and the purchase of real estate will include costs for documentary stamp duty, transfer tax and a registration fee of between 2.25% and 3%.
There are also a few smaller costs that must be paid upon completion of the property, such as connecting the water and power source. It should also be noted that property of a certain value will also have a 12% value added tax (VAT) included in the price of the property. The sale of property is another set of fees, which includes a capital gains tax of 6%.
Reducing the total costs will provide the rapidly developing Philippine market with the growth potential in the next few years, which is due to the improvement of infrastructure in the country. We can say that the company is focused on the acquisition of commercial real estate, where the demand and the concept of joint jobs are increasing over the past few years.
Properties acquired by the company form the initial pool of assets for the IAT ecosystem. The management of the company will also provide asset management services for their owners. The participation rate will be reduced if transactions are performed through the platform using NIAT.
The project team
Dates of the Pre-ICO: April 2018 - 14 June 2018
The dates of the ICO: June 15, 2018 - August 15, 2018
Standard *: ERC20
Total number of tokens released: 4,500,000,000 IA
Cost: 1 IA = 0,01 USD
Accepted currency: BTC, ETH
Soft cap: 1 000 000 USD
Hard cap: 20,000,000 USD
Distribution of tokens
Distribution of funds
70% of the total amount of funds are intended for the acquisition of assets.
20% Funds allocated for the liquidity program.
4% of the funds were sent for the development of the project.
4% PR and Marketing.
1.4% Funds allocated for the team.
The remaining 0.6% are for agents, brokers and other owners.
The project of the Philippine IAT team is aimed at eliminating the modern problems of the real estate industry through the use of blocking technology and maximizing the possible benefits. The target markets of the company are countries with a developing real estate industry and high profitability of rent.