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July 24, 2018
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IAT ICO Review
Few industries are as profitable as real estate. Transfer of ownership is far from an easy process, however. Stacks of legal paperwork has to be read and signed, and numerous intermediaries want a slice of the pie. It takes a lot of time and costs a lot of money to trade in real estate. Fortunately, there are a number of interesting blockchain projects dedicated to simplifying this process. One of these is the IAT project.
What is IAT?
IAT is a team of people who want to revolutionise the real estate market, starting with the Philippines. One of the attractive features of this ICO is that IAT already has a functional management company in place. They are now seeking funding to develop their blockchain platform.
What problems will IAT solve?
The team behind IAT cite several issues with the current real estate market. The main aim is to cut down on all round transactional costs. The real estate market is currently inflated due to agents, taxes, brokers, and developers all adding to the transactional costs. In the Philippines, the cost of buying or selling a property is almost a quarter of the total property value. IAT wants that cost brought down to half. Another issue IAT wants to address is that of security. Because many properties on the market are of such high value, the buyers and sellers are often the target of hackers. The current system, albeit relatively secure, is not sufficient to protect all the parties involved in a real estate transaction. IAT wants to utilise blockchain technology to safely store the data of the buyers and sellers. There is also the risk of fraud and ownership disputes, which often results from a lack of transparency. IAT also wants to create this much-needed transparency, and thus eliminate these risks.
How does IAT work?
As mentioned, IAT wants to utilise the blockchain to secure client data. Because the data will be stored on a digital ledger that is decentralised, it will mean that it cannot be changed or manipulated in anyway by one single source. This will not only protect the data, but also save everyone money on much more expensive (and less effective) security measures. Another benefit of storing the data on a digital ledger is that it is there for everyone to see, thus creating the transparency that will prevent ownership disputes and fraudulent activity. Finally, the platform will be using the Ethereum platform, which means that smart contracts can be used as agreements between buyer and seller. This will further reduce the costs of the transaction, as a number of intermediaries will be cut out of the process.
What are the benefits of IAT?
The real estate market is very profitable, which means there is a high likelihood that the IAT tokens will rise in value. Because the market is ever expanding, the IAT project also has a lot of growth potential. The team behind the ICO already has a management company in place, and already has a lot of interest from investors.
Who is behind IAT?
The CEO is Lim Kim Hwee (AKA Raymond), the director is Chiew Zi Kai (AKA Bryan), the marketing director is Jovelle De Guzman, the PR manager is MJ Pojida, the events manager is Leo Salonga, and the operations manager is Marelyn Cubian.
Token distribution
45% of the tokens will be available during the official token sale. 33% of the tokens will be kept as a reserve. 13% of the tokens will be spent on operational costs, such as marketing, bonuses, and bounty programs. The final 9% of tokens will be allocated to the team members, their advisors, as well as the legal consultants.
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