The blockchain promises to fix pretty much everything. When we look at the implications of blockchain technology, the list for potential applications is frankly huge. One big area that needs to be addressed is the global property market. This is where Dominium come to the fore, with their blockchain based solution for the broken real estate market.
The global property market is massively lucrative, but centralisation means that it suffers from antiquated technologies, complex regulations and control by authorities, middle men and financial institutions.
Banks, estate agents and lawyers make property transactions costly. Contracts, mortgages and complex negotiations make them slow and tiresome. Regulation and registration of property differs per region, country and language. And don’t get us started on taxes!
By placing property on the blockchain, with all the tools required to effectively trade, rent and manage property assets, the market could be opened up – with costs massively reduced, speed greatly increased and transparency significantly implemented.
Blockchain technology could be the answer to removing middle men, transcending language barriers and standardising the regulation and registration of property assets.
Dominium is composed of a team of real estate experts whom have a wealth of experience in the running of property investments, portfolios and developments. The team has had an interest in blockchain technology since the early days, as far back as 2012. As a result of this, Dominium has self-funded a project that is set to totally transform the face of real estate, via Dominium’s innovative new blockchain based technology. The global platform is already in Alpha with approximately 25,000 users in 165 countries and has been translated by the Dominium community into 15 languages.
The platform promises to standardise regulatory documentation to the benefit of private users, companies, funds and authorities. The backbone of the platform is total transparency. By way of the Dominium blockchain, all activities on the platform are irrevocably recorded, thus there can be no deception in a market that is currently rife with it.
Dominium is built on an Ardor childchain, an evolution of the time tested Nxt blockchain. This allows for a decentralised marketplace which can facilitate rental agreements, asset trading, management tasks and various other real estate related functions. What this achieves, is frankly fantastic.
A blockchain solution for the broken real estate market
The Dominium ITO is set to go live on the 3rd of September 2018 and will give crypto investors the opportunity to purchase the token native to the Dominium project, DOM. The company is also holding a pre-ITO sale, on the 15th August, whereby tokens are offered at an 80% discounted rate. Please click here for details.
Asset Backed Company
Dominium is a product of some major European real estate companies, whom have already pledged and begun transferring several million euros of their own property assets to the company. Upon the completion of the ITO, Dominium will go further, with the purchase of real estate across Europe. The purchase of property will create a rental income for the company, allowing the team to progress their project and pass out from the beta-phase, as well as ensure the financial security of the company’s future, platform development and token value. For a video explanation of the DOM token economics, please click here.
“We have taken every possible precaution to ensure we are not just another failed ITO. Funds have been carefully allocated, and distribution will be supervised by a third party Company Administrator,” says Dominium. “By investing ITO money into real estate assets, we are truly bringing the ITO phenomenon into bricks and mortar territory”.
By 2019, Dominium will be open to third party asset creators and property listers, thereby creating, in effect, a global property registry. The scope of the platform does not end there, however. In theory, the Dominium platform could remove all need for estate agents, notaries, property lawyers and other middle men, thereby reducing the cost of property transactions significantly, and increasing transparency in the broken real estate market.
You can find out more about the project and the DOM ITO for yourself on the Dominium website and social channels: