SMART REALTY
Real estate transactions can be some of the most complicated and burdensome undertakings
many people ever participate in. Even the simplest lease agreement is rarely fully understood
by the parties signing it. Additionally, enforcing the terms of these contracts can take
significant time and effort on both sides, landlord and tenant. Many landlords waste countless
hours in their attempts to collect rent payments from their tenants and terminating the
tenancies of those who are unable to pay, and many tenants have trouble recovering security
deposits or compelling landlords to do repairs in a reasonable timeframe or otherwise abide
by their various obligations under the law and the terms of their leases.
SMARTRealty believes many of these problems can be solved, or at least significantly
reduced, by applying smart contract technology to the real estate sales and rental market.
No one can deny that a digital revolution of some form is currently taking place. This is
creating a huge opportunity to change the way we transact, especially on a person-to-person
basis. Cryptocurrencies like Bitcoin, Ethereum, and SMARTRealty tokens are in a prime
position to transform the way we transact with one another, and smart contract technology
can transform the way we record and enforce contracts and agreements, reducing the need
for long drawn out court battles and dispute resolution processes.
The purpose of SMARTRealty is to allow users to execute, record, and enforce real estate
transactions using a system of smart contracts known as SMARTRealty Contracts. The smart
contracts can replace traditional contracts such as leases/tenancy agreements, ownerfinancing
agreements, contracts for sale, and even mortgage agreements.
What makes SMARTRealty contracts preferable over traditional contracts is that they can
eliminate various human elements outdated technology resulting in a reduction in legal,
accounting and transaction costs, and a significant reduction in fraud, corruption and legal
disputes and their associated costs.
THE PROBLEM
Contracts made between individuals with little to no legal counsel, as most rental and lease
agreements are, are often the subject of dispute, debatable obligations and meanings, and
countless misunderstandings. Every jurisdiction in every civilized country in the world is full of
landlord-tenant disputes and courts are over-burdened by these disputes every day.
Even real estate purchase and sales agreements handled with the help of lawyers, real estate
agents, mortgage brokers and lenders, escrow companies, title companies, and other third
parties are the source of many legal disputes.
Whether it's a landlord failing to return a security deposit to a tenant, a tenant disputing the
deductions the landlord made to the security deposit, a landlord attempting to terminate the
tenancy of a non-paying tenant, or a seller who owner-financed the sale of his home and now
needs to foreclose due to non-payment, this is a market that could seriously benefit from the
rigid terms and conditions and automated and autonomous processes that smart contract
technology can provide.
THE SOLUTION
SMARTRealty believes that while we may never be able to eliminate contract disputes
completely, we can significantly reduce them, as well as the time and effort spent settling
them, by applying smart contract technology to certain types of agreements.
SMARTRealty's goal is to initially apply smart contract technology to residential leases, and
provide a platform for landlords to advertise their rental units and homes to potential tenants,
with SMARTRealty smart contracts governing the transactions.
Over time, as laid out in our roadmap, we plan to branch this platform out to include
residential and commercial real estate transactions, including rentals, sales, and even nontraditional
transactions such as owner-financing and lease-option agreements.
WHAT IS A SMART CONTRACT?
In 1994, Nick Szabo, a legal scholar, and cryptographer, realized that a decentralized ledger,
such as the bitcoin or ethereum blockchains, could be used for self-executing contracts. In
other words, contracts could be converted to computer code, stored and replicated on the
system and supervised by the network of computers that run the blockchain. This would also
result in ledger feedback that could include the transfer of money and ensuring that a product
or service was delivered and received as agreed.
Smart contracts help you exchange money, property, shares, or anything of value in a
transparent, conflict-reduced way while avoiding the need for a middleman. Smart contracts
not only define the rules, terms, and penalties of an agreement in the same way that a
traditional contract does, but they can also automatically enforce those obligations or enforce
the agreed upon penalties for failure to perform obligations.
“Blockchain technology streamlines the real estate ecosystem by enabling people to
securely and efficiently share data and money. It makes information more accessible,
cuts out middlemen and reduces the risk of fraud and theft. A more secure, speedier,
trusted process for buying and selling property is good for everyone involved.”
- Matthew Murphy, Global Vice President at Renren
“Smart Contracts are where the rubber meets the road for businesses and blockchain
technology. While a few highly specialized distributed financial services use cases for
blockchain have appeared—for example, payment ledger services for the Yangon
Stock Exchange in Myanmar. Its services on top of blockchain that are really
interesting. In the Yangon Exchange, it solves the problem of distributed settlement in
a trading system that only synchronizes trades twice a day. But the autonomous
execution capacities of smart contracts extends the transactional security assurance
of blockchain into situations where complex, evolving context transitions are required.
And it’s this possibility that has Amazon, Microsoft Azure and IBM Bluemix rolling out
Blockchain-as-a-Service (Baas) from the cloud.”
– Patrick Hubbard, SolarWinds
INITIAL TOKEN OFFERING
An Initial Token Sale is an event in which an organization swaps all or part of an amount of
blockchain-based tokens for other cryptocurrencies in order to raise funds. Token holders are
incentivized through loyalty rewards based on the amount of tokens owned. The potential
increase in the value of the token, due to its usability for various different applications, is also
a driving incentive for participants.
We believe that token sales are the future of crowd sales. This token sale also represents the
perfect opportunity to invite people, especially from the world of blockchain and
cryptocurrencies, into the SMARTRealty community and enable them to take part in our
success story by contributing to all aspects of the project, from product development to
marketing to strategic partnerships.
The SMARTRealty token is called RLTY. Our pre-sale period is ongoing now, and the official
public token sale begins on February 15th, 2018 and will last for 90 days. Anyone participating
in the pre-sale is entitled to a bonus of up to 50%.
There are 500,000,000 RLTY tokens. 20% of those tokens are allocated for the pre-sale, and
20% are allocated for the actual ICO period. The total RLTY token allocation is as follows:
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To more information click link below :
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Author : Sd_angeL
Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=1926500
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