White paper

SERVICES

ESTATEin-Rentals

Renting of Real Estate assets is very common in every parts of the world. ESTATEin is an open source and p2p network platform for rental where token holders of ESTATEin can tokenize their property for rent and p2p transaction will be held between the tenant and lessor without any third-party involvement. We must all be familiar with many online services providing the facility to rent out such as Airbnb. However, with the blockchain technology, ESTATEin have directed these services in the decentralized manner and made p2p rental transactions beneficial for both the tenant and lessor in terms of little transaction fees(gas cost), no fake reviews and rating, fast and secured transaction. Global tokenized property is available for rent and the amount of rent can also be compared with similar other properties.

Hotels and properties available for rent worldwide are accessible through online platforms to which they charge a commission fee from both tenant and the lessor depending upon the location. However, most of data available on the services websites are not transparent because of fake reviews i.e via deleting or changing the reviews, fake rating via owner self-rating, biased information sharing by the agents, along with the problem of high cross-border transaction cost and commission fees. ESTATEin team considers all the problems regarding rentals and to sort out these problems we classify Rentals as a separate section or category on our platform. Some of the basic features are described below

ESTATEin platform will be a free, Rental open source for token holders, where any token holder can advertise their property (house, apartment, shop etc) for rent. There will be free “Ad”space for the ESTATEin token holders where they can tokenise their properties for rent.

Tenant and Lessor, both will submit their original documents including their passport, identity card and other documents required by the ESTATEin-Rentals to register as the user. Lessor will submit all their legal, verified documents of property which he/she wants to tokenise as rent with the ESTATEin-Rentals. Along with the Rental agreement approved by local authorities, our legal team will also verify the legal act of any given region or state. Once it is verified the Ad will be place from the lessor’s side according to the rental price provided by the lessor along with the market comparison.

To make the Ad listing free from fraudulent and biased information lessor will send a security deposit to the platform(escrow contract) and if someone gets caught in any fraudulent activity, their security tokens will be burned.

All the Ads listed in the ESTATEin-Rentals will be available for users after verification, done by legal team of the ESATATEin.

If any tenant is interested to take any listed property on rent and agree to the terms and conditions, he/she will deposit the rental payment as a security to the ESTATEin-Rentals, the same as deposited by the lessor.

ESTATEin-Rentals will confirm from both the lessor and the tenant about the confirmation of rental transaction. Once confirmed from both the sides only then the rental payment will be submitted by the tenant which will be transferred to the lessor. The legal agreement papers will have digital signatures of local authorities which will be transferred to the tenant and who in turn can utilize the property till the agreement time-span expires.

ESTATEin-Rentals will not charge any commission fee from both lessor and tenant. But both will have to pay a little transaction cost for doing a cross-border transaction (Gas required to execute transaction).

In-case of any dispute between the tenant and lessor, ESTATEin will play the role as a mediator for both the parties and try to resolve the issue according to the terms and conditions mentioned in the agreement Rentals. Fees will accordingly be charged to the losing party

ESTATEin will provide proper separate FORUM for rental ads and rental channel where all the information related to the rentals will be available globally according to given Region and States of the world.

Global hotel booking facility will also be available at ESATEin-Rentals including verified information about the World’s top hotels and their booking rates along with their rental booking facility for the token holders with discounted rents and low transaction cost.

ESTATEin-Buying/selling

A large percentage of Real Estate transactions are conducted through real estate agents because these agents have information and expertise on pricing, bargaining, formulating a property for sale and make buying and selling convenient for the common people. In addition, they also advertise, show properties on ground and take responsibility of paperwork and have access to MLS (a database that contains information about all properties listed by local realtors). Commissions for residential real estate brokers is about 6% for a home’s closing price so most commonly they charge 6% to both buyer and seller respectively which is a huge commission in cases of expensive properties.

For Example

First, to identify the tangible assets.

Second, to denote “rights”, associated with the ownership and use of the physical assets.

The third refers to business activities (operations, acquisition and disposition of the physical assets).

Direct marketing for buying and selling can be done directly through flyer, newspaper and other methods of advertisement but internet has provided an alternative way to offer inexpensive and potentially more operative platforms to facilitate directly to the owner such as FSBO or two-sided network. But these platforms have many complications such as non-transparency, high transaction cost especially payments across the border, property rights opacity, different tax inclusion, biased information, selling of non-possession area, price discrimination and delayed payment transfer etc. All these problems make the common individual out from the Global investments and lack the interest in investors as well as of buyers and sellers shrinking huge network to limits. ESTATEin team study and examine all the problems including the behaviour of buyer and seller who determine the market network. To sort out these problems and make real estate trade easier for both buyer and seller we classify Buying/Selling as a unique category on our platform whose characteristics are defined below;

ESTATEin-buying/selling aims to provide temper poof platform for both the buyer and seller and provide space for the sellers (individual owner, agents, any online platform member) who are token holders that list their Ad of property (mentioned region and states by ESTATEin), who then tokenize their property (house, land, apartment or shop) for sell.

To make the Ad listing free from fraudulent and biased information lessor will send a security deposit to the platform(escrow contract) and if someone gets caught in any fraudulent activity, their security tokens will be burned.

Seller will submit all their verified legal documents of property which he/she wants to tokenise to sell along with the verified copies of transfer of ownership-deed approved by local authorities which our legal team also verifies under legal act of given region or state. Once it is verified the Ad will be placed from the seller’s side according to the price provided by the seller as per the market comparison.

To make the Ad listing free from fraudulent and biased information seller will send a security deposit (depends upon the price of property) to the platform (escrow contract) and if someone is caught in fraudulent activity, their security tokens will be burned.

All the Ads listed in the ESTATEin-Buying/Selling will be available for users after verification done by legal team of ESATATEin.

Identity of both buyers and sellers will be confidential and will not be disclosed to anyone until both buyer and seller of specific property are willing to buy and sell respectively and deposit a security to the ESTATEin.

If any Buyer is interested to buy any listed property and agree to the terms and conditions, he/she will deposit the payment as a security to the ESTATEin-buying/selling.

ESTATEin-Buying/Selling will confirm from both the buyer and seller about the transaction. Once confirmed from both sides then payment submitted by buyer will be transferred to the seller and legal agreements papers with digital signatures of local authorities will be transferred to the buyer and along with the transfer of ownership.

ESTATEin-Buying/Selling will charge commission of total 1% fee i.e. 0.7% from buyer and 0.3% from seller. This fee is charged for the ESTATEin-Buying/Selling team who will be responsible for every type of legal documentation, property existence, fraudulent and ownership transfer, including all other local legal requirements of region or State.

Both buyer and seller will pay a little transaction cost for the cross-border transaction (Gas required to execute transaction).

In-case of any dispute between the Buyer and Seller, ESTATEin will play a role of mediator between both the parties and try to resolve the issue according to the terms and conditions mentioned in the agreement provided by the ESTATEin-Buying/Selling to which fee will be accordingly charged to the losing party.

ESTATEin will provide a proper separate FORUM for buying and selling properties where all the information will be available globally according to the given Region and States of the world.

Current Experience Enhanced with Blockchain

Booking

• Manually enter government-issued ID info

• Hosts rely on posted guest reviews and text messaging

• Covernment ID is securely stored and authenticated

• Guests and hosts rely on fully authenticated reviews

Payment

• Manually enter credit card data upon booking

• Payment released to host 24 hours after guest check-in

• Secure storage of payment credentials tied to ID

• Funds released per fulfillment of “smart contract” terms

Reviews

• Guests and hosts leave reciprocal reviews

• Review authorship can be difficult to trade

• Negative reviews can potentially be deleted

• Potential for “self-promoting” reviews

• Review is not accepted unless digitally signed by reviewer

• Review must be validated by historical paid transactions

• Reviews can be traced and do not disappear

Conflict Resolution

• Manually verify details of the conflict from both parties

• Extensive staff globally to maintain system order

• I nternational phone charges to service born by the disputor

• Lengthly process as platforms are not incentivised by speed

• Indeoencent arbiters incentivised to resolve conflicts quickly

• Self regulating P2P system without need for expensive staff

• Escrow system ensuring just decision-making

• Ability to quickly arbiter situations independent of location