Inel: investments, real estate, blockchain
One of the most reliable and profitable investments is the purchase of real estate abroad. Firstly, this type of real estate is considered a source of regular income, and secondly, having real estate abroad, you always have the opportunity to break out of the daily rush. However, before buying or building foreign housing, some issues need to be addressed. For this, the INEL project was created.
about the project
INEL is a new project that allows people to earn real estate. INEL will choose the best deals for you. The project analyzes a huge amount of information and data to find the best solution for passive income on real estate for you. The project allows tokenize the market, conduct risk prevention and simplify the overall process of choosing a home.
What problems arise in the real estate market?
1. Land conflicts
Land conflicts are a critical issue in many developing countries. Incorrect documents, damaged documents and corruption cause complex disputes about property and do not allow the use of land.
Blockchain-based smart contracts offer a new alternative for registering land rights. Moving all documentation to a decentralized and secure registry can be the most efficient way to manage and own land, help avoid disputes, and ensure that records are not changed or lost.
2. Data collection and comprehensive verification
It is well known that it is difficult and expensive for real estate companies to check all the important details of real estate before renting or acquiring.
By providing the ability to store all building data, such as repair records or floor plans, in a digital and safe place, blockchain can significantly help investors carefully check all the details of the property. This technology can even be used to track the movement of building materials throughout the life cycle of a building, from the factory to the demolition and disposal of parts, which makes it easier to track the origin, quality and age of each part.
3. Investments
One of the main disadvantages of real estate as an asset is its low liquidity. The transfer of ownership of the blockchain book, its division into small fractions and the availability of digital fractions in the form of tokens (i.e. tokenization) creates a new way for investing in real estate. This allows owners to sell their shares on the open market without the need to sell property. Thus, tokenization also helps with another shortcoming of real estate: a high threshold for investment for small market participants.
4. Project Management
When we think about the transition of the real estate investment market to the digital realm and the codification of agreements in smart contracts, the first question we ask is land ownership and transfer agreements. However, even with complex issues such as project management, you can manage it through the blockchain.
Think of the project as a long list of deals between different parties. These transactions may constitute an agreement of any type regarding the stages, payments or goals achieved. All transactions can be encoded into a series of smart contracts that can be automatically executed after each specific step.
5. Financing
If you have taken a mortgage at least once in your life, you probably know that this is a complex process. The average size of a mortgage application is 500 pages and takes from 30 to 60 days. Blockchain technology reduces the need to rely on paper and individual communication lines, saving not only money but also time. Such elimination of intermediation will benefit not only borrowers, but also those financial institutions that can offer more competitive conditions for a more economical lending process.
6. Property management and rental
Blockchain technology offers management and service companies new ways to track user information and improve customer service. Smart contracts are structured for automatic rental payments, and you can even anticipate that property management fees can be automatically calculated and levied using data from IoT devices and utility bills.
7. Buying a property
In recent years, real estate investment has grown by several hundred billion dollars. As investment grew, international buyers needed to avoid fraudulent transactions and act in a transparent environment.
How does INEL solve these problems?
An example of using blockchain to solve these problems is INEL. The project aims to simplify the process of buying, selling and renting real estate in the domestic and international markets through smart contracts. We plan to create a market consisting of a platform for listing objects and a platform with transactions for exchanging documents that do not need third-party agents to process transactions.
The main applications of blockchain technologies on the INEL platform are:
- Real estate for rent through online services.
- Buying and selling real estate without intermediaries.
- Real estate investment.
- Valuation of property.
- Redevelopment of real estate.
One of the main goals of INEL is to automate the market, which includes eliminating unnecessary costs for contractors and realtors, accelerating transaction processes, ensuring their transparency and stability, as well as eliminating paper work.
Why do we need tokenization and why is this project special?
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