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PlaceToRent (PTRT) ICO Review – ICO Token News

Introduction

The PlaceToRent decentralized rental platform is powered by blockchain technology, smart contracts, and utility tokens and is poised to revolutionize rental industry standards worldwide.  PlaceToRent is a decentralized peer-to-peer (P2P) global platform in the space of both long and shortterm residential and commercial rentals, such as homes, apartments, office, retail, and industrial space. We anticipate capturing real estate rental markets worldwide. While the costs and specifics of property renting/leasing may vary across the globe, both domestic and international market participants experience similar problems in the traditional process. They include such issues as inefficient property search process due to fragmented listings data; outdated rental platforms; non-transparent rental experiences; high commission fees; exclusion from the rental market due the lack of credit or work history for low income or young households, etc. In light of rapid advances in technology fueled by ubiquitous broadband internet access, the reliability of data centers, and improved software development tools, there has emerged an urgent need to revolutionize the rental process by providing a solution powered by blockchain technology that will be efficient, beneficial, and inclusive for all market participants including tenants and landlords worldwide. Until recently, blockchain (a digital ledger in which transactions are recorded chronologically and publicly) was most commonly referred to as the technology powering cryptocurrencies like Bitcoin. However, rental industry participants now realize that blockchainbased smart contracts will play a much larger role in the rental market, potentially transforming property-related transactions including renting/leasing, management and rent/bill payments by means of utility tokens. This is the niche that PlaceToRent has identified and will seek to fill and dominate in the near future.

Commercial

Office occupancy costs are rising all across the world prompting employees to work in more dense environment. As the technology sector is growing, a new generation of firms is emerging where traditional downtown office space is now competing with alternative ‘outlier’ cities in ways not possible during the industrial age. As a result, these secondary cities are moving up rental costs. Globally, office rents moved up up by 1.5% in 2017, which has been a trend in similar rental performance for the last several years. The increase was largely driven by more buyoant rental markets in the Americas where costs increased by 4.2% and in Asia Pacific where they rose by 3.4% EMEA (Europe, Middle East and Africa) posted a fall of 1.3%. The most expensive cities by far remain London and Hong Kong. Retail locations experience a similar trend in the rental costs. For a retailer, a location is essential for brand equity representing increased sales and higher profit margins, therefore rents are only likely to increase further as cities worldwide grow and attract increasing numbers of visitors each year. It is anticipated that retailers will likely continue to pay increasing prices for the best, most transited and visited retail locations.

The Solution

PlaceToRent has designed an integrated ecosystem of commercial and residential rental marketplace powered by blockchain decentralized technology, self-executing smart contracts, and utility tokens with the aim to reduce the bureaucracy associated with renting a space, capitalize on major opportunities within the rental market, and provide users with new beneficial features. In particular, our platform will provide tools for such underserved segments of rental market participants as younger and low-income households (with invisible credit and work history) to stand out in low vacancy markets. Our unique powered by AI algorithms will allow the landlords to assess their creditworthiness outside conventional credit scoring procedures that alienate and penalize millions of people. The diversity of the underserved population creates opportunities for PlaceToRent to offer responsible, sustainable and innovative tools to a vibrant and stable demographic callously ignored by traditional rental process. PlaceToRent will strive to increase the level of rental market inclusion and expand the number of alternatives for the underserved. For each executed lease with a tenant who has no credit or work history, PlaceToRent will incentivize landlords and property managers by reimbursing any previously charged related listing fees and rewarding them with PTRT tokens. Our goal is to bring significant value to the rental industry and to offer to all rental market participants a fair, secure, and less costly experience within the rental process by removing the existing inefficiencies, and providing transparent transactions while reducing the need for a third-party oversight. To know current trend of ICOs, you can check ICO stats.

Payment with PlaceToRent Tokens

Executing a rental agreement on the PlaceToRent platform using smart contracts will address many of the challenges associated with tedious tasks such as rent collection, rental accounting, payment tracking, maintenance requests, and property management, enabling transparency in lease terms and transactions, and automating payments to landlords, property managers, and third-party service providers. Instead of sliding checks under the door or sending a bank wire, the PlaceToRent platform users will enjoy frictionless, touch-screen enabled transactions allowing them to make instant and secure payments from their PlaceToRent dashboard with our utility tokens. Our ICO token is the settlement unit of the PlaceToRent platform providing an essential utility for its users to interact within the platform, and acting as the main driver of the PlaceToRent ecosystem. Our token will continuously circulate within the PlaceToRent ecosystem and will be tied to all aspects of the functionality of the PlaceToRent platform. Utilizing PlaceToRent tokens will incorporate transaction speed, efficiency and privacy; eliminate any fees for credit card use or wire transfer; remove frictions associated with the time required for funds settlement, bounced checks or untimely recorded cash transactions; and minimize the risk of any fraudulent activity as all payments will be instantly recorded on an immutable ledger. Rent payment (or non-payment) history will also be recorded in the tenant’s digital profile, which will be a useful feature for landlords as a part of their due diligence process for prospective tenants.

Token Sale Details

The initial Token Pre-Sale will start on June 4, 2018 06:00 Los Angeles Time (PST) and will end on July 3, 2018 23:59 Los Angeles Time (PST). The main Token Sale will commence on July 4, 2018 00:00 Los Angeles Time (PST) and will conclude on the earlier of (i) September 25, 2018 23:59 Los Angeles Time (PST); or (ii) upon the amount of contributions received reaching $30 million USD (Hard Cap). PlaceToRent may extend the token closing date, in its sole discretion. Each extension period is thirty days and may be exercised up to three times. Upon token closing (or after the last extension exercised), in the event that PlaceToRent has not received a minimum of $1 million USD (Soft Cap) in contributions, the funds will be returned to contributors (less any applicable transaction fees). Check ICO list to know more about ICOs.

Team

  • Marvin Bear
    Marvin Bear
    Marvin Bear
    Founder and CEO
  • Carlos Gironda
    Carlos Gironda
    Carlos Gironda
    CTO and Sr. Data Scientist
  • Sachin Choube
    Sachin Choube
    Sachin Choube
    Lead Blockchain Developer
  • Rob Davis
    Rob Davis
    Rob Davis
    CMO
  • Dominic Donofrio
    Dominic Donofrio
    Dominic Donofrio
    Blockchain Developer
  • Jay Moar
    Jay Moar
    Jay Moar
    Copywriter
  • Alfredo Colina
    Alfredo Colina
    Alfredo Colina
    Head of Hispanic Market PR & Digital Marketing

Milestones

  • 1
    Q1 2017
    Global rental market research and analysis.
  • 2
    Q2 2017
    Interviews with industry professionals, investors and startups.
  • 3
    Q3 2017
    Concept Design; Technical Specifications.
  • 4
    Q4 2017
    Blockchain developers interviewed; Platform prototype.
  • 5
    Q1 2018
    Smart Contract prototype; Legal framework for the project; Smart Lock market research.
  • 6
    Q2 2018
    Proof of concept; Whitepaper creation; Token Pre-Sale Event.
  • 7
    Q3 2018
    Token Sale; Disbursement of tokens to contributors.
  • 8
    Q4 2018
    Development of PlaceToRent platform; Partnerships with third-party service providers.
  • 9
    Q1 2019
    Alpha-testing of the platform; Smart Lock technology specifications completed.
  • 10
    Q2 2019
    Beta-testing of the platform; Marketing campaigns in key markets,
  • 11
    Q3 2019
    Platform fully developed; Release of iOS and Android apps.
  • 12
    Q4 2019
    Official launch in North America, UK, Canada, New Zealand and Australia.
  • 13
    Q1 2020
    Tokenization of the platform; Multilanguage support.
  • 14
    Q2 2020
    Expansion to South America and EU; Marketing campaign in target markets.
  • 15
    Q3 2020
    Marketing campaign in target markets.
  • 16
    Q4 2020
    API integration with third-party providers.
  • 17
    Q1 2021
    Integration of Smart Lock technology (for both commercial and residential application) with the platform.
  • 18
    Q2 2021
    Expansion to Eastern Europe and Russian Federation; Marketing campaign in target markets.
  • 19
    Q3 2021
    Expansion to Asia; Marketing campaign in target markets.
  • 20
    Q4 2021
    Expansion to Middle East; Marketing campaign in target markets.
  • 21
    Q1 2022
    Expansion to Middle East; Marketing campaign in target markets.
  • 22
    Q2 2022
    Introduction of facial and/or fingerprint technology for data validation.
  • 23
    Q3 2022
    5% of global real rental market transactions.
  • 24
    Q4 2022
    Partnerships with Governmental Blockchains; Enabling data-driven utility service management and bill payment with tokens.

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