Placetorent

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PlaceToRent - PTRT Token

PlaceToRent is the next generation rental platform automating the rental process and leveraging artificial intelligence and machine learning to assist households with invisible credit/work history in gaining access to rental opportunities and affordability.

PlaceToRent Whitepaper is available on: https://ico.placetorent.com/wp-content/uploads/2018/04/Placetorent_whitepaper_2018_eng.pdf

About PlaceToRent[edit]

PlaceToRent is a decentralized global peer-to-peer rental platform in the space of commercial and residential rentals designed to facilitate and streamline the rental process through blockchain technology by providing transparent and efficient transactions while reducing the need for a trusted third party, and offer tools for such underserved segments of rental population as younger and low-income households to stand out in low vacancy markets. PlaceToRent is the first cryptographic real estate rental platform to leverage artificial intelligence and machine learning to assist households with invisible credit or work history in gaining access to rental opportunities and affordability. Their goal is to bring significant value to the rental industry and offer to all rental market participants a fair, secure and less costly experience within the rental process.

PlaceToRent Platform[edit]

As blockchain continues to evolve, it is challenging the status quo of the present rental market and its existing business models and processes. In response to greater demand for transparency and disintermediation, PlaceToRent has designed an integrated ecosystem of the commercial and residential rental marketplace powered by blockchain decentralized technology, self-executing smart contracts, and utility tokens with the aim to transcend consumer expectations and to capitalize on major opportunities within the rental market. To-date, we have conducted a thorough market research and analysis, defined the project’s technical specifications, and designed our basic feature platform prototype which is currently undergoing development. We hope to fund the continuous active development of the PlaceToRent project through our Token sale, and secure the necessary capital to grow and expand our operations worldwide.

PTRT Tokens[edit]

The PlaceToRent token (PTRT) is the native cryptocurrency of the PlaceToRent ecosystem that grants token holders access to services on the platform. The PTRT token is based on the ERC20 Protocol and is designed to facilitate a standardized global approach to the long and short-term residential and commercial rental process, with all transactions kept in a secure manner. PTRT token is the settlement unit providing an essential utility for its users to interact within the platform, and acting as the main driver of the PlaceToRent ecosystem.

PTRT Tokens Functionality[edit]

PTRT Tokens will be an essential utility for users of the PlaceToRent Platform as they will enable interaction within the PlaceToRent Platform and will act as the main driver of the PlaceToRent ecosystem. PTRT Tokens will effectively operate as an “in-app currency”, the sole purpose of which is to allow users to participate on the PlaceToRent Platform and undertake the following tasks:

  • Searching for properties;
  • Listing properties;
  • Using Smart Matching, Automatic Preapproval, and Suggested Rental Rate tools;
  • Conducting due diligence on properties/users;
  • Submitting sealed offers via the PlaceToRent platform;
  • Screening prospects;
  • Negotiating rental terms;
  • Entering in digital tenancy agreements;
  • Submitting payments with PTRT tokens;
  • Rating user performance and providing reviews;
  • Contracting third-party service providers;
  • Crowdsourcing move-in or rental expenses;
  • Reporting/resolving maintenance issues;
  • Using Dispute Arbitration system;
  • Using Online chat to stay connected.

It is expected that the PTRT Token will motivate responsible use and governance of the platform.

PlaceToRent Vision[edit]

By employing best-of-the-breed technologies, PlaceToRent is poised to deliver towards its grand vision to explore big-picture problems and dream up innovative solutions. The diversity of the rental population creates opportunities for PlaceToRent to offer responsible, sustainable and innovative tools to a vibrant and stable demographic ignored by traditional rental process. PlaceToRent strives to promote data democracy, increase the level of rental market inclusion and expand the number of alternatives for the underserved. It believes in a more trusted, safe, and equitable shared cyberspace where one can interact with each other directly in their digital communities and have a peace of mind that their counterparty is who they say they are, without entrusting a central organization with your data and privacy.

PlaceToRent Team[edit]

PlaceToRent team is an interdisciplinary crew of dedicated professionals from all over the world who are committed to transforming the rental experience worldwide using blockchain technology and who have the skills and knowledge necessary to deliver towards our grand vision. Their Engineering operations are based in Saudi Arabia, and the team and advisors come from US, Canada, European Union and Japan. Their work experience spans the fields of finance, data analytics, AI, engineering, research, development, design, system architecture, and retail.

Technology[edit]

As technology evolves rapidly, PlaceToRent continually analyzes its platform architecture and components and will apply appropriate technology in accordance with the tasks to be accomplished. Ethereum Virtual Machine, the most established blockchain-based distributed computing platform with smart contract functionality, is at the heart of the PlaceToRent platform.

PlaceToRent will look to adopt Raiden and Plasma as Ethereum’s Layer 2. The blockchain technology enables near real-time settlement of transactions, which provides reliable data and reduces risk. Smart contracts allow transacting peer-to-peer in a secure and transparent environment, mitigating the risk of fraud, abuse, and manipulation. The PlaceToRent peer-to-peer distributed network will record a public history of all transactions and retain a secure source of proof that they occurred. Automating transactions between the tenant and landlord eliminates the need for a real estate broker or agent, saving our users thousands in commission fees.

To address the blockchain's transaction speed, scalability, and privacy issues, PlaceToRent considers the Enigma protocol that uses “Somewhat Homomorphic Encryption Technology” with “secret contracts,” allowing data to be processed by nodes while being kept private. We will use machine learning to give our platform users the best advice possible. For example, PlaceToRent will implement bio-inspired computation and Swarm Intelligence to predict accurate rental rates in different geographical locations. The bio-inspired feature will become a self-evolving tool capable of generating the “best rental rate” solution. PlaceToRent will also implement Distribute Sparse Learning as a second layer to handle high-dimensional data. This approach will provide great insights to the platform users by identifying the best offers in the rental market, thus minimizing costs to tenants and maximizing profits to landlords.

PlaceToRent will strive to expand the number of alternatives for the underserved, especially younger renters who have no credit or work history, by utilizing hybrid forecasting. Their revolutionary algorithms powered by Artificial Intelligence will allow landlords to assess creditworthiness outside conventional credit checks and work verifications and will help a vibrant and stable demographic qualify for a rental opportunity. 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. Additionally, the PlaceToRent platform will enable qualified renters to finance their rental expenses through a built-in peer-to-peer alternative financing feature.

External links[edit]

See Also on BitcoinWiki[edit]