IHT Real Estate Protocol
|Creation Date||Q4 2017|
IHT aims to tokenize real world properties, create shares, and sell these shares to investors.
IHT REP is quite a complex project that haven’t done anything to make their concept easy for users to understand. You need to read the 22-page long white paper to get an idea about the goals of the project and even it is not that clear.
What is IHT/ What does the Platform do?
IHT isn’t the easiest project to understand. It defines itself as a “real estate protocol global real estate blockchain cloud platform – a new way of asset management”. Note that there is no platform as of now and all of the details given are just a business plan.
The IHT platform offers landlords worldwide to list their properties for sale by means of dividing their property into shares, using a smart contract. The platform then gives them a way to sell shares of their property to multiple investors, if they can’t find an individual buyer. IHT also claim in their whitepaper that they aim to buy real world properties in different countries and also list those on their platform. However, it isn’t made clear how it will have the means to do this.
- Listed properties on the platform will be priced in IHT tokens. For example, a landlord can list his property and define the price as 1.000 IHT tokens. Anybody is free to set their own price.
- After setting up the price, the property will be split into “shares” by the owner. For example, an owner can split his property that is worth 1.000 IHT tokens into 100 shares. After that, users of the platform can buy those shares with IHT tokens. In practice, the landlord tokenizes his own property and sells it to multiple people. Shareholders will be the owners of that property.
- The landlord can set up a repurchase time too. For example, he can set this period as 1 year with an annual return rate of 10%. This means the landlord can buy back the shares of his property in a year from the holders, if he is willing to pay a 10% interest. Note that this is optional and landlords can choose not to repurchase their properties.
- Shareholders can keep selling their shares. Since IHT is a smart token, it is linked to the property so there are no problems in regards to keeping track of the shareholders. If the landlord decides to repurchase his property, he can do that no matter how many people hold the shares.
In summary, landlords are able to sell property in shares via IHT tokens and can repurchase it after a certain period of time, if they chose to. IHT is basically a liquidation platform for landlords.
|Block Time / Transaction Fee||–|
|Current Value (Total)||$ 85,667,320|
Ricky NG, the founder and the CEO, is a former business manager of Yahoo. In addition to IHT, he is also the owner of a company iClick Interactive Asia Limited. He has no previous experience in blockchain technologies. The team are largely China based.
There is a link to John McAfee, the billionaire famously making headlines in the cryptospace, and he seems to be offering advisory support.
IHT have accounts on Telegram, Facebook, and Twitter and are fairly active on all of these platforms, and there is a certain interest in the project. IHT was promoted fairly heavily at ICO with paid reviews and However, we cannot call it a hype.
|Can Be Traded In||Gate.io, OEX, HitBTC, Kucoin, LBank, DDEX|
|Can It Be Used in Real World?||No|
The roadmap of the project is:
- Q1 2018: The beta version of the platform becomes active
- Q2 2018: Official launch of the platform (they missed this one too)
- Q4 2018: Expansion to the USA, Australia, and Europe
- Q4 2019: Coverage of 10 major countries in the world
- Q4 2020: Reaching 50 billion dollars in terms of assets, become the world’s biggest real estate cloud platform (yes, the goal is really written like this)
Problems with IHT
Legally, you cannot own a property with crypto tokens. It is simply not possible. The laws and land regulations clearly state the conditions of becoming a property owner. Crypto-tokens aren’t listed or recognized by any country for rights to property ownership. This is a “virtual” sale and might not stand up in court in the real world. Just because you have the “shares” of a specific property, doesn’t mean that you have the right to use that property, and doesn’t seem that it would give you legal part ownership rights. And that’s why IHT tokens do not have a real value – one can’t add ones name to the deeds of a property via LandRegistry or any nation’s land registering laws for simply holding tokens to a share of that property.