Hello Mark, what is Dominium?
Dominium is a global platform for everything to do with property; made possible by Blockchain technology. The Dominium platform has a suite of features and tools to help real estate professionals, investors and authorities with the trade, finance and regulation of real estate assets.
It is property marketplace, a client relations tool, a project management system and a legal compliance resource, all in one. In time, we hope that the platform will become widely adopted to the extent that it can become a type of decentralized global land registry, where real estate transactions are recorded on the Dominium Blockchain on an international level.
Dominium is currently in Beta but already has 30,000 users in 165 countries and is operational in 15 languages.
How important is a decentralized platform to the property market? Are there any added benefits and opportunities for growth with this?
Blockchain technology when applied to the property market could be game-changing. As a long-term property investor and professional myself, I am acutely aware of the limitations that centralization places on my industry. It seems that banks, lawyers, estate agents, fund managers and the likes affect the property market’s ability to evolve and progress in line with technological advances.
We at Dominium are trying to create a world in which property transactions are transparent and open to all, within the limitations of regulation of course. For example, if someone wants to know if a property is under offer, they would currently have to ask their agent and trust their answer. With blockchain technology, they could simply look at the online ledger and see for themselves- no trust in a third party required.
The benefits apply to professionals too; antisocial behavior from tenants, shoddy workmanship by builders and dishonest outbidding by buyers could all theoretically be reduced, if not eliminated, by the transparency of blockchain. The possibilities within the space are quite overwhelming but, as far as we are aware, we are the first to attempt to bring the property world into the high-tech space on such a broad scale.
The property industry will not change overnight and such a profound transformation will take a great deal of time, careful assessment of legal implications and regulatory compliance, but the potential that decentralization presents is enormous.
What is the current size of the market and what is the three-year forecast looking like?
The global property market is reputed to be worth $217 trillion. It is one of the most stable industries in the world, especially if viewed over many years. It is difficult to forecast such a vast global market, but property has been traditionally viewed as one of the safest and most stable investment sectors.
How much of the market share do you envision capturing in three years?
We are aiming to reach at least 500,000 properties listed on our database within the next 3 years. We have already achieved tens of thousands of users on the platform in a short space of time, and are aiming for broad, international adoption within the early years of the company. We have been approached by real estate professionals wishing to list on the platform already and are in the process of listing our own property assets. With the variety and quality of tools that we offer, and the potential to undercut property related costs dramatically, we believe that we can disrupt the market relatively quickly.
How soon will your tokens be tradable on exchanges and any hints of which exchanges will be trading?
The next major step towards trading the DOM token is the launch of the Dominium childchain, which is being provided by Ardor. We expect to have the token registered and tradable by the end of the year and are in contact with several exchanges, but we cannot disclose on which exchanges DOM will be traded at this moment.
Briefly run us through the process of your token sale.
The seed and pre-ITO rounds are now closed, and our Initial Token Offering was opened on the 3rd September 2018. There are four rounds to the ITO, in which DOM are available at €0.10 until 125,000,000 tokens are sold, €0.15 until 250,000,000 tokens are sold, €0.20 until 375,000,000 tokens are sold and €0.25 until 500,000,000 tokens are sold. The closing date will depend on how quickly the DOM tokens sell out. Tokens can be purchased from within the Dominium platform, and we accept EUR, BTC, ETH, BCH, LTC, BNB, NXT, ARDR and IGNIS.
The more unusual thing about our ITO is that we are going to use the majority of the funds raised to purchase property. Having managed property funds and portfolios, we decided that, rather than having a finite financial resource, we could use the money to invest in property, just as we have been doing very successfully for many years. This gives the company a unique financial stability, and the ability to support the long-term development of the platform. It also gives us the ability to maintain the value of the DOM token: Dom tokens used on the platform will be destroyed, and we will also buy back DOM from holders, thus securing both demand and coin value stability. We believe this to be a win-win for token holders and for the Dominium platform going forward.
Thanks for your time Mark, we wish you a successful crowdsale
Thanks to you too and the entire ICOWatchlist team, you guys have been very cooperative and responsive in a timely manner.
For more details, follow the Dominium ICO here.