What is Arevalor?
The Arevalor Platform addresses the illiquidity issues and significant systematic friction of the current global real estate market via the utilization of its Land Property Transfer Protocol (LPTP).
LPTP is a system of proprietary smart contracts created by Arevalor and built around existing legal framework. LPTP creates and executes legally binding real estate transactions and logs permanent and immutable records onto the blockchain. The Orbus token (ORB) is the key that unlocks the power of LPTP contracts by providing the “fuel” needed to perform transactions and create storage on the Ethereum network.
LPTP massively simplifies intra-jurisdictional real estate transactions by allowing the rules and regulations of each jurisdiction to communicate with each other to meet the ultimate goal of completing a transaction. The platform is a “living” code structure, as it is continually adapting to a dynamic real estate environment, ensuring that two parties from anywhere in the world can successfully conduct business with each other. A domestic deployment will be targeted initially, with continuous updates implemented as Arevalor expands to new jurisdictions.
LPTP also significantly increases the speed of transactions via an electronic phase-gate approval process. Prior to the initialization of a transaction, all user identities are verified via Know Your Customer (KYC) processes. A user provides their personal details as well as a scan of their photo ID; then a set of ETH wallet addresses are generated and permanently linked to the user. These addresses are then used by the LPTP’s smart contracts any time the protocol interacts with that specific person. This is a one-time procedure for each actor in the transaction.
Each user will then be granted credentials and permissions based on their identity and role in the proceedings. All documentation will be viewable electronically, and approval is an instantaneous “oneclick” process. LPTP then interfaces with all of the necessary systems and data locations to update the blockchain accordingly. After all approvals are fulfilled as stipulated by the terms of the smart contract, payment is released, and the transaction may be completed.
LPTP serves as a property registry as well. No longer will titles, deeds, or permits be controlled by local offices, with each having their own proprietary systems that are inoperable with those in other districts. The Arevalor Platform will act as a both a central registry and real-time ledger. Initially, the Arevalor 4 Platform will contain a copy of relevant documents and associated approvals and timestamps.
Ultimately, the Arevalor Platform will completely replace local offices and their independent systems.