Galt Project

Property rights and Self-governance on Ethereum

International decentralized land and real estate property registry, governed by DAO, and self-governance platform for communities of homeowners on Ethereum

Protocol Overview

211

smart contracts

23091

lines of code

Mainnet check
Mainnet

Key Features

Property rights
Consistency
Self-governance
Investments
Platform governance
Technology
Other

Consistent Geospatial Registry protected by Cryptography

Consistent Geospatial Registry of Property, protected by Cryptography

Create a property Ethereum ERC721 Token with geospatial data of your land plot, house, apartment or office. This data will be stored forever on millions of computers in blockchain and will be protected by the cryptographic algorithm, that prevents double ownership. No one will be able to change your property records.

A decentralized community of Cadastral engineers and Notaries

Your land plot or real estate tokens creation is approved by a decentralized community of cadastral engineers and notaries. We call them Oracles. They check geographical coordinates and property rights in your jurisdiction for a fee.
To provide paid services they need a security deposit, blocked in the smart contract. In case of an error or fraud, the deposit will be written off and used for prosecution and damages cover.

Real Estate operations on Ethereum, protected by Cryptography

Sell, buy or rent land real estate on Ethereum with all legal formalities. Take or give P2P loans and use land or real estate as collateral. Create real estate Collateral Debt Positions. All operations are performed on secured Smart contracts. Your information about deals will be stored forever on millions of computers in blockchain and can't be changed. You can use it as proof in legal disputes.

Smart contract Land surveying on Ethereum

Use Ethereum Smart Contracts with sophisticated computational geometry algorithms to split and merge land plots and real estate areas without a third party. The consistency of geographical coordinates will be guaranteed by Ethereum blockchain and Cryptographic algorithms.

A decentralized community of Custodians

To perform commercial operations with your land or real estate token you can use Custodians service. Custodians are asset management companies, law firms or trust funds in reliable jurisdictions. They are temporary owners of land or real estate and are legally obliged to re-register these rights in the state registry to the owner of the token. Also, they can convert fiat income from real estate to Ether or Stablecoins and transfer them to token owners.
To provide paid services they need a security deposit, blocked in the smart contract. In case of an error or fraud, the deposit will be written off and used for prosecution and damages cover.

Accurate land plots coordinates in smart contract

Each Land plot is an Ethereum ERC721 token that has unique geographical coordinates. Geographical coordinates for each point are Latitude, Longitude and Height above Sea Level in WGS-84 standard. These coordinates are stored in a Geohash5z form in Ethereum smart contract. They are used to uniquely identify the plot and verify the lack of "Double ownership".

Accurate Buildings coordinates and topology in smart contract

Each Building is an Ethereum ERC721 token that has unique geographical coordinates. Geographical coordinates for each point are Latitude, Longitude and Height above Sea Level in WGS-84 standard. Coordinates of foundation of building are stored in a Geohash5z form in Ethereum smart contract. They are used to uniquely identify the building and verify the lack of "Double ownership". Coordinates of walls and roof points and accurate topology of building is stored in IPFS.

Accurate Rooms coordinates and topology in smart contract

Each Room is an Ethereum ERC721 token that has unique geographical coordinates. Geographical coordinates for each point are Latitude, Longitude and Height above Sea Level in WGS-84 standard. Coordinates of floor of the room are stored in a Geohash5z form in Ethereum smart contract. They are used to uniquely identify the room and verify the lack of "Double ownership". Coordinates of walls and ceiling points and accurate topology of room is stored in IPFS.

Double ownership check when creating Token for Land plot, Building or Room

Each token before being created is checked using the Oracles to verify that it does not intersect with existing tokens. The Oracles check the intersection of geographic coordinates with off-chain software and provide data to the smart contract for a fee. If one of Oracles provided prof of intersection and the others at the same time submitted that there is no intersection, he claims all reward. Malicious Oracles loose their deposits in favor to non-malicious Oracle.

Communities of homeowners on Ethereum with true Democracy

Create a Community of Homeowners. Define its laws by direct or delegated voting. Store laws and voting data on Ethereum blockchain and IPFS forever. Voting process and its results will be protected by cryptography, can't be faked and can't be changed.

Reputation in Community of homeowners on Ethereum

Every member of Community has a Reputation. This is the number that determines the weight of the vote of each participant in the voting for decisions. Alice can have Reputation 45, Bob 52. Thats means that Bob have more influence in Community, then Alice. A community member gets a reputation for the number of square meters of his property, by voting of other members for Community service, through financial contribution to the community budget and for active voting on important topics.

True and instant Liquid democracy for better decisions in Communities

True and instant "Liquid democracy" for making better decisions in Communities

If you are not participating in the voting, give your vote to another trusted member in the Community. In turn, he can give his votes to another trusted member of the Community. As a result, the votes of the passive "majority" will be transferred to the expert and active "minority." Get your vote back instantly whenever you want. This way we solve “apathy of voting” and “usurpation of power” problems.

Communities budgets on Ethereum

Create one or several Delegative Community Multisigs to store and manage Communities Budgets in Ether, Stablecoins or any ERC20 tokens. Elect Multisigs managers among homeowners. Use Delegative Community Multisigs to protect your rights, to maintain your property and to invest.

Compatibility with different frameworks for DAO

To create communities of homeowners, you can use not only the Galt Project Community Framework, but also other frameworks for DAO’s such as DAOStack or Aragon.

Collective real estate investments on the Ethereum blockchain

Today investment in Land and Real Estate can only be made through inefficient process involving a lot of useless intermediates and paper works. For many people it’s too complicated and costly. As a result large number of retail investors do not have access to Real Estate investments, which are safest way to build long term savings.
On our platform Trust Fund in few clicks can issue ERC20 token on Ethereum, as a share in Real estate objects around the world. Anyone, from student in New York to fruit seller in Jacarta can invest 20 dollars per month in this real estate from the convenience of their smartphones and get rental income. All operations are performed on smart contracts and protected by cryptography on Ethereum blockchain.

Collective investment and construction management on Ethereum

You can unite with other people, create a Community of Investors and jointly invest in construction of building, street or even a whole city. All investments will be securely stored in Multisig Wallet in Ether, DAI, True USD or any other StableCoin. Community members will vote and elect Professional managers, who will be responsible for the progress of construction and expenditure of funds.
In one moment those Managers can be replaced and prosecuted in case of embezzlement. All operations are performed on secured smart contracts in Ethereum blockchain.

Fair Platform commission distribution by smart contract.

All smart contracts have Platform commission in Ether and GALT. Commission amount is set by voting of Oracles, land and real estate token owners and Galt token owners.
Commission is automatically divided between Automatic exchange contract and Owners of GALT token. Proportion is set by voting.

ERC20 utility token GALT for Oracles security deposits and Platform Commission Distribution

There is an Ethereum ERC20 token GALT, used for platform governance with fixed supply of 42 millions tokens. Oracles need to buy and deposit tokens to smart contract to provide their services and get fee.
Also anyone can buy and hold GALT tokens to get a share in Platform commission. It represents a share in all incoming fees from property registration and other smart contracts operations. If you have 1% of Galt tokens, you get a 0%- 1% of all commission.

Automatic exchange of GALT token to Ether and back on smart contract

We use automatic market making contract for exchange operations between GALT tokens and Ether. It’s a secured smart contract, forked from Bancor Smart Token. Current price is calculated by contract and depends from current balance of Ethers and GALT tokens in contract and price formula. The more Ethers in smart contract, the greater the price of GALT in Ethers. Percent of all platform commission goes to contract to increase GALT token price.

Decentralized platform governance

Together Oracles (Cadastral engineers, Notaries, Custodians, and others), land and real estate Token owners and GALT token owners control platform parameters by voting. For example, they can change minimum token registration fee, security deposit amount or upgrade smart contract.

Resolution of disputes about the boundaries of land plots by voting on Ethereum

Together Oracles, land and real estate Token owners and GALT token owners elect special governance role - Arbitrators. They are independent professional judges. Any Property owner in case of error or fraud can create a claim.
For example, if the borders of your neighbour’s land are incorrect and cross your plot. Arbitrators review this claim for a fee. If positive decision is made, they can change your neighbour’s land plot coordinates and write off security deposit from Cadastral engineer and Notary in your favour as compensation. If your neighbour don’t agree, he can , make another claim on Arbitrators decision. All operations are performed on smart contract.

Simultaneous platform operation on several blockchains

Platform works simultaneously on the Ethereum mainnet and several sidechains connected by bridges. You can create land and real estate tokens in the POA network and vote on self-government issues. It will be cheap and fast. For trading, you can move the token to the Ethereum mainnet. Also you can use your own private blockchain.

Parity Substrate sidechain for high-performance calculations

Before creating a land plot or real estate token, it is checked by a smart contract that its coordinates do not intersect with other tokens. This operation is performed on a sidechain due to Ethereum mainnet limits. We use Proof of Stake blockchain on a Parity Substrate.

Building Information Model storage in IPFS

Use IPFS to store BIM models in IPFS linked to a smart contract on Ethereum.
This will ensure absolutely reliability of BIM data for real estate trading and engineering purposes.

LiDAR 3D Point cloud storage in IPFS

Store LiDAR 3D Point cloud of your Land plot or city in IPFS linked to Ethereum smart contract for trading, engineering purposes and better user experience.

Floor plans storage in IPFS

Real estate floor plans are stored in IPFS (decentralised file system) with a link to a Ethereum smart contract. Plans are used for a better experience when buying property.

Media data storage in IPFS

Real estate photos and videos are stored in IPFS (decentralised file system) with a link to a Ethereum smart contract. They are used for a better experience when buying property.

Smart contracts geographic coordinate transformation for area calculation and geodesic purposes

Use Ethereum Smart Contracts to transform Latitude and Longitude to UTM, MTM, Geohash, and other geographic coordinate systems. Calculate land plots areas and use it for other geodesic purposes.

Absolutely realistic land and real estate tokenisation for Game Industry

Use Ethereum Smart Contracts to create new virtual worlds and implement them in your game mechanics. Gamers can buy, sell and fight for land and real estate, mine resources and own their digital assets with incredible realism.

Universal protocol for consistent Planetary Geographic Data accounting

Use Smart Contracts to store information about land plots and objects coordinates on Moon, Mars, Titan or any other Planet in Solar System and beyond.

Accounting for the origin and stocks of natural resources

The platform can be used to record the origin and stocks of natural resources with a tethered geographical coordinates of the place of production.
For example, you have a gold mine or oil deposit. You can create a land plot token and register its proven reserves in smart contract. Integrate your corporate system to blockchain and store information about mining, logistics and sales. This information will be stored forever and can’t be faked.

Accounting for the origin of agricultural products

The platform can be used to record the origin of agricultural products with a tethered geographical coordinates of the place of production.
For example, you have a vineyard or palm oil plantations. You can create a land plot token and register it in smart contract. Integrate your corporate system to blockchain and store information about production, logistics and sales. This information will be stored forever and can’t be faked.

Platform Commission calculator

Most of the Platform smart contracts have commission in Ether for land and real estate tokens registration, tokens trading, communities of homeowners use etc. Commission amounts for different operations and it's dustribution is set by voting. Use sliders to calculate commission. In this example 100% of all commissions distributed to GALT ERC20 Token Owners.

You have

42 000 000

GALT ERC20

100% of total Supply

Land and real estate rokens registrations

300 000

per year

Average registration fee per 1 token

0.4

ETH

USD

Total users in all Communities of Homeowners

1 000 000

per year

Subscription price per 1 user per year

0.01

ETH

1.4

USD

Total deals with land and real estate tokens

ETH per year

1.4

USD per year

Platform Commission from Deals

0.1

Your Commission per year

62 857

ETH

8 800 000

USD

Who is John Galt?

"Civil government, so far as it is instituted for the security of property, is in reality instituted for the defense of the rich against the poor, or of those who have some property against those who have none at all.

(A fair governance and justice systems will ensure that both the rich and the poor have property rights.)"

– Adam Smith,
Wealth of Nations, Book V, Chapter I, Part II On the Expence of Justice.

“Galt Project was founded in 2018 as an organization, which invests crypto assets and develops technological projects to change the way people live, manage their property and collaborate to each other for better. As an early blockchain adopters, We truly believe, that this technology will revolutionary change global society in technical, social and economic way, will erase borders, inequality and exploitation.

Control your money, control your property, control power institution, control your data."

Founders.

Side Projects

An autonomous and self - governed community in Bir Tawil.

We have plans to create a community, governed by smart contracts in a territory that does not belong to any state. Land and property records, budgets and governance will be on Ethereum blockchain.

A fully autonomous and mobile house.

We produce houses based on a 40ft sea container to give an ability for everyone to live anywhere they want with full autonomy and comfort.

A convenient and reliable interface for multi signature wallet.

We created open-source UI for Gnosis multi signature wallet, which allows you to more conveniently interact with smart contracts.

multisig.galtproject.io

An unstoppable social network protocol on top of IPFS.

We created GeeSome protocol for communities to freely communicate in encrypted chat groups, share images, video, text or any data without a risk of censorship or blocking.

Team

Nikolai Popeka

Founder, CEO and Product Manager

A cryptoinvestor, co-founder in NIT Engineering company, nebo.ru marketplace.

Evgenii Panichev

Smart Contracts & Frontend developer

Experience of web development on NodeJS, RoR, Laravel, Angular and Vue. GUI design of web apps experience.

Nikita Chebykin

Smart Contracts Developer

Experienced in development of web, realtime and decentralized applications. In his toolbox has multiple programming languages such as Go, Java, JavaScript, PHP, Python, Ruby.

Igor Frolov

Developer

Development experience of mobile and web application in gamedev and fintech.