Galt Project - DAO for Property owners


:wave: Hey everyone! My name is NIck Popeka. Me and my team are working on Galt Project (https://galtproject.io/). It’s International decentralized land and real estate property registry, governed by DAO, and self-governance platform for communities of homeowners on Ethereum.

We are live on mainnet - https://app.galtproject.io/.

Github: https://github.com/galtproject

Currently we use Aragon organisation GALT (https://mainnet.aragon.org/#/galt/) for dApp governance.

For Protocol upgrades we implemented our own convenient UI (https://app.galtproject.io/#/mainnet/governance/proposals/closed). Which is very useful if you need to create proposals to call methods in any contracts.

The main idea of ​​the project is that for each land plot, house or apartment in a certain territory, an ERC721 token with unique geographical coordinates can be issued. Token holders can create DAOs, enact laws, choose leaders, and raise funds to achieve common goals. Such a system is devoid of the shortcomings of the existing public administration system since it can’t be taken over by corrupt officials. Next week, everyone will be able to issue such tokens, distribute them to their neighbours in the house or on the street.

Imagine a city where all residents (tenants and homeowners) can use their smartphone to raise funds to the budget in ETH or any ERC20, vote on important issues and choose city managers. Thats our vision of future.

I will be very grateful for the feedback!

We want to attract as many participants as possible to our movement. If you want to receive tokens of our GALT organization - just write to me!

4 Likes

This is very exciting! You’re combining the digital jurisdiction of Aragon with (potentially) real world jurisdictions. Have you talked to any small towns or special economic zones that might be interested in adopting Galt for anything, or is it mostly just in the testing and experimentation phase right now?

Yes, we have plans for pilot project. It’s small district with 300 houses.

1 Like

Awesome! And welcome to the forum :slight_smile: For how long have you guys been running your governance using an Aragon DAO? How has it been so far? I’d love to get in touch to chat more!

What is the state of development of the project at this point. I saw you have tokenized some land in Egypt? Is it land that the project owns?

Cheers!

Hi! Thank you! We deployed our organisation 260 days ago, but running governance since our deployment on mainnet the end of last year.

The state is mainnet.

About the land it’s a nice question). And fascinating.

I will give short summary from token description:

In July 2018, the Galt Project team made an expedition to Bir Tawil, a unique place and one of the few territories on the planet that do not belong to any of the existing states.

It was in this place that the main ideas arose that formed the basis of the project:

  • any ownership is just the consensus of a large number of people about what belongs to whom. Thus, as in the case of any cryptocurrency or digital asset, land and real estate ownership can be taken into account and transferred using smart contracts without intermediaries and third parties on blockchain, if there is an agreement between a large number of people in a certain territory on the use of this technology;
  • any society of people living in a particular territory can be completely controlled with the help of smart contracts. Laws can be enacted, public budgets formed, and leaders selected.

Property tokens provide an opportunity to join one or several communities in this territory, governed by smart contracts. Token is not the right of ownership in any jurisdiction and is intended only to form a strong community of like-minded people, united by the ideas of building a society without inequality and usurpation.

1 Like

So from one point we want to engage as many people as we can to run governance for their neighbourhood on smart contracts. We have pilot project.

But alse we decided to make virtual town in place where is no state. Now the architect works on its design and models. We will make some sort of simcity, but in the real place, where you can go.

1 Like

Interesting! How is the supply and price of property tokens determined?

This is a use case for decentralized organizations that I’d love to see personally!

1 Like