On Thursday, 6th of September, Žiga Silič the CEO and Co-founder of Elements Estates did an AMA with the community in the Elements Estates Telegram group. In this article, you will read the top 7 questions + answers from the session. Read how Mr. Žiga explains the Elements Estates project, expresses the importance of the ELES tokens and reveals the recent new big step toward our goals. Feel free to comment and ask if you have any more questions. Enjoy!

Dear all, before I start answering your individual questions, I have written a short intro.

Let me first share some light on our journey for Elements Estates project. Since the beginning of summer 2017, when the idea was born, and from September 2017 onwards, when core team started working on business model, legal set-up, getting right people on board and external partners, reviewing and testing different solutions, we finally achieved a unique project and product as such. We have reached many milestones for which personally I am as well very proud on. At this moment I will put emphasis on one of them:

I am happy to announce that we have already reached our Soft Cap goal of $2.500.000 participation in private sale.

Now let me start with answering your questions.

When will the Whitelist and KYC (Know Your Customer) be available?
For every KYC process there is a lot of demands to be met in order to be in accordance with legislation and rules. We took care of this, developed the system to make the whitelisting and KYC process possible and made a partnership with trustworthy company for this process.

So now that we did all that, you may expect the whitelist to be opened within 2 weeks’ time.

How will we be able to monitor the investments of the real estate fund in separate phases?
Well, we have a classical infrastructure and profile of people behind. What we do is we first analyze potential real estate projects, we make thorough due diligence (static, dynamic with cash flows, risk analysis, etc.), different scenarios weighted and investment decision. Later on it will be presented on Platform for voting. After decision and acquisition of project a skilled project manager takes over, a set-up of external partners and supervisors is done and a start of the monitoring process etc. Projects will constantly be monitored, timelines and costs re-checked. We will have 5 phases on projects and final date on finish of the projects, like you can already see in beta platform.

I think ELES tokens will be very valuable someday and can I (in the future) rent a place on your platform, (for the holidays) in fiat money? Who will do the transfer? Will you also have some kind of crypto/fiat gateway?
Yes, that is the project. You will be able to exchange your tokens for an ownership of a certain house, villa, property, or go for holidays, where you will rent different facilities with our token. In another words, for buying or renting you will pay in ELES tokens, where ELES will act a currency. In case of Fiat, we will have on our platform a partnering exchange that will have a very easy way to exchange different fiat to our ELES. That is also a very good question, and I thank you for it, because we see a lot of demand for nice real estate from classical markets.

For touristic purposes we have different projects on the table, from houses, villas to hotels and camping’s.