Propy and blockchain.
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in particular represent one of the most debated subjects in the real estate industry. Professionals of the sector and investors are constantly arguing over the real disruptive power of the #Blockchaintechnology
over the #RealEstate
Industry, which, for its characteristics, seems to be the perfect candidate to test the real effectiveness of #Blockchainpower
One of the best example to investigate the impact of #Blockchain
on the Real Estate sector is #Propy
. Already discussed in the very first article of #SFRealEstate
column, Propy is one of the major real estate global marketplace based on Blockchain and thus with the unique characteristic of “decentralized title registry”. Propy’s main aim is that of removing the common transaction problems from the Real Estate sector, by creating a platform to allow every market player (buyers, sellers, brokers, etc.) to get in contact and operate in an easier way, transparently, using #smartcontracts
. The platform is a true and verified property store and asset transfer platform focused on international real estate assets. In theory, it allows market players to carry the complete process online, including the digital transfer of ownership registered and stored on the Propy Registry.
The Idea was born in order to solve the long and complicate processes that individuals face, every time they try to operate in the real estate market through direct investments. In the classical scenario, working with several different parties, all with different interests and views becomes really problematic and expensive, especially for non-professionals. Inefficiencies or lack of communication tend to be the major problematic, that together with illiquidity, complex regulations and market risks, discourage investors, to operate in the sector.
Propy seems to be successful and trusted, with more than 15,370,280 (PRO) Tokens sold at a price of $1 per Token. The total number of tokens sold, including all additional bonus transfers is over 16M.
Do you think Blockchain will disrupt the Real Estate Industry?
in the comments!