Investors in the blockchain side of real estate have been trying to find a solution to centralize and create liquidity in real estate. Propy has been looking for ways to solve this through their platform, which they explain is meant to become an avenue for international peer-to-peer transactions in real estate to flourish.
Propy is, as explained by the website through International Real Estate News, a "global real estate marketplace with decentralized title registry." It's another partnership between blockchain and real estate where the process is made quicker by providing an avenue for asset transfer and property selling that is simpler to use.
Buyers, brokers, sellers, and title agents are encouraged to use the website for their transactions and smart contract negotiations. Digital transfer of ownership will also be done on the platform, made more secure because of the blockchain technology surrounding it. Propy is built on the Ethereum blockchain, one of the best blockchain platforms out there.
In line with this, Propy is also involved in a little charity work. San Francisco is the target for their latest project. Known as a hub of everything tech, homelessness should have no room here. Yet, the city has one of the worst cases of it, brought about by issues like population explosion and the number of office workers flocking to work in the tech companies that have buildings in the area. It's created inflation on the number of people allowed to have housing.
Ico Scientist highlighted the efforts of Propy CEO Natalia Karayaneva in solving the problem of homelessness. It is a fit for a real estate platform to try and create a more real estate for people. These homeless people, if the project succeeds, will find housing. These will be in the form of communes where the homeless are housed and jobs are provided for through ventures that serve as jobs for the once-homeless.
Again, Propy is seeing how real estate and blockchain can work together. The transparency of the network is good for bringing secure transactions to a digital form. Real estate can have a lot of paperwork as well, so blockchain is actually a big solution to that. It aims to do away with the paperwork and make things faster through paperless transactions.
So far, Propy is still trying to comply with the needed legislation, as all blockchain-real estate platforms need to do. But this shows that now is the time, rather than later, for real estate to go digital.
