4,550+ participants support Propy’s mission to put trillion dollar real estate market on the blockchain
SAN FRANCISCO — Sept 6, 2017 — Propy the global property store who aims to bring international real estate market on the blockchain $13 million from more than 4,550 participants in its ongoing PRO token sale, which continues until September 15, 2017.
Real estate innovators and cryptocurrency enthusiasts have contributed over 31300 ETH and 940 BTC towards Propy’s development. Propy has successfully signed the first governmental partnership, a big step towards real estate innovation; for the first time, a high-value asset connected to the real world will be transferred on blockchain. Propy has partnered with the government of Ukraine to facilitate online real estate purchases by foreign investors, and is in discussion with several other governments in the US and Middle East.
To solve problems of real estate’s legacy registry systems and outdated property sales process, the Propy uses smart contracts to track and execute real estate transactions according to regional regulations. By using the Ethereum blockchain, Propy allows brokers, buyers, sellers, and title agents/notaries to sign off on transactions within their existing legal frameworks.
“Early and widespread support for Propy indicates a clear demand for digitizing of the $217 trillion real estate market and turning it into commodity,” said Natalia Karayaneva, CEO of Propy. “We’re eager to build a decentralized Propy Registry with associated protocols that will be open for people and governments, as well as for other technological companies to build solutions on top of it.” Execution of the code at Propy registry will require Propy’s tokens – PROs.
The ERC20 PRO token will allow for both simple integration into users’ wallets and ease of use in traditional exchanges. The token will be required for interaction with the Propy Registry, specifically when users change ownership of a title or register a new title. For more information, please visit: https://tokensale.propy.com/
Propy is the world’s first international real-estate marketplace, aimed at solving the problems of purchasing property across borders. Propy facilitates connections between parties to enable the seamless purchase of real estate online. For more information, please visit: https://propy.com/
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