On April 17, 2018, global real estate store with a decentralized title registry Propy announced their open source Developer Program. The news were followed by an announcement from Bittrex, the most popular U.S.-based blockchain trading platform, on listing the PRO token. Propy users need tokens to execute the purchase process for real estate, located in California, as of today.
The idea behind Propy: it allows anyone to buy or sell real estate, anywhere, online. Propy provides an efficient crypto and fiat payment and an immutable record on the blockchain, ensuring that title deeds and property rights will be there forever.
In March 2018, the San Francisco based firm completed its very first government-sanctioned use of blockchain for a public service in the US. That is, in fact, their second global achievement, after the first ever purchase of property using blockchain in Kiev, Ukraine, back in September 2017.
Propy Platform consists of three systems, two of which are powered by Ethereum smart contracts and require PRO tokens.
Designed to encourage blockchain developers and researchers to build efficient solutions for the real estate market, on top of Propy’s registry, Propy’s Developer Program will support: localizations for the Title Registry, a Blockchain Property Explorer, and “Title Mining”. In a recent blog post, Propy describes how the Title Mining protocol will allow users (Title agents, lawyers, notaries, and real estate professionals) to “mine” title history — which means that they will digitize title records and store them on blockchain, a critical measure for those locations where the records are vulnerable to political regimes, corruptions, and hacking.
Participants in the Developer Program will receive multiple benefits and grants in PRO. The first whitelisted group of developers will receive a grant, that will be announced on Propy’s telegram channel: https://t.me/propy
Propy is a global real estate store with a decentralized title registry. Propy aims to solve the problems facing international real estate transactions by creating a novel unified property payment solution and asset transfer platform on blockchain.
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