What is Propy and what does it solve?
Propy is a startup with leaders from Silicon Valley backing it up, such as Tim Draper, in addition to the NAR REACH technology growth program. Utilizing blockchain technology, it is disrupting the traditional real estate market. The ultimate objective is to enable real estate transactions based on smart contracts to occur online and autonomously.
They seek to automate the closing process for all parties involved in a real estate purchase so that the closure can be completed more quickly, with fewer headaches and more safety. Their products assist real estate agents, and title companies in transitioning to closings on the blockchain.
Key Features of Propy
- Tokenized Real Estate ownership
The goal of the real estate platform offered by Propy is to simplify the processing of tokenized land while preserving its users’ sense of security. Smart contracts provide the necessary transparency for the transactions. It serves both individual and institutional investors as its customers.
The company has also created the first blockchain-based title registry approved by the government. The platform has been of assistance in the buying of thousands of homes.
- Efficiency Closing Process
Using the platform’s Smart Contracts, they aim to streamline the closing process more quickly and with fewer errors. The conclusion of your transaction will be more trustworthy. Through the use of integrated earnest money deposits, they will safeguard your customers against fraud committed via wire transfer.
They will manage your transaction on Propy’s platform, ensuring that your clients are kept informed and facilitating communication with them. They have a staff of knowledgeable title and escrow officers who are entirely devoted to ensuring the success of their clients.
- Compliance and Security
Propy’s automated technology will help you save time during the auditing process. All documentation about the transaction can be reviewed and approved straightforwardly by the Transaction Coordinators, Auditors, or whoever initiated the transaction.
Using the safe document storage tool, you may upload, download, and forward any of your files at any time and from any location. Every document uploaded to a deal stage will immediately be placed in storage. This is done to make the process simpler.
- Fantastic Management Tool
Buyer agents don’t need a Propy account to participate; they only need to fill in the offer data. You are notified immediately by text message and email of any received responses or offers.
Using the tool, you and the seller simply compare and contrast the conditions of the offers, reply, and make counter offers when you share them. In addition, you can export the dashboard to a spreadsheet with a single click. And finally, you will be able to communicate with your buyers and sellers ten times more effectively.
What are the strengths of Propy?
The unique thing about Propy is it introduced blockchain technology into the real estate market. Customers will save money and time while also benefitting from increased transparency and efficiency in all worldwide property transactions thanks to the Propy platform.
Propy is a real answer to a big issue, and the company has its sights set on the vast global market it may serve. Even though Propy’s team has a lofty objective of becoming the official registry of countries, they have shown they can accomplish this so far.
The powerful team and advisors worked diligently and fast to acquire critical agreements with various government entities. One of its most significant characteristics is that the initiative complies with the law, which is essential in establishing the platform’s legitimacy.
Token overview
- Token name: Propy
- Token symbol:PRO/USDT
- Total circulation supply: 100.00 million
The PRO tokens are to be to a smart contract for transfer in the Propy Rstry. PRO tokens are on the ERC20 token standard, which allows for simple integration into users‘ wallets. The essential and obligatory steps for a real estate on Propy Registry includes the execution of the Deed contract and Title contract, which are necessary for the transfer of property and the recording of the change of ownership. The Propy Registry, will require the use of PROs to pay the associated “Registry Fees” to record these modifications on blockchain.
The future
Propy has set its sights on a massive global market and provides a real solution to a significant problem. While Propy has the ambitious goal of becoming the official registry of governments, so far the team has proven up to the task.
The strong team and advisors have worked quickly to secure important partnerships with various governments. One of the biggest strengths of the project is its compliance with the law, which helps legitimise the platform.
Propy is committing to a massive undertaking. Their goals and vision are very ambitious. However the team is currently exceeding expectations, and they are well on their way to making blockchain property transactions a reality.
Propy Official Media
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