Despite the fact that many blockchain startups failed lately, here in this article we want to put focus on the most innovative and secure approach in using blockchain technology. Even though the term “blockchain” is very often linked to the term “crypto”, a Silicon-Valley based startup Propy skilfully separated the two. An Ethereum-blockchain powered real estate pioneer, Propy is constantly upgrading its Transaction Platform were all involved parties can make a real estate deal happen within minutes, all online. In comparison to classic transaction-management platforms, such as Dotloop or SkySlope, Propy is the only company that allows to close the entire deal and record a deed on blockchain, as opposed to supporting only some of the processes.
Propy Blog co-founder and media entrepreneur Fred King shared his vision of Propy’s future:“Current real estate market is too old school to remain relevant in 2019. Today you can buy everything online and my generation of millenials got used to it. Real estate market is huge and Propy is a great tool that will open a door to real estate investors around the globe. Propy has the most important components in its mission – trust and support from the community”. Fred King also mentioned the growing interest across the states and countries. “The real estate purchase process is different in each state and country. But what’s surprising here is that, within the last few months, Propy received multiple requests from new regions that are new to transacting on blockchain. Considering the recent spike of interest coming from NYC-based law firms and leading brokerages, I’m betting that we should expect New York real estate market to adopt Propy Transaction Platform in the near future”.
Propy – Amazon of Real Estate
Earlier in July, Propy attended Inman Connect in Las Vegas, where its management team highlighted the most notable events for the company in 2019. One of them was a recent investment from the National Association of Realtors, when NAR’s venture capital arm, Second Century Ventures, bought a stake in Propy through its REACH accelerator program. The startup also mentioned several spotlighted transactions on the platform, including the sale of a San Francisco property by a venture capital fund co-founded by Michael Arrington. All this buzz around Propy and its rapid expansion shows that Propy is not just a concept, it is a real and working product that puts its teams’ ambitions and effort to be no less than the “Amazon of real estate.”