US National Association of Realtors Invests in Blockchain-Based Real Estate Firm Propy

The National Association of Realtors, the biggest trade association in the U.S., invested in Propy.

A major United States trade association, the National Association of Realtors (NAR), has invested in blockchain-based real estate platform Propy, Forbes reports on June 10.

The NAR’s strategic investment arm, Second Century Ventures, has invested an undisclosed amount in Ethereum blockchain-based startup Propy as a part of its commercial real estate technology accelerator REach.

Launched in February 2019, the REach program is reportedly the first commercial accelerator of its kind, aiming to bring together major technology disruptors in the real estate industry by selecting ten startups to enter each year, the report notes.

By choosing Propy, Second Century Ventures intends to streamline its operations through blockchain technology in real estate transactions due to its immutable data storage, the firm’s senior marketing and communications director Ashley Stinton said.

Founded in 2017, Propy is a global real estate transaction management platform for facilitating property transactions online. Back in 2017, the company raised about $14 million in an initial coin offering (ICO) through its own utility token PRO that is designed to bolster a self-sustaining ecosystem tracking global real estate ownership.

Specifically, Propy eliminates the need for a third party in real estate transactions, providing an additional level of security and transparency in the market. According to Forbes, Propy has listings in more than 30 countries and expects to hit $4 million in annual recurring revenue by the end of 2019 in sales of software as a service (SaaS) products.

The NAR is reportedly the largest trade association in the U.S., representing 1.3 million members.

Last year, a pilot program in the state of Vermont reportedly completed the first entirely blockchain-based real estate transaction in the U.S. in collaboration with Propy.

Earlier in May, the Enterprise Ethereum Alliance described a set of blockchain use cases in the real estate industry in a report, claiming that blockchain tech can potentially shorten the process of recording and transferring properties.

Original Article

COMMENTS

Name

Adoption,2,Altcoin,1,Analysis,498,Bitcoin,1,Bitcoin Scams,2,Blockchain,2,Central Bank,2,Cryptocurrencies,4,Cryptocurrency Exchange,2,Ethereum,3,Government,2,Hyperledger,2,IBM,1,Iran,1,Japan,2,JPMorgan,1,Law,1,Malware,2,Markets,2,News,3262,Payments,1,Press Releases,338,Privacy,1,Quorum,1,Ransomware,2,SBI,1,Scams,2,Software,2,Sponsored,137,USA,1,
ltr
item
CryptoNomus: US National Association of Realtors Invests in Blockchain-Based Real Estate Firm Propy
US National Association of Realtors Invests in Blockchain-Based Real Estate Firm Propy
https://images.cointelegraph.com/images/528_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8zODU0Yjg2NjIwNmVhMGQyMzczZWRkM2E4NWMwMDRiMS5qcGc=.jpg
CryptoNomus
https://www.cryptonom.us/2019/06/us-national-association-of-realtors.html
https://www.cryptonom.us/
https://www.cryptonom.us/
https://www.cryptonom.us/2019/06/us-national-association-of-realtors.html
true
4884201149675661183
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy