Blockchain and cryptocurrencies continue to transform the way that global markets operate. Digital coins like Bitcoin are now popular assets among traditional securities investors, and blockchain applications are upending standard progress in markets such as real estate. Blockchain technology will utterly transform the process by which real estate is bought and sold. As platforms like Propy evolve and infuse the space with new convenience, investors begin to start considering blockchain-based real estate as a unique investment opportunity.
Real Estate: The Traditional Way
There is a vast number of roadblocks in the real estate transfer process that keep Millennials out of the market. On the one hand, real estate buyers have to deal with many different intermediaries, including banks, title companies, private lenders, insurers, agents, and more. On the other hand, in the property transfer, there is always the risk of loss and fraud.
Real Estate: The Future
Propy brings security and automation to the real estate transaction process. Instead of contracts having to be filled and filed by humans, smart contracts reduce process times to minutes. Using assets like Bitcoin as the settlement currency, real estate can be bought and sold with the speed of crypto. The security of the blockchain ensures that data is safe and that transfers are immutable. While this might seem like a distant future possibility, real estate has already been sold this way many times in Southern California using Propy’s blockchain solutions.
Propy solves the major problems that are inherent in standard real estate transactions processes. Real estate transactions occur faster because all parties are brought together on a single platform. Propy protects its users by securing all data within the blockchain. The new standards reduce friction and offer more convenience to the financial world. Testimonials attest to the fact that Propy is already proving its worth to the industry. As the real estate field continues to mature and evolve, more blockchain investors see property buying as an appealing investment opportunity.