Ripple Partners With ProprHome To Revolutionize Real Estate Market

By Kevin • November 11, 2022 11:47 am • Comments

Ripple has established a partnership with a company called ProprHome in order to revolutionize the existing real estate market.

The focus of the partnership is on the real estate market in Portugal where they will utilized the XRP ledger in order to carry real estate transactions.

Essentially, this will allow buyers to carry out faster and more reliable transactions as well as make the transactions transparent for everyone in the market.

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This will make the buying or selling process much smoother in Portugal and eliminate unnecessary financial middlemen that complicate the process.

Crypto-News-Flash.com reports:

Ripple announced the partnership between the two firms, while ProprHome explained the significant changes in its mode of operation. Prior to the partnership, ProprHome, a blockchain-enabled real estate marketplace, announced its plan to change how people trade and rent homes in Portugal.

Every NFT used on the platform will be minted on the XRP Ledger, a fast and energy-efficient blockchain for asset tokenization. In addition, the XRP’s speed and reliability will help facilitate interactions between real estate clients and their agents. Nevertheless, clients will be able to control the offer and acceptance procedure for every transaction.

The CEO of ProprHome, John McCoy, while commenting on the company’s recent partnership with Ripple, said:

ProprHome and our partner Ripple share the same vision of the tokenization of assets with functional utility. We see the potential of an online real estate market that leverages blockchain technology to improve real estate interactions dramatically. We have trusted in the reliability of XRP Ledger for over ten years to serve as our preferred blockchain for its tokenization and settlement capabilities.

The real estate market in Portugal is seen as highly competitive so it is important to have stellar customer experience when trying to sell a home.

ProprHome is a real estate firm that essentially uses a platform that allows clients to easily access professionals that can assist them with the process.

So far, it has been revealed that the partnership between ProprHome and Ripple will offer different types of tokens such as utility tokens for certain digital property certificates.

These certificates can be referred to as DOC tokens which allow for the buying or renting of property when using the ProprHome platform.

Crypto-News-Flash concludes:

ProprHome plans to have its own native token called Propr (PRP). It is a reputation currency that agents, developers, and owners can earn and exchange for additional exposure.

PRP tokens will encourage a positive real estate experience by rewarding users for good practices. ProprHome leverages the XRP ledger to provide transparent and immutable data to all real estate participants

Furthermore, ProprHome created the “Customer Education-ProprHome” project to educate and enable customers to make better market decisions.

It has also prepared to inform users of the basic blockchain terminologies involved in the platform. ProprHome plans to provide users with an NFT minting guide.

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