Propy has just launched its Token Sale yesterday and it has already been a success. The crowdsale started at 6 a.m. PST on Aug. 15, and has already raised more than $7.7 million. Real estate innovators and cryptocurrency enthusiasts are becoming part of the project by contributing toward its development.
The activity and the enthusiasm of the participants has allowed Propy to look forward to achieving its goal to release the decentralized Propy Title Registry, which the company hopes will become the core of a purely decentralized P2P real estate marketplace.
Propy, the global property store and decentralized title registry, is partnering with the government of Ukraine to allow online real estate purchases by foreign investors. From the capital Kyiv to the Black Sea beach cities, Propy will enable Ukrainian properties to be sold entirely online. Pilot programs will be led by Propy in coordination with Ukraine’s Agency for E-Governance throughout the next year.
The Head of the State Agency for eGovernance of Ukraine, Oleksandr Ryzhenko outlining the country’s blockchain strategy said,
“Our ambition is for Ukraine to be one of the world’s foremost nations in establishing a comprehensive blockchain ecosystem. And the real estate sector forms an important part of our overall blockchain strategy, adopting blockchain’s transformational technology will benefit all counterparties in real estate transactions through fostering greater transparency, efficiencies, security, and compliance.”
The CEO of Propy Natalia Karayaneva said,
“Ukraine’s recent commitment to build a blockchain-based internal government database with Bitfury was a great first step. Ukraine’s government is strongly interested in building upon this progress by leveraging Propy’s technology to facilitate online real estate transactions to attract foreign property investors. While this clearly benefits the Ukrainian real estate market, it also allows foreign investors to purchase enticing properties in a very low-price range, all with the benefits and security that Propy provides.”
To solve problems of real estate’s legacy registry systems and outdated property sales process, the Propy uses smart contracts to track and execute real estate transactions according to regional regulations. By using the Ethereum blockchain, Propy allows brokers, buyers, sellers, and title agents/notaries to sign off on transactions within their existing legal frameworks.
The Silicon Valley based company is advised by the founder of TechCrunch, Michael Arrington, Alain Pinel, Apple’s Daniel Kottke and Bessemer Venture Partners’ David Cowan.
Propy’s PRO token will be required for interaction with the Propy Registry, specifically when users change ownership of a title or register a new title. ERC-20 PRO token will allow for both simple integration into users’ wallets and ease of use in traditional exchanges. 100,000,000 PRO tokens will be available for purchase in PRO’s token sale beginning Aug. 15, 2017. For more information, please visit: https://tokensale.propy.com.
About Propy
Propy is the world’s first international real estate marketplace, aimed at solving the problems of purchasing property across borders. Propy facilitates connections between international entities to enable the seamless purchase of international real estate online.
