Propy - a new token to invest in?

In this blog I want to talk about Propy, a new idea built on the blockchain technology.




As we all know and as it becomes more popular over the last couple of years, land is a good asset to hold on. But it is not just a "store" of our wealth, it is also a producer of more wealth. The problem with it though is, it is inefficient to get, especially abroad. And this is, where the team behind PROPY comes into the play. Their idea is, to create a market platform for the real estate industry to make it much more simpler and efficient and safe, to trade properties. And of course, through the revolutionizing technology of blockchaines.  

So what is Propy?

Propy is a market platform which wants to implement the blockchain technology into the real estate industry.

Propy.com is dedicated to solving the problems of purchasing property across borders. Propy is the world’s first international real-estate marketplace. The team at Propy.com facilitates connections between international entities to enable the seamless purchase of international real-estate online for the first time.

Why?

Today in the market world, it is kind of a pain in the ass to make an international real estate purchase, to buy some property. There is a lot of paperwork involved, as you have to deal with international and local brokers, bankers, Property owners, Land registry services and governmental requirements. It takes a long time and it is vulnerable to different kinds of fraud whilst being processed. On the way there is also quite some money lost. An example is China, where investors who intend to invest in abroad real estate (and the chinese are doing pretty well, buying land all over the world) need some so called "vitamine B" (a german saying for friends or family) who know local brokers who then trade with international brokers. This is time consuming and causes a lot of paperwork, as there is a big lack of international standards with different standards for every country or even state. And this is what PROPY intends to solve. They want to create a transfer platform for real estate which is internationally regulated and therefor much easier for investors to trade international property. So their vision is to create a "Propy Registry" which jurisdictions will adopt so that real estate purchases and their transactions are legal, as they are based on the Propy Registry ledger. Their goal is to create a "single point of authority" that can be accessed through international entities.  


The team created a "Propy Registry", which works with the blockchain technology, "that allows each party to a real estate transaction — including the broker, buyer, seller and title agent/notary—to sign off on a transaction for properties" (whitepaper). Every step of a transaction of a real estate can be recorded with a blockchain and be executed with smart contracts.  They are right now working with governments and states (in the U.S.) on an official ledger of record (Propy Registry) which is accepted as a legally valid ledger of record for real estate transfers. 

This is their roadmap. They are currently working on the real estate market in california, where they intend to start the project.

Their team made out of 11 people looks solid and trustful. They have quite some developers (technical developers ,business developer, etc.) in their team (i.e. John Wong, former business developer for Wells Fargo) as well as 7 advisors from different companies like Standford or Apple and some partners (i.e. CIVIC).

I myself do not know much about real estate. But I know it is a big market. I think the team has a good concept and as they are already working with governments to create a accepted valid international ledger they don't seem to be a scam.
I personally am a little sceptical about these two facts:

1. the real estate market could become internationally regulated, and I don't know if we all benefit from that. I could see goverments being forced to adapt to this system as real estate in most places will trade through this platform, which could make them accept laws they don't actually want.
2. It might destroy local markets and threat local brokers to loose their jobs. 

What do you think?

Again, I am not a broker, nor a real estate trader or investor. But I think this is a great opportunity to invest because the idea sounds good, the team looks good and I think the market could use this new platform.

Thanks for reading. Again, if you like the post, you're very welcome to give me a little upvote. I also am very happy in case I made mistakes and you take the time to educate me.

Enjoy the day, have fun investing (you find the pre sale on their website).

https://tokensale.propy.com/#how_it_works
https://tokensale.propy.com/Propy-White-Paper-17-Jul-2017.pdf

(all pictures are from their website)