Propy, World’s First Global Property Store with Decentralized Title Registry Launches Token Sale

One example of token creators with secure and fair token sale design

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Propy,  a peer-to-peer real estate exchange platform built on Blockchain technology, today announced the launch of its token sale next week. Propy is the first ever global property store with decentralized title registry.  Propy automates real estate purchases with smart contracts, eliminating time, paperwork and costs for buyers and sellers in the global real estate marketplace.

The token sale for PRO tokens includes 1M initial tokens. 15 percent (15M) are earmarked for donation back to the developer community to support the evolvement of the Blockchain infrastructure, security and scalablity solutions.

More information and Propy’s white paper on the technology can be found here.

Real estate’s illiquidity and centralization present significant inefficiencies for investors, especially those purchasing properties abroad. There are currently no international standards or comprehensive technologies for electronic property rights transfers. Legacy registry systems were created to handle local investors, but are ill-equipped to manage international ownership transfer. To solve these problems, the Propy Registry is powered by 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 using private keys within their existing legal frameworks.

“Propy is proposing a new decentralized global real estate market with a unified real-time transaction interface approaching the functionality and speed of electronic stock market exchange platforms,” said Natalia Karayaneva, CEO of Propy. “It will allow real estate assets to become liquid, while providing users with greater control and protection of their property rights. We’re excited about disrupting the real estate sector and helping to eliminate common challenges that result in illiquidity, uncertainty and delays.

“Propy’s international team includes founders and early employees from the United States, Europe, Russia, Ukraine, and Singapore, all sharing the knowledge of their markets,” said Michael Arrington, Founder of TechCrunch and an advisor to Propy. “The company’s Chief Blockchain Architect Andrey Zamovski has applied his deep knowledge of cryptography and Ethereum smart contracts to build this innovative technology. The entire team shows all the signs of persistence and execution.”

The ERC20 PRO token will allow for both simple integration into users’ wallets and ease of use in traditional exchanges. The token will be required for interaction with the Propy Registry, specifically when users change ownership of a title or register a new title. 35,000,000 PRO tokens will be available for purchase in PRO’s token sale beginning soon.

“Regarding security issues such as Parity wallet hack the token sale Propy uses a wallet that is a closed smart contract (unlike open-source Parity wallet), which among other features allows account recovery via special 2-factor authentication service, called secondfacdtor.io.” shared Andrey Zamovski, the Chief Blockchain Architect at Propy.

“Even if a customer loses his/her password he/she will be able to security regain access to his assets by going through an authentication with the two services described above.”

“To my knowledge, this is the first 2-factor authentication service, implemented in Ethereum (if you don’t count traditional multi-sig wallets)”, shares Zamovski.

For more information, please visit: http://tokensale.propy.com/

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) – Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He’s written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein’s professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he’s travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, “The Hitchhiker’s Guide to the Seas’ travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he’s raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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