ProprHome Partners Ripple to Revamp Portugal Real Estate Industry

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ProprHome to renovate real estate using Ripple’s solution.

ProprHome has partnered with Ripple to bring people new ways to buy, sell and rent real estate in Portugal. According to a adProprHome will leverage Ripple’s XRP Ledger through an NFT solution to provide faster, energy efficient and lower cost transactions for real estate buyers and sellers.

The association’s raison d’être is to revolutionize real estate business and simplify the process of buying, selling and renting properties. The partnership comes days after Ripple developers implemented non-fungible token functionality in XRP Ledger.

Reacting to the Ripple partnership, John McCoy, CEO of ProprHome, said:

“ProprHome and our partner Ripple share the same vision of asset tokenization with functional utility. We see the potential for an online real estate marketplace that leverages blockchain technology to dramatically improve real estate interactions.”

McCoy added that ProprHome had relied on XRP Ledger for over ten years as its blockchain of choice for the company’s tokenization capabilities.

Ripple’s technology to simplify real estate processes

ProprHome will mint real estate NFTs on the XRP Ledger to simplify the way real estate clients communicate with their agents, make offers and schedule viewings. Once the service is active, real estate clients can control the offer and acceptance procedures in each related transaction.

Through ProprHome’s partnership with Ripple and its NFT utility, the company will offer different types of tokens, starting with utility tokens for digital property certificates called DOCs. It is worth noting that DOC tokens are issued to clients who want to buy or rent a property using ProprHome.

The token will help customers bypass the complex and time-consuming verification and approval process of owning real estate. Additionally, the token will provide home buyers and renters with access to various public services, including electricity, water, telecommunications, etc.

Following DOC, ProprHome will also issue Propr (PRP), a form of reputation currency that developers, homeowners, and realtors can earn and trade for additional exposure.

ProprHome commitment to renew the real estate sector

ProprHome is a real estate marketplace that seeks to revamp the process of buying, selling, and renting properties in Portugal using blockchain technology. The big problem associated with the real estate business is in the offer stage.

ProprHome leveraged XRPL to provide transparency and trust between real estate agents and clients to solve this problem. All deals are recorded on the XRP ledger to provide immutable and transparent data to all parties. ProprHome is educating its users about the new solution through a project called “Customer Education-ProprHome”.

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