Ripple has agreed with ProprHome to revolutionize real estate.

  • Ripple, in collaboration with ProprHome, plans to create a revolutionary path in the Portuguese real estate market.
  • ProprHome creates “Customer Education-ProprHome” in an attempt to familiarize users with the platform.

Vibe, in collaboration with ProprHome, set out to create a revolutionary way to buy, sell and rent real estate in Portugal. The new method will use the XRP ledger, an open source Layer 1 blockchain that uses an NFT utility. In addition, it will allow potential buyers to make transactions faster, more reliable and more energy efficient.

Interestingly, all three entities: Ripple, ProprHome, and XRP Ledger share similar features and purposes. These platforms are fast, efficient and transparent. In fact, the main objective of the association is to mitigate the rigorous process of buying, selling or renting homes in Portugal.

Ripple and ProprHome partner in Portugal’s real estate revolution

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

Every NFT used on the platform will be minted on the XRP Ledger, a fast, low-power blockchain for asset tokenization. Additionally, the speed and reliability of XRP will help facilitate interactions between real estate clients and their agents. However, customers will be able to control the offer and acceptance procedure of each transaction.

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ProprHome CEO John McCoy while commenting on the company’s recent partnership with Ripple, he 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. We have relied on the reliability of the XRP Ledger for over ten years to serve as our blockchain of choice for its tokenization and settlement capabilities.

More about the Ripple-ProprHome collaboration

Portugal’s highly competitive real estate market uses customer experience as a deciding factor. ProprHome aims to provide a trusted platform where clients can access the right professionals. The partnership between ProprHome and Ripple will offer different types of tokens, starting with utility tokens for digital property certificates (DOCs). Only clients who plan to buy or rent a property using the ProprHome platform can use the DOC token. DOC grants clients the right to use a particular property, eliminating the incorporation verification and approval process.

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

Additionally, ProprHome created the “Customer Education-ProprHome” project to educate and enable customers to make better market decisions. It has also been prepared to inform the users about the basic blockchain terminologies involved in the platform. ProprHome plans to provide users with an NFT minting guide.

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