Chainlink is an Ethereum-based blockchain solution that is now making its way into the real estate industry. Enables secure and transparent rental payments between landlords, property management companies and tenants.
DeFi Real Estate
Coding the real estate markets is a long-term goal of the blockchain industry. DeFi may offer a new solution to the sector to speed up its pace.
Decentralized Network Chainlink is now planning to run a real estate token platform that will serve the Latin American market. Investors can buy tokens representing shares in these properties, which will bring in a percentage of the income from the tenants.
LaProp is the company behind it that will use Chainlink technology in the BNB chain to automate payments. This decentralized automation service aims to secure billions of dollars in the DeFi market.
Property management solution
The platform provides investors with commercial real estate investment opportunities that are not accessible due to the high capital requirements.
Chainlink allows the user to create smart contracts that pay a specific amount to specific people at specific times. This enables automatic distribution of payments in a timely manner.
Real estate ownership coding has been tried before, but the promise of a proven service for managing rent payments, maintenance and legal obligations using applicable rules and regulations offers new hope for buyers and sellers.
Real Estate and Blockchain
Blockchain technology is the real estate of the Internet for information: a new platform on which to redefine how industry participants interact.
While some early adopters stumbled and failed, this new market took root and produced ideas that could bring the sector closer to mainstream acceptance.
While blockchain has already transformed industries such as media, real estate asset management, and supply chain management, the real estate token market has yet to thrive.
With only a handful of tokenized real estate service providers around the world, millions of people are preparing for the massive adoption of digital ownership.
The LaProp platform powered by Chainlink is similar to Lofty AI. It harnesses the power of smart contracts to allow users to invest in listed properties and get shared ownership. This allows the user to access management decisions and a share of the rental income.
Dubai: Coinsfera Now Offers Crypto Real Estate
Who or what is Propy?
Propy is an open source global real estate marketplace. In early 2022, Propy made headlines when it facilitated the first sale of NFT for 210 ether, conducting the first-ever NFT real estate auction.
This was the first time in history that an international asset was altered using Ethereum technology. The deal involved the sale of the apartment of TechCrunch founder Michael Arrington in the Ukrainian capital, Kyiv.
Other projects have focused on combining crypto and finance. One such project is Milo. This is a fintech startup that allows users to obtain long-term loans using bitcoin as collateral.