Chainlink is an Ethereum-based blockchain solution for the real estate industry. It enables secure and transparent rent payments between landlords, property management companies and tenants.
DeFi for real estate
The tokenization of real estate markets is a long-term goal of the blockchain industry. DeFi may offer a new solution for the sector to pick up the pace. Decentralized network Chainlink will operate a real estate token platform serving the Latin American market. Investors can purchase tokens representing shares in these properties, which will earn a percentage of the tenants’ income.
LaProp will leverage Chainlink’s track record on the BNB chain to automate payments. This decentralized automation service aims to secure billions of dollars in DeFi markets.
The solution for property management
The platform provides investors with commercial real estate investment opportunities that would otherwise be inaccessible due to high capital requirements. Chainlink allows the user to create smart contracts that will pay out a specific amount to specific people at specific times. This allows automatic distribution of payments in a timely manner.
Property tokenization has been tried before, but the promise of a proven service to manage rent payments, maintenance, and legal obligations using established rules and regulations offers new hope for buyers and sellers.
Real Estate and Blockchain
Blockchain technology is to real estate what the Internet was to information: a new platform on which to redefine the way industry players interact. While some early adopters stumbled and failed, this new market took root and spawned ideas that could bring the industry closer to mainstream acceptance.
While blockchain has already transformed industries such as media, real estate asset management, and supply chain management, the token real estate market has yet to explode. With only a handful of tokenized real estate service providers in the world, millions are poised to embrace digital ownership at scale.
LaProp’s Chainlink-powered platform is similar to Lofty AI. It harnesses the power of smart contracts to allow users to invest in listed real estate and acquire co-ownership. This gives the user access to administrative decisions and a share of rental income.
Bored Ape Yacht Club overwhelmed Ethereum
Who or what is Propy?
Propy is an open source global real estate marketplace. In the summer of 2022, Propy made headlines by facilitating the first sale of an NFT for 210 Ether, hosting the first-ever real estate NFT auction.
It was the first time in history that an international asset changed hands using Ethereum technology. The transaction involved the sale of TechCrunch founder Michael Arrington’s apartment in the Ukrainian capital of Kyiv.
Other projects have focused on bringing crypto and finance together. One of these projects is Milo. It is a fintech startup that allows users to obtain long-term loans using bitcoin as collateral.
