Propy, the global property store, and decentralized title registry launched its ICO campaign on August 15, 2017. The token sale raising over $7.7 million on the very first day, has been termed as a successful ICO by the market experts. The decentralized marketplace and title registry of Propy have been attracting real estate innovators and cryptocurrency investors who are the major contributors to the platform. The platform aims to rebuild the Ukrainian’s real estate market on the blockchain.
The result on the first day of the Propy token sale shows the enthusiasm of the participants. The company is now planning to release the decentralized Propy Title Registry. This is the gist of the fully decentralized P2P real estate market place Propy is coming up with.
In blockchain markets, ICOs are often followed by ventures and partnerships. Following the similar foot print, Propy has partnered with Ukrainian Government so that foreign investors can invest in state’s real estate market. With all Ukrainian’s mainstream cities and property sites on board, Propy also enables the online selling of the properties. In this regard, the company has planned to run a pilot program in collaboration with Ukrainian’s Agency for E-Governance in the coming year.
Oleksandr Ryzhenko, the Head of the State Agency for eGovernance of Ukraine, states that the country aims to be one of the world’s most prominent nations having a comprehensive blockchain ecosystem. Since the real estate makes a vital component of state’s overall blockchain strategy, adoption of Propy will be beneficial for all the parties involved in real estate transactions. This is also going to bring enhanced efficiency, transparency, compliance and security.
Natalia Karayaneva, the CEO of Propy says that the Ukranian’s blockchain based internal governmental database project with Bitfury is an encouraging step for Propy to offer Ukrainian Government a unique technology for facilitating real estate transactions and also attracting foreign investors. Real estate market in Ukraine will become attractive for investors as they would be able to buy properties at lower-prices with complete security and transparency Propy provides.
ERC-20 Propy tokens allow both simple integration into users’ wallets and ease of use in traditional exchanges. The token sale has come up with 100,000,000 PRO tokens to be issued and already began on August 15, 2017.
To know more about Propy and to participate in its on-going ICO, please visit http://tokensale.propy.com/