Propy
Propy
Token: PRO


Global Property Store

ICO dates
Start date: 2017-08-15
End date: 2017-09-15

Registrated in: USA

Platform: Ethereum
Type: ERC20

PREMIUM ICO

http://tokensale.propy.com/ Screenshot
Propy categories
Real estate
Propy whitepaper
Video
Propy token sale
KYC passing required No | Whitelist No | Restriction for countries No
Tokens for sale 100,000,000
Token distribution in ICO
35%
35%
Sold tokens 15,077,000
Price 1.00 USD
Propy news, social
Propy search trends in Google
Random whitepaper excerpts

ABSTRACT:
This whitepaper describes a comprehensive platform for remote online
real estate transactions using Smart Contracts. Propy is a proposed
implementation of this platform, which intends to reduce reliance on
intermediaries while improving liquidity and security.
CONTENTS
1. INTRODUCTION
........................................................................................... 3
1.1 BACKGROUND........................................................................................ 3
1.2 THE PROBLEM....................................................................................... 3
1.3 THE SOLUTION....................................................................................... 4
1.4 BLOCKCHAIN AS A NEW STANDARD FOR PROPERTY REGISTRIES......... 5
1.5 TECHNOLOGY LIMITATIONS................................................................... 6
1.6 SMART CONTRACTS FOR THE EXISTING LEGAL FRAMEWORK............. 7
1.7 TOWARDS A DECENTRALIZED P2P SYSTEM..........................

1. INTRODUCTION
1.1 BACKGROUND
Throughout history, real estate has arguably served as the most stable
store of value. Together with labor, as Adam Smith noted in The Wealth
of Nations, land serves as not only a store but a producer of wealth
1
. Real
estate’s popularity over the years has been derived from the fact that not
only is land typically an asset which nearly always appreciates in value, but
also is often an income-producing asset, generating further capital wealth
for its owners. While beneficial for 16th-century nobles to find a safe
place to store value, real estate’s illiquidity nowadays presents significant
inefficiencies for investors, especially those buying properties abroad.
Despite these inefficiencies, the overseas property market is significant
and growing. Between 2009 and 2016 the demand for cross-border real
estate transactions increased 334% from $65 billion to $340 billion
2
. We
believe this market should be and can be much, m...

1. INTRODUCTION
market. Chinese investors own over $28 billion in U.S. residential property
4
.
However, the total value of the U.S. residential real estate market is over
$29 trillion
5
. Foreign investment in the U.S. residential sector could be
potentially equal to hundreds of billions of dollars if foreign investors
were properly educated on how to invest and provided with the facility to,
among other things, close real estate transactions online. In the current
market, Chinese who intend to invest in foreign real estate mainly rely on
family and friends to obtain referrals to local brokers, who in turn work with
international brokers in selling a property. This process is time-consuming,
involves too many intermediaries, and often, the property the buyers are
seeking for is sold to another investor before the process is complete.
The core of the problem is the lack of international standards or
comprehensively available platforms for the electronic transfer a...

1. INTRODUCTION
Propy Registry constitutes the legal transfer of the property and the legal
registration of that transfer. By leveraging Propy Registry and Propy’s smart
contracts platform, unnecessary delays and impediments inherent to legacy
property rights registrations systems could be eliminated. The Propy platform
seeks to enhance the security of transactions while reducing inefficiencies
through its innovative use of mobile, cloud and blockchain technologies
linking buyers, sellers, investors and registries around the world.
1.4 BLOCKCHAIN AS A NEW STANDARD FOR PROPERTY REGISTRIES
Blockchain technology holds great promise for a range of industries and
use cases, including real estate. A blockchain is a type of shared database,
the contents of which are verified and agreed upon by a network of
independent actors. In order for a new piece of data (such as the new
owner of a transferred property) to be added to the blockchain, the
independent verifiers must come to consensus as ...

1. INTRODUCTION
The rise of Ethereum and other smart contract platforms has allowed the
creation of decentralized applications, or DApps. A DApp is an application
whose entire or partial backend code runs on a decentralized ledger with
a user interface to facilitate interaction with the blockchain code
7
. Code
written to the blockchain is publically accessible, and since the code is
running on multiple computers, there is no central point of failure.
Blockchain is currently considered one of the most secure technologies for
digital asset transfer due to its distributed nature and use of sophisticated
cryptography. Smart contacts, therefore, offer a potential solution for the
management of real estate transactions via the introduction of a universal,
distributed ledger that does not require trust in a single third party.
1.5 TECHNOLOGY LIMITATIONS
The main limitations of blockchain technology today are:
1. Transaction time, which is currently ten minutes on average for <...

1. INTRODUCTION
1.6 SMART CONTRACTS FOR THE EXISTING LEGAL FRAMEWORK
Propy’s engineering team has designed a real estate transaction tool
powered by smart contracts, combining solutions from the legal, blockchain
and payments industries. Using blockchain technology, Propy has prototyped
some of the core technology that will become the Propy Registry as a DApp
that allows each party to a real estate transaction — including the broker,
buyer, seller and title agent/notary—to sign off on a transaction for properties
located in California, which is Propy’s intended first market. The workflow
of the processes has been built to meet the market rules within the legacy
property rights registry systems currently existing in the state of California.
The goal of launching the Propy platform only in California at first is to allow
the current prototype to be narrowly focused on driving consumer testing,
adoption and improvements within a closed test market. Thereupon, Propy
will seek to i...

1. INTRODUCTION
foreseeable future. The final stage in that evolution would be the adoption
of the Propy Registry as the legal ledger of record for real estate title
transfers in a given jurisdiction. Based on the founders’ many years of cross-
border property purchase experience to date, we anticipate that emerging
markets, hungry for investments in real estate and less encumbered by
entrenched special interests, such as bureaucracy, corruption and too many
intermediaries, will see the benefits of a pure P2P transaction model. Propy
has already begun the process of accelerating this transition across multiple
metropolitan markets by talking to governments, local lawyers and local real
estate players. The team has developed a network of brokers in the UAE, UK,
U.S. and a pipeline of international customers from Asia.
FIGURE 1. Development Roadmap.
PROPY WHITE PAPER
8
...

1. INTRODUCTION
1.7 TOWARDS A DECENTRALIZED P2P SYSTEM
Traditionally, international standards are established via conventions, laws
and regulations enacted by governments. As a result of the lack of standards
with international scope, the current electronic land title registry solutions
function as multiple incompatible sets of siloed data which must be manually
parsed and translated to work with external platforms. The Propy Registry
can solve that problem. In order to do so, and for the Propy Registry to
ultimately deliver on its full promise, it will need to transition from a ledger
that mirrors official land registry ledgers to being the official ledger of record.
For a government to adopt this technology, it would need to recognize the
legality of the electronic deeds and the ledger. Propy is actively engaging
with local and state governments to accelerate the acceptance of the
Propy Registry as a legally valid ledger of record for real estate transfers.
Additionally, Propy is wo...

Propy Roadmap

1
15 Sep 2016
Real estate marketplace launched
2
15 Dec 2016
Transacting prototype
3
25 Jul 2017
Token sale
4
15 Oct 2017
Beta testing
5
15 Dec 2017
Transacting tool in production
6
20 jul 2020
P2P transactions
David Cowan
Advisors David Cowan

Vinny Lingham
Advisors Vinny Lingham

Mike Costache
Advisors Mike Costache

Bruce Cahan
Advisors Bruce Cahan

Andrey Zamovski
Team Andrey Zamovski Chief Blockchain Architect

Maria Angelova
Team Maria Angelova CFO

John Wong
Team John Wong Business Development, China

Denitza Tyufekchieva
Team Denitza Tyufekchieva Business Development, Europe

John Heeter
Team John Heeter Solidity Developer

Ivan Ivanov
Team Ivan Ivanov Mobile Developer

Oleksii Konashevych
Team Oleksii Konashevych Blockchain architect and researcher

Nedialko Vatev
Team Nedialko Vatev Product Manager

Ivan Ivanov
Ivan Ivanov
Mobile Developer
Software Engineer
Chief Operating Officer
Jeremy Gardner
Jeremy Gardner
Founder, Augur / Founder and Chairman of the Blockchain Education Network (BEN)
Co-founder of Augur / Entreprenuer-in-Residence @ Blockchain Capital
Entrepreneur in Residence
Founder, Augur / Founder and Chairman of the Blockchain Education Network (BEN)
Vinny Lingham
Vinny Lingham
Advisor/Investor
Co-founder & CEO Civic, Identity/KYC Advisor
CEO at Civic
Co-founder & CEO of Civic.com
Founder & CEO @Civic
Mike Costache
Mike Costache
Advisor
Managing Partner at KrowdMentor
Strategy Advisor
Strategy / Investments
Chief Advisor
Blockchain Advisor
Blockchain Investors Consortium (BIC) Pepperdine School Of Law
Managing Partner at KrowdMentor
Michael Arrington
Michael Arrington
Founder of TechCrunch/Arrington XRP Capital
Advisor
Founder of TechCrunch/Arrington XRP Capital