The Australian company is using the tech behind bitcoin for its 'No-Portal' system, which aspires to include property listings, home appraisals, and agent reviews A small startup hopes to take on real estate portal giants such as Zillow and Realtor.com using the same tech behind cryptocurrencies including bitcoin and ethereum--though it has a long way to go.
Propify, an Australian company that launched in January 2017, aims to use blockchain technology to create an online repository of property listings, home appraisal data, and client reviews of real estate agents.
Right now, the company offers listings in California, Arizona and Australia, but plans to expand across the U.S. Blockchain basically refers to a ledger system distributed across participants' computers, and is how most cryptocurrencies keep track of transactions and ownership.
In Propify's case, the company hopes to use a modified version of the ethereum blockchain it calls QUALIS to permanently to provide a more accurate record of everything having to do with real estate sales, CEO Joel Leslie told Inman.
It works like this: home owners and buyers, Realtors, brokers and re...