Propy Inc. Holds Firm on Support of Blockchain and Crypto Communities

MIAMI - March 28, 2023 - PRLog -- In light of the current financial situation, we at Propy believe that the use of blockchain technology and cryptocurrency can provide solutions for some of the challenges that traditional financial systems are facing. As a global real estate platform that leverages blockchain technology, we have seen firsthand how it can increase transparency, reduce transaction costs, and improve the efficiency of real estate transactions.

Propy believes the decentralized nature of blockchain technology provides a secure and transparent platform for financial transactions. This is particularly relevant at a time when trust in traditional financial systems is at an all-time low. By utilizing blockchain technology, we can create a more secure and transparent financial system that is accessible to everyone.

"The most recent events with Silicon Valley Bank, and the following two smaller banks, demonstrate the importance of blockchain's decentralized nature as a safe haven, and the need for faster adoption of the Web3 technologies and their real-life applications," said Natalia Karayaneva, CEO of Propy. "Real estate is one such application."

The most healthy blockchain trend that will uplift real estate as the underlying asset is Risk-weighted assets, "RWA backed DeFi". These types of assets are used to determine the lowest amount of capital a bank must keep lining up to the risk profile of its lending activities and other assets. This has to be done so the risk of insolvency is reduced and depositors are protected. The more risk a bank has, the more capital it needs on hand. This big trend will be similar to the magnitude of "ICOs" and "NFTs".

According to Redfin, one in nine first-time U.S. homebuyers (11.6%) surveyed in the fourth quarter of 2021 said selling cryptocurrency had helped them save for a down payment.

Propy wants agents and consumers to know that there are ways to avoid wire and title fraud while closing traditional deals securely and faster. It's through title and escrow processes on blockchain.

About Propy
Propy provides a secure and efficient way to use your wallet to log into the platform and take advantage of faster, safer, and more secure real estate transactions. Founded in Silicon Valley, Propy is on a mission to revolutionize real estate. The company's smart contract innovation removes inefficiencies, streamlines everything from offer to closing to recording title, records everything securely on blockchain, and enables buyers and sellers to use traditional financing, dollar or cryptocurrency payments, or NFT-ed property sales. The company has processed $4bn in transactions and recorded them on blockchain. Learn more at Propy.com