Thread by @NataliePropy

The Instant Payment for real estate deals by Propy is launched!

Why it matters for the crypto industry?

https://twitter.com/propyinc/status/1440382217012736016

1/ Crypto payment has been an all-important part of Propy's settlement protocol for two years now. Technically, the escrow function is executed by a smart contract. However, the crypto transactions are still 100-200/y, while traditional deals in dollars are over 5m/y.

2/ Now as Propy’s instant bank ($) payment is live, it allows the closing of traditional deals to be settled via smart contracts! This means that in the future the escrow function will be executed securely without manual work - for ANY deal.

3/ Propy’s Instant Online Payment terminates the #wirefraud. The funds cannot get to the wrong bank account, thanks to the security of the system and the smart contract back end.

4/ Banks and traditional fintech are keeping up with the crypto space to provide instant UX. This is favorable for the consumer. And this allowed us to build all necessary integrations to connect with the majority of banks in the US.

5/ This functionality is one major milestone of our roadmap that we’ve just achieved! Instant Payment Gateway for real estate deals (in $) has been a technical and legal challenge to develop. It took us years and we are so proud to finally release it! But there is more:

6/ We also launched E-recording, thanks to our partnerships and integrations, and that's the next step towards fully automated settlement. Think of Propy like Tesla - our mission is to build self-driving transactions, and we’re getting there with every single software release.

7/ The real estate NFT marketplace is still under development. The beta version is ready to our active users only. Meanwhile our pipeline of properties to NFT is growing. #propyroadmap

8/ Docusign for Offer Management is live! You may not know it but Propy has a tool to send and submit offers. It is very useful for locations with multiple offer situations. Deals get recorded on the blockchain only when an offer is accepted and e-signed. #propyroadmap

9/ Whitepaper 2.0 will be launched on October 15. We decided to expand it and this is why it takes more time. You’ll be able to see how the future of real estate will look like! Follow @PropyInc to get it first.

#propyroadmap

10/ iOS app - we decided to make it a part of our big November launch. New token economics update will be available there to attract more realtors and home buyers.

#propyroadmap

11/ Stay tuned for more updates on partnerships and token economics.

#propyroadmap

12/ to get the next roadmap update from Propy and receive the Whitepaper 2.0 on October 15th, sign up to our bi-weekly newsletter
propy.com/browse/newslet…