RE/MAX Mexico and XYO Network to Use Blockchain Payments for Real Estate Transactions
There's no denying that real estate is one of the most promising and fast-growing niches in the entire commerce world. Therefore, it doesn't come as a surprise that the largely interruptive emergent technology – blockchain – has finally woven its way to such an industry.
At the helm of this is XYO Network that gives the real state `medium the much-needed proof of location that is needed to connect the real world with MAX/RE Mexico in a bid to bring up the newly distributed functionality that captures the multiple stages of the average real estate procurement management process.
The Biggest Player In The Market
RE/MAX is one of the largest real estate and property brands in central and South America. And considering that the introduction of a blockchain-enabled network means that the project will go global, it is not hard to see that the initiative is bound to generate a large chunk of new business opportunities stemming from a variety of efficiencies realized from the new partnership.
The significance of blockchain technology is clearly seen through the following pointers. For starters, now transactions will be maintained on a kind of computerized distributed ledger that allows title deed management and issuance for properties across almost al income levels.
Secondly, blockchain technology will be paramount in connecting the more than 2000 different MAX/RE agents scattered across Mexico and the surrounding regions. In addition to this, the more than 120 standalone offices that have in the past aided prospective customers and clients looking to sell, rent or buy properties all over North and Central America for the past 25 years. Apart from this, the company is heavily involved in maintaining offices, apartments, land, and houses on behalf of other clients for sale and rent.
Decentralized And Streamlined Title Registry
MAX/RE Mexico is poised to work with the newly-done XYO network to decentralize and effectively streamline the main company's title registry.
In other words, this will eliminate the obstacles between sellers, buyers, brokers, and escrow/title agents and effectively pave a new way for blockchain-based agreements and contracts. What's more, as more and more industries start to leverage the potential of blockchain technology heavily, XYO will be at the forefront having established themselves as the go-to company for geolocation data and decentralizing data. Of course, all of this aims at implementing and improving the current cumbersome smart contract initialization and creation process.