An Interview With Propy

In an exclusive interview with BitcoinWorld, We got a chance to interact with Natalia Karayaneva, Chief Strategy Officer at Propy, In this interview, We discuss what is Propy, is all about & what are their future plans, 

• Can you explain how Propy leverages AI and blockchain technology to simplify real estate transactions, and what sets it apart from traditional platforms?

Natalia: Propy revolutionizes the real estate industry by offering a decentralized, secure, and efficient platform for property transactions. The digital transformation of real estate is not about digitizing the physical structure itself but rather the ownership, transactions, and management processes surrounding it. Blockchain and smart contract technologies provide an immutable, transparent, and efficient foundation for these aspects of real estate, making it a genuinely digital asset. Additionally, blockchain technology streamlines the transaction process, reduces fraud, and provides a transparent and secure record of ownership. We have utilized AI as well to automate the review and processing of legal documents, such as contracts and title deeds. AI can streamline document verification, ensuring that all necessary information is accurate and compliant with legal standards, reducing human error, and speeding up the transaction process.

• What inspired you to co-found Propy, and how has your background in real estate development and software engineering influenced the platform’s evolution?

Natalia: There’s a deep-seated desire for change, for a world where property and financial security aren’t contingent on the stability of centralized systems. My journey in real estate began as a real developer and agent before transitioning into the world of technology. My experience in real estate helped me better understand the inefficiencies in its processes and the need for transparency within transactions. This realization led me to explore how blockchain technology works. My background in software development allowed me to grasp the concepts quickly, ultimately paving the way for the creation of Propy. Propy is committed to pushing boundaries in real estate. We’re exploring new frontiers in blockchain and real estate, continuing to innovate and redefine how we experience property transactions.

• How does Propy ensure the security and efficiency of real estate transactions on its platform, and what benefits does this offer buyers and real estate professionals?

Natalia: Security is at the core of everything we do at Propy. Propy uses a combination of a decentralized title registry and an escrow settlement protocol for securely storing land records and facilitating transactions. By leveraging blockchain, we ensure that every transaction is recorded in a decentralized, tamper-proof ledger. For buyers, this means a more streamlined and secure purchasing experience, free from the traditional risks of fraud or errors. For real estate professionals, our platform offers tools that automate much of the transactional process, allowing them to close deals faster and with greater accuracy, ultimately enhancing their productivity and client satisfaction.

• With over $10 billion in U.S. homes minted in the Propy ecosystem, what impact do you see blockchain having on the future of real estate transactions?

Natalia: Blockchain technology has the potential to transform the real estate market and even resolve the stagnation in areas like the US housing market. By bringing the entire property transaction on-chain, purchases can be conducted more seamlessly, affordably, and quickly. This makes property investments more attractive to first-time buyers who were previously held back by the complicated traditional real estate acquisition model. While Propy enables the 2-click experience when purchasing a home today, in the future the ability to fractionalize real estate will allow a broader range of investors to enter the market. By lowering these entry barriers and facilitating more transactions, blockchain technology can increase liquidity in the real estate market, democratize access to property investment, and help break the deadlock in the market.

• Propy is known for its educational programs for modern real estate professionals. Can you share more about these initiatives and how they support the industry’s transition to blockchain?

Natalia: At Propy, education is at the heart of our mission. We’ve crafted specialized courses to ensure real estate professionals are fully prepared to navigate the rapidly changing industry, especially as blockchain, cryptocurrency, and virtual properties become more prevalent. Our Crypto Certified Agent course offers in-depth knowledge, covering everything from the basics of crypto and its application in real estate to the nuances of blockchain, smart contracts, and tokenization. This certification not only enhances realtors’ ability to discuss cryptocurrencies with clients but also positions them as industry leaders who can safeguard their clients from potential scams.

We also offer the Meta Agent Course, a crucial resource for those eager to delve into the world of metaverses and digital land investing. This course equips agents with the expertise to find and sell virtual properties, helping them stay ahead in an increasingly digital market. By providing these educational opportunities, we’re not only accelerating the adoption of blockchain in real estate but also enabling agents and brokers to offer top-tier services that meet the demands of today’s tech-savvy clients

• How does Propy’s SaaS platform improve the real estate closing process for brokerages and what feedback have you received from users about its effectiveness?

Natalia: Propy’s platform streamlines the entire closing process by automating key steps like document signing, notifications, analytics and compliance tracking.  This reduces the time and effort required by all parties involved, making transactions faster and more efficient. So far, the responses have been overwhelmingly positive. They appreciate the transparency, the reduction in manual errors, and the significant time savings. Many have highlighted how our platform allows them to focus more on their clients and less on paperwork, which is exactly what we set out to achieve.

• As a regular panelist and speaker at global blockchain events, what trends are you currently seeing in the intersection of real estate and blockchain?

Natalia: We’re witnessing an exciting new chapter in the mainstream adoption of Web3 technology, where blockchain is beginning to converge with other emerging technologies like AI, the IoT, and digital identity systems. At the same time, Real-World Assets (RWA) are being brought on-chain, much like what we’re achieving with real estate at Propy. This trend is part of a broader movement towards the democratization of finance, where traditionally exclusive markets are becoming more accessible and inclusive on a global scale. Unlike cryptocurrency, property represents a tangible and stable investment, which is why I expect the on-chain economy of the asset to gain significant momentum. Public organizations are increasingly interested in tokenizing their property assets, signaling a shift in how we perceive ownership and investment.

This evolution also highlights the need to redefine property rights, moving away from conventional deeds controlled by counties and governments towards an open-source, community-governed property registry. By embracing these changes, we’re paving the way for a more decentralized and transparent approach to real estate.

• What are your long-term goals for Propy, and how do you envision the platform’s role in transforming the global real estate market?

Natalia: Our long-term goal is to make Propy a global leader in real estate, a platform where buying, selling, and managing property is as easy and secure as possible. Right now, we are focused on bringing one million home addresses on-chain through PropyKeys. And we are well on our way, with over $10 billion in U.S. real estate already minted in our ecosystem and aiming for $50 billion by 2025.

We want to revolutionize home buying for younger generations and crypto holders, enabling them to purchase properties using their digital assets in a seamless, fully on-chain process. Propy aims to integrate more AI-driven solutions to further automate real estate transactions and ensure a safe and effortless user experience.

Additionally, we’re looking to expand into regions like APAC, where there’s a lot of potential to simplify and open up the real estate market. In the end, we want Propy to be the go-to platform for everyone, making property transactions more affordable, transparent, and efficient worldwide.

Stay tuned for more thought-provoking content and engaging interviews on the website, World of Cryptocurrency & Blockchain News.