XYO Network, a proof of location protocol that connects the blockchain to the real world announced they have partnered with RE/MAX México to bring new distributed, blockchain functionality to multiple stages of the real estate management process.
As the largest real estate brand in Mexico and globally, the blockchain-enabled record-keeping is expected to generate significant new business efficiencies while maintaining transaction records on a distributed ledger, making title deed issuance and management for properties secure and cost-effective.
RE/MAX is the well-known real estate brand that sells the most real estate in Mexico and around the world than any other company. Nearly 2,000 RE/MAX agents in Mexico in more than 120 offices have helped millions of people to buy, rent or sell properties over the past 25 years. The company maintains houses, apartments, offices, land and other types of properties for sale and rent.
Decentralized Title Registry
RE/MAX México will work with the XYO Network to create a decentralized title registry that streamlines the often complex relationship between buyers, sellers, brokers, and title/escrow agents and notaries into agreements over blockchain based smart contracts and agreements. As many industries begin to leverage blockchain technology, XYO will provide the decentralized and geolocation data and Oracle network which underlies the location-based smart contract creation process.
“In real estate, it goes without saying that location is everything, and we see location coupled with the latest blockchain technology as major areas of opportunity for our entire industry. The use cases and possibilities in our initial discussions with XYO were intriguing, and we very much look forward to building out the deployment and deepening our relationship with the company.”
“We’re very excited to build out our partnership and to work closely with RE/MAX México. As more smart, forward-looking service organizations like RE/MAX México incorporate location verification and the blockchain into standard business processes, we’ll see increased efficiencies and seamless transactions, where both sellers and buyers realize process improvements and broader benefits.”
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