Overview

  • Country USA
  • CategoryReal Estate/ Transaction Management System

CPROP’s blockchain-powered workflow management system is a planned integration with property portals around the world to help deliver an unprecedented level of trust to real estate transactions while increasing their revenue opportunities.

Project stage

Prototype

Detailed description

Cryptoproperties LLC (“CPROP”) aims to eliminate the largest inefficiencies associated with residential real estate transactions. By integrating blockchain technology into its proprietary plug-and-play transaction management platform, CPROP strives to deliver an unprecedented level of trust and transparency to transactional real estate. 

Execution of the business is simplified by partnering with existing property portals and brokerages around the world, accelerating our speed to market while helping our partners increase their revenue opportunities and competitive differentiation. For property buyers, CPROP’s goal is to remove anxiety associated with long-distance transactions by providing: 

  • Blockchain-authenticated documents; 
  • Smart contract escrows; 
  • Process automation; 
  • Options to choose user-rated service providers. 

CPROP aspires to bring blockchain technology into the mainstream of global real estate while enhancing the integrity of the property closing process. 

CPROP’s mission is to develop and deliver blockchain-powered solutions that address acknowledged pain points in the global real estate industry. The solutions we develop must meet the following guidelines: 

  • Solutions must be technically and commercially viable today which often means integrating with existing business processes, rather than creating entirely new commercial paradigms that are difficult to implement. 
  • Technologies other than blockchain can be incorporated opportunistically to maximize commercial value. 
  • Commercial partnerships can be established early-on to provide validation, accelerate speed to market, and ensure scalability.

Problem

Lack of trust

  • Untrusted escrow agents 
  • Unfamiliar legal frameworks 
  • Untrusted government registries 
  • Untrusted service providers (agents, lawyers, etc.) 

Inefficiency

  • Manual, complicated closing processes that can kill a deal

Risk

  • Loss of, or flawed, documentation

Stress

  • Anxiety associated with unfamiliar processes 
  • Fear of unanticipated delays and costs

Solution

Lack of trust

  • Smart contract escrows 
  • Blockchain-verified documentation 
  • Deed token 
  • User-rated community of service providers

Inefficiency

  • Process automated workflow management platform

Risk

  • Decentralized, secure file storage (IPFS)

Stress

  • Transparent workflows packaged in a seamless integration with property portal

Features

Buyers & Sellers 

  • Ability to achieve greater level of trust with respect to escrows and closing documentation
  • Improved visibility on the status of the closing process every step of the way
  • Ability to source user-rated service providers – especially important if the acquired property is located far away
  • Facilitate transactions denominated in cryptocurrency

Property portals

  • Exposure to new revenue opportunities; diversification of traditional ad-based revenue sources
  • Improved user experience for their customers
  • Competitive differentiation with a simple, blockchain-powered, native language transaction process

Service providers

  • Alternative, non-advertising channel to reach buyers, especially from overseas
  • Access to valuable workflow management tool which simplifies and enhances closing process efficiency
  • Reduced time to close and risk of transaction failure
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Additional links

  • Token details

    • Token symbol ? Token symbol — a shorten token name. It is used during an ICO and after the coin listing at the cryptocurrency exchanges. : CPROP
    • Fundrasing target ? Fundraising target — the maximum amount of funds to be raised during an ICO. When it is reached, the developers stop selling the tokens because they do not need to raise more money for the project development. : 20,000,000 USD
    • Token type ? Token type — a platform for a startup launch that influences the stability of blockchain operation, the speed of transactions and the fees. :Ethereum (ERC20)
    • Soft cap ? Soft cap — the minimum amount of funds to be raised for the project development. Sometimes when the soft cap has not been reached, the money is returned to the participants. :2,000,000 USD
    • Role of token ? Role of Token — type of token depending on the opportunities it offers to its owner. Utility tokens give their owners a right to use the project services, security tokens are aimed at bringing profit, and currency tokens are a money substitute. :Utility token
    • Total supply ? Total supply — a total amount of tokens that will be released by the developers. :6,500,000,000 CPROP
    • Escrow agent ? Escrow agent — a qualified agent who has the right of signature in a multisig wallet. An escrow agent participates in an ICO, monitors the financial operations of the developers and confirms their fairness. :No
    • Tokens for sale ? Tokens for sale — the number of tokens offered to the participants of an ICO. :4,600,000,000 CPROP
    • Whitelist ? Whitelist — a list of participants, who get an opportunity to buy tokens. To be whitelisted, you need to register on time because the number of participants and the registration period are usually limited. :Whitelist Closed
    • Additional emission ? Additional emission — an additional release of tokens. It can be done once after the crowd sale or on an ongoing basis. In the projects with a limited emission there is no additional emission. :No
    • Exchange listing ? Exchange listing — an assumed date when the token will be listed at a cryptocurrency exchange. The developers usually indicate it in a roadmap and a white paper. :NA
    • Accepting currencies ? Accepting currencies — cryptocurrencies and fiat currencies that can be used for buying the project tokens. :ETH,
    • Can't participate ? Can't participate — the countries where it is prohibited to buy tokens. These can be countries where ICOs are prohibited altogether, or countries that have the requirements that a particular project does not meet. :Belarus, Burundi, Central African Republic, China, Congo, Crimea, Cuba, Iran, Iraq, Lebanon, Myanmar, North Korea, Somalia, South Sudan, Sudan, Syria, USA, Venezuela, Yemen, Zimbabwe,
    • Know Your Customer (KYC) ? Know Your Customer — a verification procedure for ICO participants, during which the developers can ask for personal data, a photo and a scanned copy of a passport of a potential investor. :No
    Get details
  • Token and Funds Distribution

    Token distribution date

    NA

    Unsold tokens

    NA
      • Token Distribution

        • Funds Distribution

      Sale schedule

      Round Token Price Bonus Min / Max Purchase Soft Cap Hard Cap
      ICO — Ended
      30 Sep 00:00 UTC
      31 Oct 00:00 UTC
      0.01 USD No - 2,000,000 USD 20,000,000 USD
      Private sale — Ended
      09 Jul 00:00 UTC
      NA No - Uncapped Uncapped
      Pre-sale — Ended
      30 Apr 00:00 UTC
      10 May 00:00 UTC
      NA No - Uncapped Uncapped
      • Team

        • Adam Koehler photo
          Adam Koehler
          Founder
        • Sandy Selman photo
          Sandy Selman
          Founder
        • Luke Sestito photo
          Luke Sestito
          Founder
        • Justin Davis photo
          Justin Davis
          Lead Architect
        • Melissa Allen photo
          Melissa Allen
          Manager
        • Jesse Sestito photo
          Jesse Sestito
          Regional Director, Asia
        • "PEERCHEMIST" photo
          "PEERCHEMIST"
          Blockchain Development
      • Advisors

        • Giotto De Filippi
          Crypto Economics
        • Vinko Karamatic
          Marketing & Branding
        • Piper Moretti
          Real Estate Brokerage Advisory
        • Emily Rudolph Bush
          Real Estate Industry Advisory, Marketing
        • Bryan Lemster
          Smart Contract & Blockchain Development
        • Amy Karr
          Marketing & Branding
        • Alex Allison
          Real Estate And Property Portal Industry Advisory
        • Jon D. Zinman
          Real Estate Law
        • Alex Firmani
          Software Development
        • Nils Veenstra
          Marketing And Community Outreach
        • Saleh Bawazir
          Blockchain Consulting Ltd.

      Roadmap

      • Jul 2018

        Beta testing

      • 2019
        • Following beta testing with multiple parties
        • CPROP ultimately plans to establish standards for utilizing public blockchains for real estate

      Activity