Propy opinions
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So far,1 of opinions have been recorded for Propy. These opinions are not investment recommendations but the community's perspective on Propy. Please do not make a purchase decision based on these Propy opinions.
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Propy opinion #1
In the Propy (PRO) project, the aim was to provide a block-chain based general ledger of property ownership for properties around the world. The problem was that buying and selling real estate is very bureaucratic. Think of notary appointments, registrations and land register etc. In order to simplify this bureaucratic act, the ERC-20 Blockchain was designed to enable the change of ownership of real estate by one or more parties by means of Smart Contracts.
To me, the reason sounds obvious, but the legal and therefore legal background is not obvious to me. Without a clear worldwide equal legal guideline, the content of these Smart Contracts is of no value to me, as I might not be able to claim them in real life.
According to the fictitious principle: "Hello, I bought the house in Miami and now I want to get in and unfortunately you have to get out of there".
I think others see the problem the same way, which is reflected in the market capitalisation of only $50 million.