Instant Property Network
What is it?
Instant Property Network is a digitally native marketplace built on a blockchain-based platorm which enables all participants involved in the property buying and selling process to join up their systems and transact directly, reducing the time, complexity, risk and cost of buying and selling property.
Why do we do it?
Property marketplaces around the world have grown organically from paper-based foundations, which means that even with technology they remain complex, slow, inefficient and risk laden for commercial and retail participants. These inefficiencies are becoming increasingly intolerable to regulators, consumers, and businesses within the ecosystem.
Who is participating?
In March 2019, 40 organizations across 23 countries, spanning 5 continents collaborated on testing the Instant Property Network. The first transaction conducted in the trial took just 36 mins from start to finish, emphasizing the potential of new blockchain-based systems to speed up property transactions.