(The leftmost was Eric Chou, CEO of Snowbridge)
Entrance Proptech, a new platform that facilitates blockchain-based real estate transactions, has been officially launched. Founded by a team of scholars and real estate developers, the platform is the first of its kind that enables direct negotiations and exchanges without the need for middlemen or brokers, thereby preventing manipulation of prices. The platform, called Entrance Proptech MLS, is the result of three years of research and development by Entrance Proptech, the GIS.FCU, and Snowbridge. Snowbridge played a crucial role in building the blockchain platform nodes, writing smart contracts to govern bidding transaction processes, brokering and signing, and implementing a decentralized architecture to secure contract documents and transaction records. The platform’s launch coincides with the recent passage of the Equalization of Land Rights Act.
The Entrance Proptech MLS Platform offers five major advantages over traditional real estate trading methods. First, it features an active matchmaking system that facilitates the easy sale and circulation of properties. Second, it boasts an international real estate circulation system that allows for global property trading. Third, it incorporates a blockchain transaction system that guarantees the security of all transactions by recording them comprehensively. Fourth, it features a real-time viewing system that integrates virtual reality and reality, enabling faster decision-making. Finally, it offers a zero-contact transaction mode with online contracts and automatic document production.
The combination of blockchain technology and smart contracts allows the Entrance Proptech MLS Platform to provide a secure and transparent environment for real estate transactions. The distributed ledger records all documents and operating records, making the process more efficient and reliable.