Dominik Schiener has already stated in earlier AMAs and ‘IOTA Talks’ that the real estate sector is an intriguing technology field for IOTA Tangle. In the last week of January, for instance, the IOTA co-founder confirmed that the property market is very involved in the potential tokenization and smart contract features of IOTA in specific.
Furthermore, Schiener announced in mid-December that perhaps the IOTA Foundation is indeed preparing to introduce IOTA Access with its foremost investor in the property market.
Currently, only a few days back, PropOps, a tech business headquartered in Ludwigsburg, Germany, reported that it relies upon IOTA Tangle to offer “a checkbook-maintained real estate portfolio” to private owners and commercial real estate.
As viable option, PropOps operates as a service provider to package data pertaining to real estate functions and give web and mobile applications on the basis of its cloud. The facility is active now.
The business is not a start-up, as Chris Müller stressed in his current release of the ‘HelloIOTA Roundup.’ The promoters, Alexander and Philipp Feil, were running the Feil, Feil & Feil GmbH, a real estate industry, for over 10 years and have over 90 employees globally.
With PropOps, the siblings provide a software system for property management that seeks to remove the “confidence dilemma” of the property industry. The platform allows firms as well as property owners to attain the database independence they require “to satisfy the rising demand, the growing valuation of building facilities, and the rising requirement of knowledge in asset and portfolio management.”
PropOps, similar to the automobile industry, seeks to include a “chequebook” real estate tech solution that tracks all details on the IOTA Tangle in quite a tamper-proof and streamlined way. Furthermore, “partial real estate and facility management mechanization will be feasible all along route, setting the stage for practical utilization sensor systems and robotics.”
Eventually, via the FieldPass cloud-based microservice framework, which has been constructed and implemented within the business community for a decade, PropOps often provides a gateway to utility firms in the property market.
https://t.co/3xEHZMJxMY now can document the maintenance history of your real estate portfolio decentralised and tamper-proof in the blockchain. Germans call that “scheckheftgepflegt”. A big thanks to the @iotatoken Foundation and its #SmartCity and #SupplyChain initiatives! pic.twitter.com/TKPXjILTd2
— PropOps (@propops_cloud) February 15, 2021
Utilizing PropOps, service providers must show that their duties have been fulfilled-a hash of the data is then saved on IOTA Tangle. This generates a tamper-proof archive of what was achieved, when. The ability of the approach is massive, as Mueller described mostly during HelloIOTA Roundup:
Only to provide an insight, for assets valued at over EUR1 billion, they render their services. The owners of all these properties have still not decided to utilize the IOTA-based approach, just to be fair, so they’re now communicating to them and explaining the advantages such an approach might have.
