RealX, a blockchain-based platform, enables Indian investors to buy and sell “direct deeded co-ownership” in vacation homes and other vacation properties.
Earlier this year, a fintech company located in Pune, India, established a blockchain-based registry system called RealX, which allows Indian people to purchase fractional ownership in properties.
According to a story in The Economic Times, RealX has joined with Tripvillas, a holiday home rental service, to combine ownership of vacation houses in line with usage and income. Tripvillas will also be in charge of administering the basket of holiday properties that will be available for co-investment with other investors.
After the COVID-19 epidemic broke out, RealX chief operating officer and co-founder Neera Inamdar said the platform’s launch was a crucial impetus since the real estate market’s unpredictability affected both property developers and investors. She cited the return of a market that was comparatively steady when she said:
“We offer ‘direct deeded property co-ownership’ and it is in the best interest of investors to become direct co-owners of the property.”
Roshan Lionel Dsilva, the founder and CEO of Tripvillas, announced that the RealX platform will soon allow Indian investors to co-own overseas properties on the platform in order to get dollar-denominated income as a result of their participation.
India is continuing to experiment with blockchain technology in non-financial niches, despite the fact that the country’s regulators’ stance on cryptocurrency adoption is still uncertain.
Recently, the government of Maharashtra launched a credentialing system that uses the Ethereum blockchain to provide diploma certificates that are tamper-proof and cannot be altered. As a result of a collaboration with blockchain company LegitDoc, the Maharashtra State Board of Skill Development has begun producing diplomas that can be verified digitally.
LegitDoc is also in discussions with a number of other educational institutions in India who are interested in implementing a similar solution to combat the continued falsification of official papers in the country.