With XYO devices allocated to specific land parcels under RE/MAX management, blockchain-based technology will reshape how property changes hands
SAN DIEGO–(BUSINESS WIRE)–XYO Network, the technology bringing blockchain to the real world, has partnered with RE/MAX México to bring new distributed, blockchain functionality to multiple stages of the real estate management process. As the largest real estate brand in Mexico and globally, the blockchain-enabled record-keeping is expected to generate significant new business efficiencies while maintaining transaction records on a distributed ledger, making title deed issuance and management for properties secure and cost-effective.
RE/MAX is the well-known real estate brand that sells more real estate in Mexico and around the world than any other company. Nearly 2,000 RE/MAX agents in Mexico in more than 120 offices have helped millions of people to buy, rent or sell properties over the past 25 years. The company maintains houses, apartments, offices, land and other types of properties for sale and rent.
RE/MAX México will work with the XYO Network to create a decentralized title registry that streamlines the often-complex relationships between buyers, sellers, brokers, title/escrow agents and notaries into agreements over blockchain-based smart contracts. As many industries begin to leverage blockchain technology, XYO will provide the decentralized and geolocation data, and oracle network which underlies the location-based smart contract creation process.
“In real estate, it goes without saying that location is everything, and we see location coupled with the latest blockchain technology as major areas of opportunity for our entire industry,” stated Sergio Felgueres, Chief Operating Officer of RE/MAX México. “The use cases and possibilities in our initial discussions with XYO were intriguing, and we very much look forward to building out the deployment and deepening our relationship with the company.”
“We’re very excited to build out our partnership and to work closely with RE/MAX México,” noted XYO Network co-founder Markus Levin. “As more smart, forward-looking service organizations like RE/MAX México incorporate location verification and the blockchain into standard business processes, we’ll see increased efficiencies and seamless transactions, where both sellers and buyers realize process improvements and broader benefits.”
Separately, tickets for XYO Network’s first cryptocurrency, geolocation and blockchain event in San Diego, Spatial Summit, are on sale now at www.spatialsummit.com. Only 500 tickets are available – get yours today!
Complimentary event tickets are available for credentialed media.
About XYO Network
XYO Network is an effort to create a vast, geospatial, blockchain-powered location network currently under development with the goal to provide accurate, certainty-driven location data on everything from cars to smartphones. By combining location beacons with IoT and mobile devices, the XYO Network ecosystem plans to deliver the verified coordinates and data needed to execute smart contracts, run smart cities, foster financial transactions, and power a legion of location-centric applications. For more information, please visit https://xyo.network.