TORONTO, ON, Jan. 19, 2023 (GLOBE NEWSWIRE) — In January 2023, MLP LP, a joint venture between PropTx, Teranet & AMP, will partner with VisionMAX and Blocksyte, global leaders in enterprise technology solutions, to introduce an industry-changing digital real estate transaction of real estate through a tokenized blockchain solution for property managers across Canada.
This innovative blockchain solution will be integrated into the new multi-listing platform, REALM™, currently used by the Toronto Regional Real Estate Board (TRREB) and its members, with plans to expand to other real estate boards. Located in the province of Ontario, TRREB is Canada’s largest real estate board, established in 1920 with the goal of providing leading service and support to its over 70,000 members and partner board members.
Designed with members’ needs in mind, this blockchain solution will enable a more reliable, streamlined and automated process for managing real estate transactions. “This is another innovation that will drive our industry forward,” says TRREB CEO, John DiMichele. “We are leading the way with a vision for a forward-looking system that will ensure security, efficiency and transparency. This is the first step. to facilitate a seamless and less complex real estate transaction process.”
“As pioneers in the digitization of statutory and commercial real estate solutions, we are incredibly excited to be a part of this next advancement in the real estate space,” said Teranet President and CEO, Elgin Farewell. “Teranet’s deep expertise in modernizing workflows to create value for our clients will help enable our collective goals to continue to advance and deliver innovative solutions to the real estate community.”
The introduction of smart contracts will facilitate the automation of processes and workflows, creating a trusted environment for consumers and real estate stakeholders, while keeping confidential information confidential. Leveraging the secure, immutable properties of blockchain technology, where unauthorized access to or alteration of data is nearly impossible, will elevate our current technology to improve both member efficiency, accuracy and performance.
Standardization through smart contracts and rules-based workflows will elevate our current technology to improve member efficiency, accuracy and performance, while instilling greater trust in the home ownership process. “The key purpose of the blockchain solution is to promote confidence in these large financial purchases – most people’s largest single purchases,” explains AMP Systems LLC President and CEO Carlos Grass. “Securing the deal transaction electronically with a standardized approach and a Know Your Customer KYC identification component ensures that every step of the deal process is digitally captured and authenticated by validated participants.”
“Working with the largest and fastest growing real estate board in the world, the pioneers of electronic land registry solutions and the leader in multi-listing platform technology, is a truly monumental moment,” said VisionMAX President David McDougall. “Our deep expertise in omni-channel technology solutions and blockchain will accelerate these collective organizations’ goals for a more connected, reliable and seamless real estate workflow.”
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About MLP LP
Together with Teranet, AMP Systems LLC and PropTx Innovations Inc., MLP LP was created to deliver an innovative and modern multi-listing platform that will unite real estate agents across Canada. This state-of-the-art configurable back-end platform enables a national, authoritative list database, uniform rules and fair display concepts, technology improvements, reciprocity and a mechanism for greater innovation. Our vision includes a blockchain-enabled platform that elevates the value of real estate professionals in the eyes of consumers. By providing easy access to highly sought-after features, unmatched tools and capabilities, with powerful insights, we enable real estate agents to deliver exemplary service to their clients and customers throughout the real estate transaction process.
Paul McGowan, General Manager, REALM™ 416.346.2309, [email protected]
About VisionMAX
For 25 years, VisionMAX has delivered complex custom-engineered business software solutions for government, banking, insurance, US/Canadian/international telcos, real estate and large retailers. VisionMAX provides a 360-degree view of your customer (including literally a 360-degree metaverse trading view!!). Customer-facing omni-channel interfaces such as online shopping, mobile, kiosks, customer center order reception and automation, Point of Sale, Metaverse VR/AR Commerce, blockchain, bot-AI, interactive TV, voice (IVR, AI) . All omni-channel GUI tools are fed from our central cloud VisionEngine platform. Blocksyte is an American subsidiary of VisionMAX.
David McDougall, President, Blocksyte Inc., | 646-405-5233 x300, [email protected]
