The RealX blockchain technology enables Indian investors to purchase and sell “direct deeded co-ownership” in holiday properties.
A fintech company based in Pune, India has introduced RealX, a blockchain-based registry system that enables Indian people to acquire fractional ownership in real estate.
According to a report in The Economic Times, RealX has teamed with Tripvillas, a holiday home rental service, to integrate ownership of vacation properties based on usage and yield. Tripvillas will also be responsible for administering the basket of co-investment holiday properties.
According to Neera Inamdar, chief operating officer and co-founder of RealX, the COVID-19 epidemic played a significant role in the platform’s launch, as the real estate market’s unpredictability affected both developers and investors. She stated, citing the return of a rather stable market:
“We offer ‘direct deeded property co-ownership,’ and it is in investors’ best interests to do so.” The RealX platform, according to Roshan Lionel Dsilva, founder and CEO of Tripvillas, will soon allow Indian investors to co-own overseas properties on the site, incentivizing dollar-denominated income.
While India’s regulators’ attitude on cryptocurrency adoption remains uncertain, the government continues to experiment with blockchain technology in non-financial sectors.
The Maharashtra government recently created a credentialing system based on the Ethereum blockchain to provide tamper-proof diploma certificates. The Maharashtra State Board of Skill Development has begun producing digitally verifiable credentials in collaboration with blockchain company LegitDoc.
LegitDoc is also in discussions with a few other educational institutions in India about using a similar solution to combat document counterfeiting.
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