RESAAS Services Agrees to License Innovative Blockchain Platform
RESAAS Services Inc. earlier announced that it had signed an agreement with the LEGACY Council of Canada for its cloud-based blockchain platform. The agreement was for LEGACY's licensing of the said technology. Streetwise Reports said that the firm is dedicated to the education of global investors on the different services with regards to finance, real estate, and estate planning.
Jean-Guy Francouer, chief growth officer at the LEGACY Council of Canada, said that the value added from the transaction is 'tremendous,' since the platform was built by RESAAS. The LEGACY executive recognized the award-winning quality of the tech platform, already valued at $25 million, and said that they will deploy the product once it's been refitted with the specifics that their company is best known for.
RESAAS didn't stop there. Proactive Investors reported that It entered into an agreement with San Francisco blockchain company Real Estate Consortia Inc. to create and issue a first-to-market title token, which the company will oversee for the former. It is designed for use with every property in the United States and in Canada as well.
This agreement was signed last week. During that period, RESAAS and Real Estate Consortia have also enlisted the help of investment bank US Capital Global to create funding for the partnership through convertible notes. The joint venture amount totaled US$7 million.
Tom Rossiter, RESAAS' chief executive officer, had said that the company was excited to partner with Real Estate Consortia. He said that the company would use tokenization in an effort to help the real estate sector. Tokenization isn't unheard of these days; it has been one of the preferred methods to create a sharing of real estate, where coins represent pieces of properties that can be traded.
He continued by saying that the opportunities for intelligent use of blockchain technology were represented by Real Estate Consortia's title token innovation. The token energy was going to be a great addition to members, the business, and all of the real estate landscape across the US and Canada.
Rossiter added his thoughts on the LEGACY Council-RESAAS partnership, meanwhile, saying that the relationship had uncovered areas wherein traditional property methods can be replaced with innovative property technology. LEGACY is committed to creating an easy-to-use, innovative platform for thousands of their members, and that is the answer provided by Rossiter, RESAAS, and the technology that they are currently offering.
The partnership between these companies and RESAAS only goes to show the growth of real estate. It shows how property markets are primed for disruption for the better by next-gen property technology.