Blockchain-based platform for fractional property ownership launches in India. RealX, an Indian blockchain-based platform, enable Indian investors to sell and purchase “partial ownership” of holiday properties.
According to The Economic Times’s report, A new partnership between RealX and Tripvillas combines ownership of holiday homes according to usage and yield. TripVillas will also take the lead responsibility for managing the portfolio of holiday properties for co-investment.
COVID-19 pandemic was the main motive
Co-founder and COO Neera Inamdar clarified that the COVID-19 pandemic was the main motive in RealX’s launch. Since property developers and investors were fearful about the real estate market’s instability.
Roshan Lionel, founder and CEO of Tripvillas, noted that on the RealX platform Indian investors will be able to secure dollar income by partial ownership of international properties.
Although Indian regulators have been quiet on crypto adoption strategies, the country is still implementing trials in non-financial areas with blockchain tech.
LegitDoc’s partnership with the government of Maharashtra
A recent initiative from the government of Maharashtra provides certificates that are tamper-proof using the Ethereum blockchain. LegitDoc, a blockchain startup, has partnered with the Maharashtra State Board of Skill Development to issue digitally verifiable certificates. Moreover, As part of its counter-forgery solutions, LegitDoc is also consulting with a few other Indian educational institutions.