TORONTO, ON, Jan. 19, 2023 (GLOBE NEWSWIRE) -- In January of 2023, MLP LP, a joint venture between PropTx, Teranet & AMP will be partnering with VisionMAX and Blocksyte, global leaders in enterprise business technology solutions, to introduce an industry-changing digital Real Estate transaction of real property through a tokenized blockchain solution for Real Estate Boards across Canada.
This innovative blockchain solution will be integrated into the new multiple listing platform, REALM™, which is currently utilized by the Toronto Regional Real Estate Board (TRREB) and their 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-edge service and support to its 70,000-plus Members and Partner Board Members.
Designed with Members’ needs at the forefront, this blockchain solution will enable a more trusted, streamlined, and automated process for managing Real Estate transactions. "This is another innovation that will propel our industry forward,” says TRREB CEO, John DiMichele. “We are leading the way with a vision for a future-facing system that will ensure security, efficiency, and transparency. This is the first step in facilitating a seamless and less complex Real Estate transaction process."
“As pioneers in the digitization of statutory and commercial real property solutions, we are incredibly excited to be part of this next advancement in the Real Estate space,” says Teranet President and CEO, Elgin Farewell. “Teranet’s deep expertise of modernizing workflows in order to create value for our customers will help enable our collective goals of continuing to foster and deliver innovative solutions to the Real Estate community.”
The adoption of smart contracts will facilitate the automation of processes and workflows, creating a trusted environment for consumers and Real Estate Stakeholders, while maintaining confidential information truly confidential. Leveraging the secure, immutable qualities of blockchain technology, where unauthorized access to or alteration of data is near impossible, will elevate our current technology to improve both the Members’ efficiency, accuracy and performance.
Standardization through smart contracts and rules-based workflows will elevate our current technology to improve the Members’ efficiency, accuracy and performance, all while instilling greater trust in the homeownership process. “The key purpose of the blockchain solution is to promote trust in these large financial purchases - most people’s largest single lifetime purchase,” 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 each step of the deal process is captured digitally 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 multiple listing platform technology, is a truly monumental moment,” says 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.”
-30-
About MLP LP
Together with Teranet, AMP Systems LLC and PropTx Innovations Inc., MLP LP was created to deliver an innovative and modern multiple listing platform that will unite Real Estate Professionals across Canada. This state-of-the-art configurable back-end platform facilitates a national, authoritative listing database, unified rules and fair display concepts, technology enhancements, reciprocity and a mechanism for greater innovation. Our vision includes a blockchain-enabled platform that elevates the value of Real Estate Sales Professionals in the eyes of the consumer. By providing singular access to highly sought features, unparalleled tools and capabilities, with powerful insights we enable Real Estate Sales Professionals to deliver exemplary service to their clients and customers throughout the Real Estate transaction process.
Paul McGowan, General Manager, REALM™ 416.346.2309, hello@realmmlp.ca
About VisionMAX
For 25 years VisionMAX has delivered complex custom-developed enterprise business software solutions for government, banks, 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 commerce view!!). Customer-facing omni-channel interfaces such as web e-commerce, mobile, kiosks, call center order taking & 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 a US subsidiary of VisionMAX.
David McDougall, President, Blocksyte Inc., | 646-405-5233 x300, david.mcdougall@blocksyte.com
