Cryptocurrency

Edina Realty announces a collaboration with Vodii and Factom

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Edina reality announced that it would be the first company to implement TxM Global Sign, which is a part of Vodii, a software company delivering easy to use software solution. The latest software module by Vodii will allow real estate closing documents to be signed and notarized digitally, in order to simplify and secure communication between agents and stakeholders in the real estate transaction.

Vodii, a Berkshire Hathaway company, recently launched a SaaS certified, white labeled and web-based TxM suite of which TxM global sign is a part of. The management application works in line with Factom’s harmony blockchain.

Edina is also about to complete a deal with Factom harmony to ensure a steady Audit system along with recording activities, data, and events. President of Edina reality Brad Fisher stated that the company considers customer’s experience to be of high importance. He said that building trust and confidence among customers through maintaining consistency in buying and selling processes. He also added that Factom’s harmony blockchain would enhance customer experience and boost the security of peer-to-peer interaction.

The Harmony blockchain creates an audit of available activities, data, decisions, and events to secure processes and elevate efficiency. FounderFounder and CEO of Vodii, Matt Regan commented on the deal by stating that Factom is Paramount for the processes of Edina Realty. He claimed that with the collaboration buying and selling real estate will become easier and the experience would become simpler through its blockchain platform.

Harmony blockchain also creates a secure line of communication where all the involved processes of the transaction, from inquiry to sale, can be observed as the data is stored on a single block. The blockchain can also integrate document security through the software’s processes.

The blockchain is becoming an integrated part of the real estate transactions. Edina Reality’s collaboration with Vodii and Factom can be an example for the real estate and blockchain players to work more closely for better efficiency, transparency, and accuracy. However since Edina is Vodii’s first customer, it needs to deliver with maximum satisfaction for customers.

Lauri Pyle, Chief Operating Officer of Factom Inc., said that Factom expected the real estate industry to be the first use case where it could apply Harmony products. She said that the company is setting new industry standards for borrower and seller protection, through the partnership with Vodii. Pyle also said that buying and selling of a House one of the most important transactions in a person life, Factom strives to provide added value to originators and underwriters through the creation of verifiable and independently auditable blockchain records.

Blockchains uses in commercial real estate has been increasing day by day, and will continue to do so the market has experienced considerable progress and improvements in process management with the use of blockchain. The level of trust by big players on this revolutionary technology has been increasing with more and more transactions being processed. Moreover, blockchain technology has been improving itself continuously, adding additional security and data storage capacity which will further improve processes and transaction.

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