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Blimp, a real estate industry business software that provides cryptocurrency in exchange of transaction data, announced in a press release that it has secured its first $200,000 from investment company Dispersion. The funding is part an effort to raise an additional $1 million.
Dispersion focuses on “DeFi” organizations, or decentralized finance.
DeFi is a new technology leveraging the blockchain and cryptocurrencies to create a more efficient, secure and affordable method of providing financial services.
The Blimp app is available for both major platforms, offers task management and relies on communication features to exchange deal information between all stakeholders, such as sellers, agents and mortgage parties.
Blimp compensates all parties in a real estate deal when they execute a transaction on its platform, backed by Blockchain technology. The Home Network Foundation backs and manages the tokenization of Blimp deals.
“The Home Token builds on decentralized blockchain technology and acts as a reward to align value flows more broadly and fairly in the transactional ecosystem,” the release stated.
As Inman previously reported, “consumers earn Home tokens by contributing information to the Foundation, such as financial goals, lifestyle needs, and any type of information required for preapproval or validation of a sales lead, according to a white paper published by Home Network Foundation.”
Agents earn them by signing up clients and referring other professionals and so on. The intent is to build a national network of housing data and industry professionals that rewards every contributing party, thus, securely democratizing the real estate industry.
Matt Shaw, co-founder and chief executive of Blimp, said in the release that it’s widely known the traditional deal model is in need of change.
“By empowering customers, real estate agents and other professionals to engage in direct, peer-to-peer collaboration, we can eliminate many of the stresses, delays, and disappointments that plague the home buying process,” he said.
Have a technology product you would like to discuss? Email Craig Rowe
Craig C. Rowe started in commercial real estate at the dawn of the dot-com boom, helping an array of commercial real estate companies fortify their online presence and analyze internal software decisions. He now helps agents with technology decisions and marketing through reviewing software and tech for Inman.