A fintech entity headquartered in Pune, India has reportedly introduced a blockchain-powered registry solution, dubbed “RealX”, facilitating acquisition of fractional ownership in properties for the locals.

Specifically, RealX has reportedly formed an alliance with Tripvillas – a holiday home rental service – in an effort to combine ownership of holiday properties accordingly with usage and yield. 

Tripvillas will reportedly also be in charge of the management for the basket of holiday properties, devoted to co-investment.

As revealed by RealX chief operating officer and co-founder Neera Inamda, the global health crisis has been the primary force fueling the release of the platform, since the real estate market’s instability caused worries to both property developers and investors.

“We offer ‘direct deeded property co-ownership’ and it is in the best interest of investors to become direct co-owners of the property.” Inamdar further claimed, mentioning the return of a market with considerable stability. 

Roshan Lionel Dsilva, founder and current Head of Tripvillas, reportedly shared that the RealX platform will be making it possible for investors across the nation to co-own global properties on the platform, to support the increase of dollar-denominated income.

Regardless of the uncertain attitude of Indian regulators towards crypto adoption, the nation keeps on experimenting with blockchain technology in non-financial sectors.

Recently, the government of Maharashtra reportedly completed the implementation of a credentialing network, dedicated to offering tamper-proof diploma certificates, via utilizing the Ethereum blockchain.