The RuufPay Protocol is a blockchain project aiming to bridge the gap between cryptocurrency and real estate and is designed for all parties involved in a standard real estate transaction anytime, anywhere. RuufPay will be utilizing the Ethereum-based Home Coin as its primary settlement token throughout forthcoming developments. Users will be able to buy and sell properties, pay or collect rent on rental properties, and even pay their mortgage. Tenants, landlords, buyers, and sellers will all be able to utilize Home Coin to deal with real estate.
Since RuufPay abides by the motto of decentralization, the team felt it was best to design as fair a launch for Home Coin as possible. This was achieved by conducting a launch on the Uniswap platform with an initial liquidity offering and a locked liquidity pool. And as mentioned earlier, Home Coin will serve as the core payment token throughout the RuufPay Protocol and will be used to pay rent, utilities, and mortgage installments.
There are several advantages that the RuufPay protocol aims to introduce into the real estate market by incorporating blockchain. One of the main advantages would be lower costs. Because of how efficient blockchain is, transactions could be done with minimal fees and fewer intermediaries. Furthermore, transactions are all immediate and non-refundable, which helps protect all parties involved. Another significant advantage of incorporating blockchain is security. Open blockchains are maintained by a large network of participants that prevents users from submitting inaccurate data, recording fraudulent transactions, or improperly altering recorded information. Additionally, the decentralized ledger and its integrity are policed by network members who reject any user who attempts to alter previously recorded data.
Through the RuufPay Protocol specifically, users who use Home Coin as a means of payment will be awarded many additional utility perks through the various applications under development. Some of these perks include but are not limited to attractive staking rewards for validating transactions, actively contributing to protocol maintenance, applying PoS staking rewards towards rental payments a,nd receiving RuufPay Governance Tokens as a reward for community contributions.
Ultimately, as the RuufPay Protocol popularizes and scales to a larger array of geographic locations, we aim to popularize more transparent, fair, and efficient housing solutions across the globe through the use of blockchain and become an entity based on complete decentralization, bringing the newly embraced benefits of the digital economy and blockchain to the outdated real estate industry through Home Coin.
For more information, head over to the Twitter u/ruufpay or go to the website homecoin.info