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💥Ripple announces partnership with ProprHome: the real estate revolution💥
November 08, 2022
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Ripple, a leader in blockchain and crypto solutions, has announced a new partnership with ProprHome, a blockchain-enabled real estate marketplace, to create a renewed way to buy, sell and rent property.

The partnership, which will leverage XRP Ledger, the open source layer 1 blockchain, through an NFT utility, will provide faster, more reliable and energy-efficient transactions and improve the buying experience for potential buyers.

Specifically, Ripple, PropHome and XRP Ledger share common characteristics and purpose: efficiency, speed and transparency. Indeed, the goal of the partnership is to revolutionize the level of engagement in the typically tedious process of buying, selling and renting homes. Ripple and PropHome: here’s what to know

Ripple has announced the partnership with ProprHome, and the latter explains what the differences will be and what will change from now on. As already anticipated, PropHome is a blockchain-enabled real estate marketplace that wants to further revamp the way people buy, sell and rent property in Portugal.

All this through an NFT utility that will be minted on the fast and energy-efficient blockchain for asset tokenization, XRP Ledger.

Specifically, the speed and reliability of XRP Ledger to facilitate real estate NFTs will further simplify the way real estate clients communicate with their agents, schedule visits, make offers, and more.

Most importantly, from the moment the collaboration is active, clients will gain control over the offer and acceptance process in a real estate transaction.

With the competitive market in Portugal, an agent’s professionalism in providing the best customer experience should be a deciding factor. The merit-based system of ProprHome aims to solve this problem by providing a deeper insight to clients seeking the most suitable professionals.

In fact, through ProprHome’s NFT utility and through its partnership with Ripple, the blockchain-enabled marketplace will offer different types of tokens. First and foremost, utility tokens for digital property certificates (DOCs).

DOCs are issued when renting or buying a property using ProprHome.

Customers will receive a DOC token that they can use to prove the right of use for a particular property, thus bypassing the time-consuming and cumbersome onboarding verification and approval process.

ProprHome’s plan for this area of the business will seek to further enable these tokens to improve control and management of the various steps in the process. DOC tokens will also offer home buyers the ability to connect to various services, including utilities such as electricity, water, broadband, telecommunications, and home entertainment.

Next, reputation tokens: the ProprHome platform will have its own native token, Propr (PRP), a “reputation currency” that agents, developers and owners can earn and exchange for additional exposure.

PRP tokens will be used to incentivize a positive real estate experience by rewarding participants on the platform with tokens for good practices, such as competitive pricing. They will also effectively attract customer interest to maximize the home search experience. Why is ProprHome relying on blockchain technology?

Generally, the offer stage can be a difficult and stressful process for all parties involved in a purchase. To solve this problem, ProprHome turned to blockchain technology, such as XRP Ledger, to add transparency, trusted offers, and trust between customers and the industry, thus strengthening the transaction process.

By publicly recording all bids on XRP Ledger, ProprHome is able to provide transparent and immutable data to all parties and ensure a fairer and more productive bidding experience.

In addition, ProprHome has taken care to educate its users about the new technologies being used: blockchain, NFTs, and Ripple. In fact, it created the “Customer Education-ProprHome” project.

The latter is designed to educate and enable customers to make more informed decisions through rich, functional, community-generated content. In fact, ProprHome aims to guide the user through mini-lessons before minting an NFT.

Community benefits will also be associated with this NFT and will serve as a valuable qualifying stamp to further enrich the quality of lead provided by the platform.

John McCoy, CEO of ProprHome, following the announcement of the partnership with Ripple said:

“ProprHome and our partner Ripple share the same vision of the tokenization of assets with functional utility. We see the potential of an online real estate market that leverages blockchain technology to dramatically improve real estate interactions.

We have trusted in the reliability of XRP Ledger for over ten years to serve as our preferred blockchain for its tokenization and settlement capabilities.”

Ripple supporting sustainability: the green currency

Prior to its collaboration with PropHome, Ripple had already distinguished itself by its actions with respect to the environmental sustainability. In fact, the cryptocurrency, operating on an open source network, is also referred to as “the green currency” because of its energy efficiency. Commonly Ripple is described as an alternative currency because of the energy it harnesses.

This is because its XRP token is one of a growing number of digital coins that uses much less energy in validating transactions, compared to Bitcoin for example.

XRP transactions are also confirmed in seconds at a low cost compared to Bitcoin, which can take many minutes with high transaction costs. The XRP token can be described as a green currency because of how it was designed with sustainability in mind.

In fact, according to Ripple’s website, XRP is about 57,000 times more energy efficient than BTC. Unlike other blockchains that use Proof-of-Work, XRP Ledger confirms transactions through a unique consensus mechanism and aims to become carbon neutral in the coming years.

Through the Ripple Protocol Consensus Algorithm (RPCA), at least 80% of the network’s global validators must approve a transaction before it is added to the XRP ledger.

Over the years, Ripple has always distinguished itself from other cryptocurrencies by its innovative technology. The company calls itself a payment solution provider because of its main focus on using cryptocurrency to enable cross-border payments.

In addition to the XRP token, which solves the environmental problem by being energy efficient, it solves cross-border problems through its RippleNet network. Ripple and the goal on sustainability of the planet by 2030

Already last year, Ripple had given way to talk about sustainability. In fact, it had added its voice to the ongoing cryptocurrency sustainability pool with the announcement that it aims to achieve zero carbon emissions by 2030. It has also collaborated with various sustainability leaders to achieve that goal.

In the tweet on 15 May, Ripple (XPR) described a number of aspects of its environmental strategy. This included a list of their partners, which already includes the Bill & Melinda Gates Foundation, Mercy Corps, Mojaloop Foundation, and the Institute for Business and Social Impact among them.

Overall, Ripple has non-governmental organization (NGO) partners in more than eighty countries. Now, sustainability leaders such as the Renewable Energy Buyers Alliance (REBA), the Energy Web Foundation, and Watershed have joined their ranks.

In addition, Ripple had also raised its concerns about the unbanked, stating:

“Our current global financial system does not meet the needs of 1.7 billion bankless people. Digital assets and distributed ledger technology (DLT) have the potential to transform the way populations without banks and sub-banks access basic financial services and send and receive money across borders, making it more accessible, convenient and secure.”

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Musk Turns On Starlink to Save Iranians from Regime’s Internet Crackdown

Elon Musk, the world’s richest man and a visionary behind SpaceX, has flipped the switch on Starlink, delivering internet to Iranians amid a brutal regime crackdown.

This move comes on the heels of Israeli strikes targeting Iran’s nuclear facilities, as the Islamic Republic cuts off online access.

The former Department of Government Efficiency chief activated Starlink satellite internet service for Iranians on Saturday following the Islamic Republic's decision to impose nationwide internet restrictions.

As the Jerusalem Post reports, that the Islamic Republic’s Communications Ministry announced the move, stating, "In view of the special conditions of the country, temporary restrictions have been imposed on the country’s internet."

This action followed a series of Israeli attacks on Iranian targets.

Starlink, a SpaceX-developed satellite constellation, provides high-speed internet to regions with limited connectivity, such as remote areas or conflict zones.

Elizabeth MacDonald, a Fox News contributor, highlighted its impact, noting, "Elon Musk turning on Starlink for Iran in 2022 was a game changer. Starlink connects directly to SpaceX satellites, bypassing Iran’s ground infrastructure. That means even during government-imposed shutdowns or censorship, users can still get online, and reportedly more than 100,000 inside Iran are doing that."

During the 2022 "Woman, Life, Freedom" protests, Starlink enabled Iranians to communicate and share footage globally despite network blackouts," she added.

MacDonald also mentioned ongoing tests of "direct-to-cell" capabilities, which could allow smartphone connections without a dish, potentially expanding access and supporting free expression and protest coordination.

Musk confirmed the activation, noting on Saturday, "The beams are on."

This follows the regime’s internet shutdowns, which were triggered by Israeli military actions.

Adding to the tension, Israeli Prime Minister Benjamin Netanyahu addressed the Iranian people on Friday, urging resistance against the regime.

"Israel's fight is not against the Iranian people. Our fight is against the murderous Islamic regime that oppresses and impoverishes you,” he said.

Meanwhile, Reza Pahlavi, the exiled son of Iran’s last monarch, called on military and security forces to abandon the regime, accusing Supreme Leader Ayatollah Ali Khamenei in a Persian-language social media post of forcing Iranians into an unwanted war.

Starlink has been a beacon in other crises. Beyond Iran, Musk has leveraged Starlink to assist people during natural disasters and conflicts.

In the wake of hurricanes and earthquakes, Starlink has provided critical internet access to affected communities, enabling emergency communications and coordination.

Similarly, during the Ukraine-Russia conflict, Musk activated Starlink to support Ukrainian forces and civilians, ensuring they could maintain contact and access vital information under dire circumstances.

The genius entrepreneur, is throwing a lifeline to the oppressed in Iran, and the libs can’t stand it.

Conservative talk show host Mark Levin praised Musk’s action, reposting a message stating that Starlink would "reconnect the Iranian people with the internet and put the final nail in the coffin of the Iranian regime."

"God bless you, Elon. The Starlink beams are on in Iran!" Levin wrote.

Musk, who recently stepped down from leading the DOGE in the Trump administration, has apologized to President Trump for past criticisms, including his stance on the One Big Beautiful Bill.

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GENIUS Act lets State banks conduct some business nationwide. Regulators object

The Senate passed the GENIUS Act for stablecoins last week, but significant work remains before it becomes law. The House has a different bill, the STABLE Act, with notable differences that must be reconciled. State banking regulators have raised strong objections to a provision in the GENIUS Act that would allow state banks to operate nationwide without authorization from host states or a federal regulator.

The controversial clause permits a state bank with a regulated stablecoin subsidiary to provide money transmitter and custodial services in any other state. While host states can impose consumer protection laws, they cannot require the usual authorization and oversight typically needed for out-of-state banking operations.

The Conference of State Bank Supervisors welcomed some changes in the GENIUS Act but remains adamantly opposed to this particular provision. In a statement, CSBS said:

“Critical changes must be made during House consideration of the legislation to prevent unintended consequences and further mitigate financial stability risks. CSBS remains concerned with the dramatic and unsupported expansion of the authority of uninsured banks to conduct money transmission or custody activities nationwide without the approval or oversight of host state supervisors (Sec. 16(d)).”

The National Conference of State Legislatures expressed similar concerns in early June, stating:

“We urge you to oppose Section 16(d) and support state authority to regulate financial services in a manner that reflects local conditions, priorities and risk tolerances. Preserving the dual banking system and respecting state autonomy is essential to the safety, soundness and diversity of our nation’s financial sector.”

Evolution of nationwide authorization

Section 16 addresses several issues beyond stablecoins, including preventing a recurrence of the SEC’s SAB 121, which forced crypto assets held in custody onto balance sheets. However, the nationwide authorization subsection was added after the legislation cleared the Senate Banking Committee, with two significant modifications since then.

Originally, the provision applied only to special bank charters like Wyoming’s Special Purpose Depository Institutions or Connecticut’s Innovation Banks. Examples include crypto-focused Custodia Bank and crypto exchange Kraken in Wyoming, plus traditional finance player Fnality US in Connecticut. Recently the scope was expanded to cover most state chartered banks with stablecoin subsidiaries, possibly due to concerns about competitive advantages.

Simultaneously, the clause was substantially tightened. The initial version allowed state chartered banks to provide money transmission and custody services nationwide for any type of asset, which would include cryptocurrencies. Now these activities can only be conducted by the stablecoin subsidiary, and while Section 16(d) doesn’t explicitly limit services to stablecoins, the GENIUS Act currently restricts issuers to stablecoin related activities.

However, the House STABLE Act takes a more permissive approach, allowing regulators to decide which non-stablecoin activities are permitted. If the House version prevails in reconciliation, it could result in a significant expansion of allowed nationwide banking activities beyond stablecoins.

Is it that bad?

As originally drafted, the clause seemed overly permissive.

The amended clause makes sense for stablecoin issuers. They want to have a single regulator and be able to provide the stablecoin services throughout the United States. But it also leans into the perception outside of crypto that this is just another form of regulatory arbitrage.

The controversy over Section 16(d) reflects concerns about creating a regulatory gap that allows banks to operate interstate without the oversight typically required from either federal or state authorities. As the two Congressional chambers work toward reconciliation, lawmakers must decide whether stablecoin legislation should include provisions that effectively reduce traditional banking oversight requirements.

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If you find value in my content, consider showing your support via:

💳 PayPal: 
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Dubai regulator VARA classifies RWA issuance as licensed activity
Virtual Asset Regulatory Authority (VARA) leads global regulatory framework - makes RWA issuance licensed activity in Dubai.

Real-world assets (RWAs) issuance is now licensed activity in Dubai.

~ Actual law.
~ Not a legal gray zone.
~ Not a whitepaper fantasy.

RWA issuance and listing on secondary markets is defined under binding crypto regulation.

It’s execution by Dubai.

Irina Heaver explained:

“RWA issuance is no longer theoretical. It’s now a regulatory reality.”

VARA defined:

- RWAs are classified as Asset-Referenced Virtual Assets (ARVAs)

- Secondary market trading is permitted under VARA license

- Issuers need capital, audits, and legal disclosures

- Regulated broker-dealers and exchanges can now onboard and trade them

This closes the gap that killed STOs in 2018.

No more tokenization without venues.
No more assets without liquidity.

UAE is doing what Switzerland, Singapore, and Europe still haven’t:

Creating enforceable frameworks for RWA tokenization that actually work.

Matthew White, CEO of VARA, said it perfectly:

“Tokenization will redefine global finance in 2025.”

He’s not exaggerating.

$500B+ market predicted next year.

And the UAE just gave it legal rails.

~Real estate.
~Private credit.
~Shariah-compliant products.

Everything is in play.

This is how you turn hype into infrastructure.

What Dubai is doing now is 3 years ahead of everyone else.

Founders, investors, ecosystem builders:

You want to build real-world assets onchain.

Don’t waste another year waiting for clarity.

Come to Dubai.

It’s already here.

 

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If you find value in my content, consider showing your support via:

💳 PayPal: 
1) Simply scan the QR code below 📲
2) or visit https://www.paypal.me/thedinarian

🔗 Crypto – Support via Coinbase Wallet to: [email protected]

Or Buy me a coffee: https://buymeacoffee.com/thedinarian

Your generosity keeps this mission alive, for all! Namasté 🙏 Crypto Michael ⚡  The Dinarian

 

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