Compared to a few years ago, the number of people using cryptocurrency to pay for real estate has increased by 240%, and the integration between Web3 and real estate is becoming increasingly tight. On November 7th to 8th, 2024, the blockchain real estate platform Propy held the Propy Web3 & Property Rights Summit at the Miami Beach Convention Center, aiming to explore how Web3 technology is rapidly developing in the real estate sector with industry leaders.

Propy is a global real estate innovation service platform that simplifies and accelerates real estate transactions (including bidding and payment), as well as property rights records and transfer processes, using AI and blockchain technology. Propy also provides real estate agency services authenticated by Crypto Assets, allowing users to handle all transactions from electronic signatures to payments in an easy-to-use solution with their suite. Propy's end-to-end solution makes buying, selling, and transferring real estate faster and more secure, changing the traditional real estate industry by enhancing transparency and automation, enabling anyone to use Crypto Assets for property transactions anywhere.

The Propy Web3& Real Estate Summit attracted founders from institutions such as SkyBridge Capital, Draper Associates, Coindesk, Milken Institute, as well as US senators and real estate investors. These economic, technological, and political leaders shared insights on the US real estate market and trends, space resources and property rights, as well as the opportunities and challenges for the cryptocurrency industry after the US election. They also discussed how technology, digital assets, and property rights are reshaping the economy and even geopolitics. The related content is as follows:

New Perspectives on BTC Reserves and Ownership

US Senator Cynthia Lummis reiterated the need for the US to lead the adoption of Web3 at this meeting and proposed the establishment of a BTC reserve. She said, 'We can start with the 200,000 BTC [approximately $14.5 billion] that the US already holds and use it as a safeguard against economic instability.' Cynthia Lummis' vision is closely related to a broader movement towards Decentralized Finance (DeFi) and property rights, aiming to promote the creation of a new on-chain economy.

CoinFund and Commodity Futures Trading Commission advisor Chris Perkins, as well as Anthony Scaramucci of SkyBridge Capital, reiterated their commitment to bipartisan cooperation to connect Wall Street, institutional financing, and the global Capital Market in support of tokenization-driven economies.

Web3 Vision: A World Without War

Economist and property rights advocate Hernando de Soto proposed a powerful concept at the conference: achieving a war-free world through on-chain secure property rights. He envisions this based on the idea of clearly defined, widely accessible property rights (including land and mineral resources) to prevent disputes between nations over valuable resources, thereby reducing conflicts. The system proposed by Hernando de Soto will utilize the Block chain to ensure clear ownership and rights that are universally accepted and not easily manipulated, laying a stable foundation for long-term peace.

Space Resources and Property Rights

Delian Asparouhov (Founders Fund, Varda) shared his optimistic attitude towards the recent US election, and envisioned a future government that supports space and cryptocurrency, which can ensure the safety and rights of countries and space citizens. Delian Asparouhov discusses in a forward-thinking way how to extend property rights to include resources mined from space, ensuring that these resources are kept for the people and not controlled by any one country or driven by a national economy. Those who are deeply involved in this field will determine the rules of the future.01928374656574839201

Miami will become a new technology center

The mayor of Miami, Francis Suarez, Delian Asparouhov, and other spokespersons emphasized the emerging tech competition between Miami and San Francisco as tech hubs and cities. While Silicon Valley has long been the center of innovation, under the leadership of Francis Suarez, Miami has positioned itself as a hub for real estate, encryption innovation, and a free economy. Francis Suarez stated that he regularly tracks the crypto market and personally uses Bitcoin to purchase real estate, therefore, he will continue to support this technology.

Bright Future of Real Estate and Privatization

Former acting chairman of the U.S. Securities and Exchange Commission (SEC) and Propy advisor Mike Piwowar discussed potential changes in property rights and financing, specifically mentioning the privatization of Fannie Mae and Freddie Mac being discussed by U.S. regulators. Piwowar believes that blockchain can support an efficient, citizen-centric mortgage market and facilitate labor mobility as home buying becomes more automated and affordable.

Blockchain and Artificial Intelligence: The Frontier of American Innovation

Senator Cynthia Lummis also discussed the intersection of blockchain and artificial intelligence (AI), pointing out that these two areas are the recent focus of legislative work in the United States. She added, "The U.S. Congress has no right to legislate out of fear of topics they do not understand." In addition, several summit participants, including Propy advisor Michael Casey, have expressed the view that some people see artificial intelligence as a new threat to property rights, but if Decentralization is in place, this situation will not occur.

Summary: The Road Ahead

Whether it is through the creation of a US BTC reserve, putting real estate and mineral rights on the chain, private space property rights, or the privatization of major Financial Institutions, industry leaders gathered in Miami at the Propy Web3& Real Estate Summit expressed a unified vision: we need an economy and world empowered by innovation, and more importantly, a commitment to prosperity and peace.

Participants of Propy Web3& Real Estate Summit, as well as industry leaders in the technology and economic sectors, are working together to establish a world of true property rights Decentralization, where everyone has autonomous control.