Solana recently added a new protocol to enable users to trade real estate
The bear market has always been the period of building in crypto space.
It is the period when different people tends to provide real-world use case of the blockchain technology
While governments such as the United Kingdom are working on CBBCs, users of the existing blockchain are solving real-world problems.
One of the solutions that is being provided using the blockchain is the protocol that was launched on the solana network.
Solana has confirmed that a new protocol call Parcl just launched on its network.
About Parcl
Parcl is a real estate derivative protocol. It is a blockchain-based real estate platform that allows users to invest in digital square foot of physical real estate.
The major aim of Parcl is to give access to one of the world’s most desired investment classes.
Apart from the access, Parcl protocol is a DeFi investment platform that allows users to trade the price movement of real estate markets around the world.
Just like every other market, prices in the real estate market move up and down depending on the demand.
Benefit of the new Solana protocol
Parcl, the new protocol on Solana network allows derivatives traders to trade derivatives tracking the real estate market.
Also, the new protocol introduces the possibility of fractional purchases of real estate.
In addition to that users will be able to execute leveraged long and short positions on the estate.
Parcl is another demonstration of how blockchain technology can simplify the work processes and improve accessibility.
Blockchain technology also provides an all-inclusive financial system.
Will this be the last development?
Definitely No. This will not be the last development nor will it be the last solution to be built on blockchain.
While the crypto market maintains an inconclusive move, we will see the launch of more Solutions being built on the blockchain technology.
About Kumo
Kumo, registered as Kumo Technologies Inc in Delaware, U.S. is a fiat and crypto social payment app which allows users to exchange fiat (NGN) to crypto, save and earn interest in dollar with as low as $5, utility payment such as DSTV subscription, airtime, data among others.
Kumo wallet is your all-in-one social payment app for seamless payment solutions.
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