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Innovative Company Licenses Its Real Estate Blockchain Technology
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The firm's platform will help the licensee maximize property technology, or proptech, opportunities.

RESAAS Services Inc. (RSS:TSX.V;RSASF:OTCQB) announced in a news release it signed an agreement to license its cloud-based blockchain technology for the real estate industry to the LEGACY Council of Canada, a real estate investment advisory firm that "empowers investors worldwide through digital academia and education, creating access to service providers inside the realm of real estate, finance and intergenerational estate planning."

"'LEGACY's approach to providing service is grounded by AI (artificial intelligence) and driven by new technologies developed by RESAAS," the company noted.

The term outlined in the agreement is for five years. Once RESAAS finishes $200,000 worth of customizations for the LEGACY Council, the council will begin paying a monthly subscription licensing fee.

"The value we provide our members will be tremendous, as the basis for the technology is built from RESAAS' award-winning technology platform that already has an enterprise value of approximately $25m," Jean-Guy Francouer, chief growth officer at LEGACY Council of Canada, said in the release. "By extending it for our own specific needs, we will have a best-in-class solution for our members."

"Since forming a relationship with REIN in the spring of 2018 and then LEGACY Council of Canada in early 2019, we have uncovered areas within the proptech sector that are primed for innovation," said RESAAS CEO Tom Rossiter. "LEGACY's commitment to their thousands of members, and providing them with never-before-seen technology through new investment in the RESAAS technology platform, will position them for unprecedented growth in 2019."


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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