Tokenance, a blockchain and AI software developer, has partnered with YurekAI, an AI-powered real estate platform to revolutionise property transactions.
The new platform, RE-TWIN, enables the creation of digital twins, which are defined as comprehensive representations of physical properties.
Fulvio Magni and Diego De Maio, CEOs at Tokenance and YurekAI, explain that the development of RE-TWIN enables the real estate industry to catch up with the progressions of the digital ecosystem.
“The integration of Tokenance and YurekAI technologies creates a new and comprehensive, 360-degree, real estate offering to the public, enhancing the industry’s digital landscape,” both said.
In collaboration with the Cardano Foundation, both parties recognised a number of current industry issues, such as risks of data breaches, exposure to fraudulent transactions, and limited transparency.
By leveraging blockchain and AI, platforms such as RE-TWIN can simplify user experience by managing blockchain transaction fees and digital twin storage automatically.
Digital twins, secured on the Cardano blockchain, store crucial information such as architectural designs, floor plans historical records, creating a new degree of transaction transparency.
After uploading property details to YurekAI using the RE-TWIN feature, the platform generates a digital twin following authorisation. The twin is then encrypted and recorded onto the Cardano blockchain, and users receive a secure and immutable record of the property.
“We are ready to take this proposition global, as users and real estate agencies based anywhere can now trade securely and transparently,” added both Magni and De Maio.
