In Brief CPROP aims to eliminate the largest inefficiencies associated with residential real estate transactions by merging the transparency and trust enabled by blockchain technology with its proprietary plug-and-play workflow management platform. CPROP s platform is a back-end software integration to existing property portals that enables those portals to play a value-added role in the closing process. Potential benefits to CPROP s portal partners include enhanced advertising revenue, the creation of new non-advertising revenue opportunities, greater website stickiness and competitive differentiation. Property buyers will benefit from a user-friendly, intuitive interface that provides virtually everything needed to finalize their desired purchase. By introducing process automation, cryptocurrency payment optionality, smart contract escrows, blockchain-authenticated documents and tokenized titles, CPROP brings blockchain technology into the mainstream of global real estate while enhancing the integrity of the property closing process. Market Now Buying or selling a home especially in another state or country typically involves manual, unfamiliar processes. Tedious, repetitive paperwork and unexpected delays and fees are a painful part of the experience. Buyers of real estate assets often have no choice but to rely on untrusted third parties for local representation. Frustration and anxiety is the norm. The process of purchasing a property often begins with a buyer searching through a property portal. In a perpetual effort to grow revenue and market share, portals have sought to diversify their revenue streams and lessen their reliance on advertising by expanding across the value chain, for example, into data and valuation, insurance, building trades, mortgages, and insurance. Today, capturing the greatest possible value from web traffic by getting closer to the transaction is a cutting-edge concept in the portal industry. This is the opportunity on which CPROP will capitalize helping portals get closer to the transaction while leveraging blockchain technology to achieve an unprecedented level of trust and transparency in the home buying process. This is particularly valuable for long-distance transactions, where inefficient closing procedures can be especially detrimental to their success. CPROP Litepaper June 2018 2
Solution CPROP s solution consists of 3 components: Workflow management platform tailored for the local jurisdiction User-rated community of service providers Blockchain layer: Smart contract escrows Document authentication Deed tokenization Cryptocurrency payment optionality CPROP s workflow management platform will create transparency and shorten the closing process by enabling buyers, sellers, and their respective service providers (e.g. lawyers, inspectors, etc.) to engage directly with one another in a highly intuitive cloud environment. Buyers and sellers will have access to a community rating system, eliminating their reliance on service providers that may be untrustworthy. The blockchain layer will provide an additional level of security and payment optionality. There is a clear use case for this platform in the US where transactions are relatively complicated. In jurisdictions outside the US, the job of building a workflow management platform may be undertaken by our portal partners, either solely or in conjunction with CPROP. The same goes for our community of service providers, which is intended to solve the problem of having to rely on untrusted providers. In the US, all service providers are licensed, but that is not necessarily the case in other countries. Regardless of jurisdiction, there is a clear use case to apply the blockchain layer. Further, the blockchain layer affords CPROP the opportunity to establish proprietary blockchains with its partner portals. A public blockchain would hold data relating to the deed, thus positioning the portal and CPROP as the authority on deed tokenization in the relevant jurisdiction. This is also an optimal way to position portals for a future where government property registries transition to tokenized property records. A permission-based blockchain will be developed for all other documentation. This can precipitate recurring revenue streams for document retrieval. Where CPROP partners with foreign portals that cater to foreign buyers seeking US properties, CPROP s workflow management platform will help facilitate those transactions and allow foreign buyers to effortlessly and safely purchase real estate in the US. One significant partnership is under active discussion in this regard. This scenario is represented in the co-branding example illustrated in Figure 1, where an embedded CPROP widget on the foreign portal affords prospective buyers the option to have the portal assist them in acquiring their desired property. CPROP Litepaper June 2018 3
Figure 1. Platform Demo: Homepage showing integration with a foreign property portal for a US property acquisition CPROP also plans to partner with foreign portals catering to buyers located outside their country (e.g. UK buyers seeking property on a Thai portal). In these instances, CPROP s primary service is anticipated to be to deliver the blockchain layer. It is worth noting that the above product approach is easily applicable within any country s domestic market to facilitate long-distance transactions, e.g. from New York to San Francisco. The CPROP platform will allow owners of real estate brokerages from different parts of the US to enhance their multi-state business. CPROP Litepaper June 2018 4
CPROP Backstory Building on co-founder Adam Koehler s prior success as a co-founder of Dotloop (sold to Zillow in 2015), which automated real estate purchase agreements, CPROP extends the automation process through to the closing table. CPROP will leverage its team members experience in the field and connections to major world players such as Zillow and JLL, the second largest property management firm in the world, where co-founders Sandy Selman and Luke Sestito developed and rolled out technology solutions to make the business more compelling and profitable. The industry reception to CPROP s solution has been very positive. Active discussions with major portals in Asia, Europe and North America have validated our business strategy, product design, and partnering strategy. CPROP s integration provides a way for portals to increase their revenue opportunities without adversely impacting their existing business and ecosystem. CPROP boasts an experienced, proven leadership team, a huge addressable market with multiple pathways to revenue, a validated business model and go-to-market strategy, industry partnerships in the making, and a partially functional platform demo. CPROP represents the first scalable adoption of blockchain technology in the mainstream residential transactional real estate sector. CPROP Value Proposition Solution addresses real-world pain points in an enormous global industry with multiple pathways to revenue. Go-to-market strategy designed around partnering with property portals that leverages their existing web traffic and listings to rapidly achieve market traction and scale. Practical, commercially valuable blockchain applications sit at the center of CPROP s solution and add security, trust, and transparency to transactions without bogging down the closing process with new workflows or adding significant cost. A sustainable, closed-loop, tokenized ecosystem which uses a membership model to drive market adoption and revenue, reinforced by the use of tokens to incentivize buyers and sellers for their participation. Flexible business model that works with virtually any property portal in the world. Experienced, proven leadership and development teams. Business model validated by multiple active partnering discussions. Completed product demo, roadmap dedicated to a functional MVP in immediate future. CPROP Litepaper June 2018 5
Additional Products Under Development Luke Sestito and Sandy Selman, co-founders of CPROP, have a great deal of experience developing technology products for commercial real estate industry giant JLL. CPROP plans to harness their expertise to develop a groundbreaking solution for the commercial market that leverages blockchain technology to make important information associated with a commercial property more accessible to buyers. Similar to the popular US-based product Carfax, which provides prospective buyers of used cars with complete vehicle histories, CPROP s proposed solution aims to capture data and information that currently resides in disparate systems into a single highly accessible, secure and economically viable data architecture. This product is being designed to address an industry pain point that often arises when large commercial properties are put up for sale in a competitive tender. In these instances, the bidding process is time-constrained and bidders are afforded a limited opportunity to perform due diligence. By having blockchain-authenticated documents with information sought by bidders readily available, sellers can eliminate much of the risk in the process and pave the way for higher bids. A demonstration of this data architecture on a government-owned building in Cincinnati is in the planning stages. Anticipated Token Sale Details Total Token Supply 6,133,333,333 Number of Tokens for Sale 4,600,000,000 Maximum Distributed in Pre-Sale 4,200,000,000 Team 920,000,000 Advisors 306,666,667 Bounties/Airdrop 306,666,667 Anticipated Minimum Tokens Reserved For ICO 400,000,000 Private Pre-Sale Bonus Up to 25%, depending on contribution amount ICO Price $0.01 Hard Cap $20 million Soft Cap (threshold met) $2 million Min/Max Contribution (public sale) 0.1 ETH / 2000 ETH Private Pre-Sale Starts June 1, 2018 ICO Dates September 30 - October 31, 2018 CPROP Litepaper June 2018 6
Roadmap APRIL MAY JUNE 1st Portal MOU Signed 2nd Portal MOU Signed Whisper IP Fund Announces Support Whitepaper V 4.2 Complete Asia Marketing Trip to Visit Portals Launch Korea Community Building Porta #1 Kick-Off Meeing 3rd portal MOU Signed Launch Private Investor Events in Asia Beyond the near-term milestones indicated above, our longer term plan includes the following target milestones: Q4 2018 Q2 2019 Q42019 Q2 2020 Commence beta testing wtih portal #2 Secure first large consulting contract Second commercial launch Begin connecting portal databases Secure MOU #4 with first Latin Latin American portal Commence beta testing wtih portal #1 Q3 2018 Commence beta testing wtih portal #3 Q1 2019 First commercial launch Scale platform with US parrtnerships Fully functional platform, operating on a number of partner portals Q3 2019 Q1 2020 Q3 2020 CPROP Litepaper March 2018 7
Who We Are CPROP Litepaper June 2018 8