ShelterZoom Corp, a real estate platform driven by blockchain, has recently announced a new deal, contract, and transaction management platform. Mithra was created to be a blockchain-enabled platform that performs smart contract execution for its users.
Mithra uses distributed ledger technology, better known as a blockchain, to enable participants to code contracts that legally hold property and money for the purpose of transactions, including for real estate, commodities, trade and many other legal contracts.
Using blockchain technology, ShelterZoom said, Mithra will deliver greater transparency, security and profitability to users by making use of the company’s tokenized smart contract platform to automate the legal exchange of property and other financial transactions.
Dmitry Goroshevsky, ShelterZoom’s Chief Architect, said Mithra represents an evolution in paper and even smart contracts. It breaks down the contracts themselves into basic terms, which can be encoded. They can then be written into the immutable ledger of the blockchain and executed automatically when contract conditions are met.
“Mithra Contract not only contains all the benefits and functionality of smart and Ricardian contracts, but goes a level further by turning legal contracts of all types into cryptographic tokens,” said Goroshevsky. “Doing so enables on- and off-chain transferring, trading, auctioning, tracking and execution of legal contracts. None of this was possible before.”
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