Oli Harris, former head of digital asset strategy at JPMorgan Chase, played a key role in incorporating blockchain technology into traditional banking operations. With over a decade of experience at institutions like Goldman Sachs and blockchain firm Blockdaemon, Harris is now launching Arda, a startup aimed at digitizing real estate transactions through blockchain.
Arda has secured $3 million in pre-seed funding from Lightshift Capital. Harris envisions the company as an operating system for real estate, simplifying transactions by digitizing property-related data and storing it on a blockchain. The platform aims to enhance efficiency in renting and purchasing, particularly in high-cost regions.
Rather than addressing challenges like mortgages, escrow, or inspections directly, Arda focuses on aggregating and securing real estate data. Harris compares the platform to systems like CARFAX or credit scores, offering buyers, sellers, and financiers instant access to a verified, immutable record. This approach is expected to streamline due diligence and reduce operational risks.
Arda plans to generate revenue by charging a flat fee for accessing property data and transaction fees for updating and processing real estate records.
The company enters a competitive space where firms such as Atlant, Etherland, and Propy have also sought to integrate blockchain into property management.
With the initial funding, Arda will develop a product prototype, expand its engineering team, and establish partnerships with real estate developers and industry players. Harris aims to build the foundational infrastructure that allows real estate transactions to function at the speed of the internet.
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By Proptechbuzz
By Ravi Kumar
