First Ever! Real Estate Oracle

[GENERAL] Name and surname of main applicant

Eddy Carra

[GENERAL] Email address of main applicant

Eddycarra@wmsy.co

Additional applicants

John Rivera

Joseph Escobar

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

12

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

No

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

Yes

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.” .

Only one dependency is required.

This is securing a broker partner that operates in all 50 states to pull data from. This is already secured.

[GENERAL] Will your project’s output/s be fully open source?

Yes

[GENERAL] If NO, please describe which outputs are not going to be open source. If YES, please write “Project will be fully open source.”

Project will be fully open sourced.

[METADATA] Category of Proposal

Explorers

[IMPACT] Please describe your proposed solution.

Our solution is to build an oracle to transition the real estate industry to the blockchain. This would be handled in phases.

1. Create bridge between existing MLS data to backfill real estate history
2. Automate the listing process to continuously twin new entries to the blockchain
3. Create automated tools for tokenizing real estate & legal entity registration

[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

Bringing real estate and a method to continue onboarding real estate assets to the Cardano blockchain can establish Cardano as the easiest solution to begin the eventual digitization of physical assets. The most prominent being real estate. All other physical assets would be far easier to onboard after the fact.

The potential revenue and liquidity solutions like this would bring to the blockchain would be immense. Providing an easier onramp for businesses to build new businesses and adopt blockchain solutions to streamline the real estate acquisition process would revolutionize an old industry.

[IMPACT] How do you intend to measure the success of your project?

Success will be measured in tandem as we would also be the first customers of this oracle. I am also the founder of Whimsy. One of the first fractionalized real estate investment platforms built on Cardano. We are currently in testnet phase and will be headed to production very soon.

We would build into the oracle for data mining, analytics, and submitting data to the blockchain for our acquisitions, tenant rentals, property updates, legal and geolocation specific changes.

A major success goal is to disrupt the Title&Deed insurance business. No longer do you have to figure out who owns or posses the deed. We will manage that on the blockchain with a verifiable hash.

Being the first users will also prove there is validity to the oracle and can be promoted along side our existing business.

[IMPACT] Please describe your plans to share the outputs and results of your project?

We plan to share updates via social media, articles on our website, as well as twitter spaces and youtube videos as new innovations are completed as well as tutorials on how to use the new oracle.

As for the code and versions we will uses githubs built in version control and change log documentation to share the improvements being made.

[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?

My personal ability is based on my experience in the software industry. I have worked ay many large companies and have been a part of the building up into IPO. This is experience I have earned over the last 10 years of work history.

Building solutions that bridge between users & data sources has been were I spent most of my time.

Companies:

• Datadog
• Wayfair
• Bose Corp

[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?

The main goals of the project in its first phase will be to establish a connection to the reality MLS. This is used by brokers and realtors alike for listing properties for sale, but also researching historical data to understand go prices, what was sold and when, market value and so forth.

This approach will be measured by our Whimsy estates use case. We will leverage the oracle to not only search for data and access to MLS info, but also to submit no categories to the blockchain like wallet details that possess fractionalized real estate ownership.

Leveraging the oracle to fill out k1 tax forms while still keeping individual users anonymous in a kyc-less fashion.

The progress of development will be managed using an agile methodology to organize our development into epics and sprints. Tools such as Jira by Atlassian will work perfectly for this. Our meetings will be handled via weekly standups to make sure there are no blockers or needed resources. Then semi-weekly an overview meeting of what has been completed and where we are compared to where we should be will be held to see if plans need to change.

[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

1. Acquire team: we will be working with Plank to build this oracle
2. Establish business partnership with major brokerage and purchase access to MLS Api service
3. First round of planning will begin where we will organize the best methods and approach to build this oracle. This is also where we will break down the build into epics and stories
4. This will be in tandem to 3, but formally establish the foundation entity
5. Finalize the first major technical achievement: MLS data bridge
6. Complete first smart contract integration
7. Release sdk that can use blockfrost to interact with oracle
8. Launch documentation website with tutorials and copy&paste friendly example code
9. Continue to phase 2

[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.

Each miles stone is defined as a means to measure the progress of the project. The intended means is to have a digitized bridge to begin the transition of data to a more structured and openly available solution.

[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.

The capital is being used strictly for development and to stand up a Foundation for the development and management. The purpose for a foundation structure is to decentralize the service and business. Open sourcing something of this nature that is so competitive will bring a lot of legal action from existing competitors. Making this a headless organization where there isn't a single entity to attack will allow the future development and decisions to be decided on by the community.

1M ADA: Will be utilized for development. This is the brunt of the efforts for building something that has a much farther reach than MLS real estate data, but it should get us started as we innovate and build features that will generate additional revenue.

• Contracted per hour cost

250k ADA: Legal Fees for establishing our foundation, but also retainer costs to build out automation service for property entities

• Legal Filings & Representation
• Government Licensing & Registration
• Guidance

130k ADA: Business expenses such as hosted solutions, third-party vendors and physical devices

120k ADA: Website development. Informational, but also labs and tutorial spaces for educating future developers

The business use case will be all handled in ada as there will be dynamic ada prices based on current market valuations to complete transactions to the oracle. This ada will be transported to a treasure wallet that will be used by the foundation to pay bills and invest in future innovations.

[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The cost here is based on the what it would cost to acquire the real estate data & the research and development required to build a system that is fully self sustaining.

The value is clear. The blockchain the wins the battle for real estate will be the corner stone technology for the next 100 years.

Real estate data hasn't changed in over 100 years. It is still a very paper heavy industry. The transition to blockchain is the next logical step. Many projects and chains are attempting this now. I say Cardano needs to be the next to take a step forward to throw their name into the hat.

[IMPORTANT NOTE] The Applicant agreed to Fund10 rules and also that data in the Submission Form and other data provided by the project team during the course of the project will be publicly available.

I Accept