Service dApps

Traditional real estate transactions that occur off-chain require intermediaries. Buying, selling, mortgaging and other actions all require multiple intermediaries, each of which is a specialist in its respective niche.

In tokenized real estate transactions, these intermediaries are replaced by trustless Local Agents. These Local Agents are “holders of powers”, empowered to act on behalf of on-chain asset holders for “in real life” affairs.

Local Agents are instrumental in that they connect NFT ownership with real ownership as established by local laws. As property law evolves to include provisions for the tokenization of real estate, the role of Local Agents may become diminished through automation and standardization. However, it is unlikely that this will occur in the foreseeable future.

The typical architecture of a Plano dApp or Service

Most of the service legos provided by Plano are dApps that provide a standardized service layer atop an underlying real world legal service.

Plano automates the work of Local Agents who possess specific authorities to execute specific real work actions on the platform. The real world actions are typically processes and workflows that are unique and appropriate to that jurisdiction. Despite the variation, however, a single specific service or dApp can be created to standardize and automate the activities of these Local Agents.

In order to maintain the security and quality of the services provided by Plano, each Local Agent that elects to contribute their services on the platform must certify their qualifications and capacities, prior to contribution. Permissioners, a set of experts engaged by Plano to issue Authority Badges, will oversee this process.