Second Century Ventures (SCV), the National Association of REALTORSÂ® (NAR) venture capital fund, has become a strategic investor in Trust Stamp, an identity authentication company that leverages artificial intelligence and blockchain technologies to analyze public records and social data, SCV recently announced.
â€śSecond Century Ventures aims to develop and deliver technologies to innovate the real estate industry and help realty professionals to best serve buyers, sellers and clients,â€ť says NAR President William E. Brown. â€śInvesting in a fast, convenient and affordable tool like Trust Stamp to establish the identity and trustworthiness of a stranger will better help REALTORSÂ® stay safe and protect clients and their home or property.â€ť
Trust Stamp has created a real estate-specific webpage and mobile apps that are available only to NAR members and accessible via their NRDS number. Using the webpage or app, agents enter an individualâ€™s email address or cell phone number and invite them to make a Trust Stamp. It takes only a few minutes for an individual to create a basic profile with a photo of his or her driverâ€™s license, a selfie and links to one or more social accounts. Agents receive notification when the Trust Stamp is complete, along with the individualâ€™s verified name, photo and trustworthiness score.
Trust Stamp, founded in 2015 by Gareth Genner and Andrew Gowasack, is one of eight companies thatÂ entered SCVâ€™s vertical tech accelerator program, REachÂ®, earlier this year.
â€śWhile our technology is in demand in many industries, REach offered us a unique opportunity to work directly with industry professionals to design a product that precisely matched he needs of real estate professionals,â€ť says Gowasack, CEO of Trust Stamp. â€śAs a result of that iterative discovery process, there is an overwhelming demand for Trust Stamp amongst the REALTORÂ® community and we estimate that over half a million REALTORSÂ® will have installed the Trust Stamp application within 12 months of launch.â€ť
â€śMostÂ real estate professionals are juggling multiple business and client priorities and nearlyÂ always on the go; this makes an easy-to-use online and mobile toolâ€”thatâ€™s also powerfulâ€”ideal to improve their business and personal safety,â€ť says Dale Stinton, SCV president and NAR CEO. â€śInvesting further in Trust Stamp, from a REach accelerator company to now a member of our strategic investments portfolio, demonstrates how much Trust Stamp has impressed us and how well we think the tool will do in the real estate industry and beyond.â€ť
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