aOne of the biggest challengesfor real estate owners and operators is finding and retainingquality vendors. It's a long and timely process. You put out anRFP, and wait. You review the bids; conduct research on the vendor,hire them and hope that the company's work is good, so that youdon't have to go back to point A. YINC—a new appcompany—promises to end the vendor-related headaches. The softwarehas streamlined the process of finding and hiring vendors,promising a competitive bid process to lock-in the best possiblepricing, trustworthy reviews and an easy pay system all usingblockchain technology. The program is launching its start-up thisweek, with the functional program slated to rollout by the end ofthe year, and GlobeSt.com has gotten an exclusive first look.

“We started by creating a solution for the vendor market. Thethree main issues were locating a vendor, competition and reviews,”Jonathan Handler, CEO and founder of YINC, tellsGlobeSt.com. “There is no competition searching online, and reviewsaren't trustworthy. When we came up with a process that works, wewent back to our investors and went back to another round of VCfunding, they recommended that we use the app for their properties.That is where we switched gears from consumer to commercial realestate. It is the same core system.”

Handler has a background in both real estate and technology, andsees the program as a way to infuse efficiencies into real estaterather than disrupt the market. “The technology is not groundbreaking technology and it doesn't reinvent the wheel. We solvedseveral issues within the process,” he says. “In real estate, it isall about ROI, but it is also about mitigating headaches. You mayhave a headache if the vendor doesn't do a job well. Now, with theblockchain and the trust factor coming in, we are going to startbidding out jobs to vendors for the first time. Saving money iskey, but if you can't trust what you see online, it isn't worth it.We are giving owners the ability with the review system to trustthe vendors.”