New York realtors looking to avoid hiccups in their commission payouts can now turn to blockchain-based smart contracts. The first real estate commission split was brokered earlier this summer in Manhattan’s ritzy SoHo neighborhood by New York-based Bapple Realty.Enabled through data uploaded onto the Zap platform, the seller divvied up a $3,400 commission — paid in Ethereum tokens — to pay the brokerage and the agents involved in the transaction.Bapple itself is no stranger to blockchain technology and the use of cryptocurrencies. In 2014, the firm agreed to an $18,000 rent and commissions payment with bitcoin. With the current deal, the infusion of blockchain technology within the real estate industry becomes more solidified. A primary requirement in implementing the blockchain-based transaction included the input of oracles: real world information uploaded into a decentralized application. This is where Zap, founded by Nick Spanos, comes into the picture. Zap.org, a product of the Synapse Foundation, uses an Ethereum-based ERC 20 token (ZAP) to power its oracle marketplace for smart contracts.  The opportunity to expand blockchain technology further into the real estate industry this summer came about as a Zap client and a Nordic Blockchain Association board member was looking to find a Manhattan-area apartment. At the time, Zap was conducting beta testing of its Android app for smart contracts. “We ... For Further Information Click on Below Button