A transaction for the purchase of real estate through the blockchain has been recently completed in southern Burlington, participating in the Vermont State program of collaboration with the world blockchain site Propy Inc.
According to information from the financial blog ZeroHedge, an anonymous source from Propy said that this transaction was the first fully successful cryptocurrency transaction for the purchase of real estate in the US.
Currently, South Burlington, Dubai and Kiev cooperate with Propy. The first announced that they have been using the experimental program Propy since January of this year and are testing the registration of documents for real estate through blockchain. Ukraine also shared information that their partnership has been in force since the August of 2017 and implies the provision of real estate for foreign buyers.
The total market capitalization of Propy is approximately $17.7 million, and the cost of one platform token is just over one dollar.
There are several other companies in the world, besides Propy, engaged in the sale of real estate. One of these projects, based on blockchain, suggests to tokenize the real estate market in London; and in general cryptographic technologies are used to make transactions with real estate in many cities around the world.