First U.S. house sold on blockchain marks new beginning

Mar 15, 2018, 7:22 AM EDT
The idea lets one buy or sell real estate assets, anywhere, completely online.
(Source: tcbe.ch ICT Cluster Bern/flickr)

The idea of letting one buy or sell real estate assets, anywhere, completely online just became a reality with Katherine Purcell selling her home in Vermont via a blockchain platform in the first transaction of its nature in the U.S.

As part of a pilot program in the city of South Burlington, Vermont, a real estate platform, named Propy, records immutable blockchain records of each step in a transaction making the entire process much more secure than traditional methods of real estate trade, notes Futurism.

This transaction could potentially convince government offices to try blockchain and even prompt other industries to follow the suit.

TAGS: Blockchain
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