According to the press release of the real estate platform Propy, the company made the first ever property sale in the European Union powered on blockchain system.
The deal involved the sale of property based in Seville, Spain to French buyer. Both the Spanish seller and French buyer used cryptocurrency (ETH-ETH) to transfer property ownership via Propy's transaction platform.
Propy is a U.S. based blockchain platform for real estate which aim is to solve the problems of purchasing property remotely. Propy facilitates connections between the seller, buyer, realtor, title agent and/or notary to enable the seamless purchase of real estate online.
As it was reported earlier, the World's First Blockchain Property Auction was held in Rome which included the sell of the five-centuries-old mansion.
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