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Propy | Ethereum | Blockchain RE

30 Jul Propy | Ethereum | Blockchain RE

Posted at 22:50h in Ethereum News by

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Propy records country’s first blockchain-only real estate deal just north of LA County

The Bitcoin transaction for 10 acres of land outside LA involved a buyer in NY

Propy founder Natalia Karayaneva (Credit: Twitter and AboutMyTrip dotCom via Flickr)

The country’s first blockchain-only real estate trade involved 10 acres of land just north of Los Angeles County.

The sale was made through a platform developed by Palo Alto-based real estate startup Propy. The company’s platform records the information of the sale — the purchase agreement, payments, and other essentials — on the public Ethereum blockchain. The amount was unknown.

An unnamed New York-based buyer paid a California seller in Bitcoin for the 10 acres of land in Kern County, about 130 miles north of Los Angeles. Details of the sale were recorded both on the blockchain and with traditional government registries.

While cryptocurrencies including Bitcoin

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