Look how fast things happen!!
Just about a month or so ago, many agents where laughing about Bitcoin, blockchain, and other cryptocurrencies, talking about how people won’t use it to buy real estate. Hmmm…
Where did this transaction happen?
In Burlington, Vermont.
The first property to be sold this way in the United States.
It was sold entirely through the blockchain. Completely.
Ethereum was the token used. This puts Vermont on the map.
Propy is a company in San Francisco. Propy handled the entire transaction including recording of the documents and contracts instead of using the city system.
Vermont is the first state to allow this kind of transaction and soon coming up are Colorado and Arizona.
The encryption technology in blockchain is the best available at this time.
This transaction used cryptocurrency for the purchase and it was then turned into the fiat money on the other end.
The first Bitcoin to Bitcoin transaction in the United States was when Michael Komaransky sold his Miami mansion for 455 Bitcoin which was the most expensive Bitcoin real estate transaction to date.
While most people will still not do a cryptocurrency real estate transaction, it is here, and it will be here to stay.
The different tokens will fail and others will rise. Ethereum is very stable. Blockchain is here to stay and evolve.