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Propy Helps Blockchain Technology Get Vermont Government Approval

Avatar newsbtc 2 years ago

It’s Invest Diva’s  Kiana Danial with NewsBTC and here is your cryptocurrency update. The blockchain technology is expanding in interesting directions, and we have lesser-known crypto companies such as Propy to thank for it. The State of Vermont in the US has reportedly signed a bill into law to start supporting blockchain developments. With this new law, the blockchain technology must be reviewed as a method to securely record public ledgers such as land and real estate. This is a huge step for blockchain businesses in Vermont who can now freely operate there. Propy, the world’s pioneer in blockchain for real estate, is planning to back this legislation up by providing blockchain education and creating the first property deed in the US, according to its CEO, Natalia Karayaneva. Vermont’s Governor, Phil Scott who signed the law bill on August 28th, is hoping for it to “make government more efficient, cost-effective and ultimately saving Vermonters money”. According to the press release, Propy has recorded the first ever government-supported real estate deals in the US on the blockchain. So what is Propy anyway? The California-based company aims to solve the problems of purchasing property remotely and even across borders.  It raised $15 million in a sale of its PRO tokens last year and offers products including a Listing Platform, a blockchain Transaction Platform and a Blockchain Registry for land records. The essential steps to acquire real estate on the Propy Registry includes the execution of the Deed Contract and Title Contract. Despite its involvement with Vermont’s blockchain approval, its token PRO continues to consolidate near all-time-lows at around 0.35. It did have a massive, short-lived spike to 0.70 on August 18th though. Propy currently ranks 424 based on market capitalization, has a total supply of 100 million PRO tokens with above 19 million of it currently circulating. You can purchase Propy’s PRO token on exchanges such as Huobi, Bittrex, Liqui, and Upbit, versus cryptos such as Bitcoin, Ethereum, and Tether. What do you think about using the blockchain technology in the real estate industry? Would you trust companies such as Propy to handle your transactions remotely, and potentially save you money by removing third-parties like lawyers in the process? Let me know in the comments. Thanks for watching, invest responsibly, and I’ll see you with more updates next time.

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