On February 20th, real estate marketplace Propy completed the first real estate transaction using blockchain in the United States.
Gravel & Shea attorneys have been working with Propy to develop a pilot program in Vermont for almost a year, identifying an appropriate location and property for the transaction as well as performing the necessary legal due diligence for sale and purchase of real estate.
Financial blog Zerohedge reported on the sale, calling South Burlington a “global blockchain leader.” The transaction lays the groundwork for other states to do the same, and several are planning to follow Vermont’s lead in the coming months.
Gravel & Shea’s Blockchain Technology group specializes in analyzing and resolving legal issues related to blockchain technology.
