Propy, a global real estate store with a decentralized title registry announced the execution of the first comprehensive blockchain-recorded property deal in California. The Bitcoin-to-Bitcoin sale of 10 acres of land in Southern California was processed via Propy's Transaction Platform. The property deal in California is the first complete transaction fully-executed on the Propy Transaction Platform, where every step was initiated by smart contracts and respectively recorded on the blockchain registry. The transaction was anchored and verifiable on distributed ledger technology which gives complete security to the deal. Transactions executed on the Propy Transaction Platform are legally binding, provide additional proof of ownership, and safeguard the transfer of ownership via traditional legal instruments.
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