Blockchain tech records First Japan Real Estate Deal
Property Technology (PropTech) firm Propy, has just announced the completion of two real estate deals in Japan, which were recorded on a blockchain. According to Propy’s press release, these agreements were the first of their kind in the Asia-Pacific region.
The properties are both residential lots in the popular St Moritz area of Niesko, Japan, and were purchased by Hong Kong based-investors leveraging the Propyblockchain network. Propy’s Transaction Platform is aimed at facilitating cross-border transactions with secure communication channels between buyers, sellers, and agents, allowing contractual agreements to be completed remotely.
The company seeks to streamline all real estate transactions by implementing blockchain tech wherever possible, and hopes that the two deals will set a precedent for future real estate transactions.
“We are actively signing up forward-thinking international real estate firms to increase the volume on our Transaction Platform,” said Propy CEO Natalia Karayaneva. “These two deals are what we feel are the first of many, as the next-generation of property transactions evolve around the world.”