First real estate transaction on Blockchain : What is next?

Vermont has started to use the Blockchain technology to register real estate transactions and other states will join this measurement soon. The South Burlington city from Vermont U.S.A. has just become the global leader of the Blockchain technology when it comes to real estate. The transaction has been made on October 2017 and has utilized the Ethereum distributed ledger.

The CEO of Propy, the company that is based on selling and buying properties has stated that this is just the beginning and this Blockchain transaction is a pathfinder for what will come next. The future plans for this company are to sell in Ukraine, California and Dubai using PRO coins. PRO is the digital coins issued by the Propy company. Another representative from the company said that if the first step has been made, it will be easier for the remaining 49 states to follow. He added that Arizona and Colorado are the next on their list.

This is not a surprise if we think about it, because distribute ledger is ideal for real estate transactions because the volume is small and the value is big. For example, if we want to sell candy on the Blockchain, it wouldn’t be profitable because Blockchain is not scalling. There is absolute no change when it comes to the future of cryptocurrency, because at one point there will only be virtual coins, even if issued by governments.

However, hundreds of companies will disappear from the market or won’t continue the way we know them now because this is the world we live in and adaptation and evolution must be the first two words companies guide after. If you think about the insurance system, companies that have lasted for so much time now, because they never turn their backs to new possibilities and innovations that come to the market.