A startup with Russian roots signs EU’s first blockchain property deal

A San Francisco-based startup, Propy, founded by Russian immigrant Natalia Karanyaeva, has powered Europe’s first real estate deal on blockchain. Previously, the project secured the first property transaction of $10 as a part of a pilot program in the state of Vermont in the USA.

The EU’s first property sale on blockchain took place in Seville, Spain, in early October. Both parties used the cryptocurrency, Ether, to transfer ownership via Propy’s transaction platform.

The French buyer, Sébastien, and Spanish seller Miguel Prados Rodriguez met online on a web source for crypto enthusiasts. They both wanted to use crypto to secure the deal and decided to look for a solution.