AnnounceAnnounce, the Roman mansion Palazzetto will be auctioned on the Propy.com platform on June 28. Individuals or institutions can bid for the building through legal currency or cryptocurrency before June 28.

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Paris Hilton with her father Rick. Image: AP Photo/Matt Sayles

Luxury homes in this auctionPalazzettoyimage description

 Hilton & Hyland

The mansion was designed in the 16th century by the architectGiacomo Della Porta, he and Michelangelo were in the same era, and they had cooperated with each other in architectural design. The building, which is being auctioned on the blockchain and is a UNESCO World Heritage Site, is currently worth about $35 million.

The auction will be the most expensive real estate cryptocurrency transaction to date, which is also the highest value real estate transaction handled by Propy.

Propy.comis a distributed ownership registry that aims to create a unified real estate transaction and asset transfer platform for the global real estate industry. In 2017, Propy completed the first real estate sale transaction on the blockchain in Ukraine. In March, Propy facilitated the sale of a home in Burlington, Vermont, via the ethereum network, and later became the first U.S. government-approved blockchain public service company.

Blockchain technology can merge the complex process of traditional real estate transactions, providing each participant with a more transparent and secure transaction environment. Propy CEO Natalia Karayaneva stated,

Blockchain technology can automate real estate transactions, making homebuying more efficient, reducing fees, and giving homeowners a way to prove their title.

During the pre-sale of luxury houses, Rick Hilton analyzed that,

The auction shows real estate’s growing trust in blockchain, while the auction format also offers cryptocurrency investors an opportunity to diversify their assets and strengthen their portfolios.

Regarding the application of blockchain in the real estate field and the future development of the company, Propy CTO Alex Voloshyn once publicly stated,

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also,Blockchain technology is not only being used in the luxury real estate market, but developing countries are also looking to immutable registries to record disputed land titles.

I am Zhang Yi, a reporter from Odaily. I am exploring the real blockchain. For breaking news and communicating, please add WeChat ro20110723. Please note your name, unit, position and reason.

I am Zhang Yi, a reporter from Odaily. I am exploring the real blockchain. For breaking news and communicating, please add WeChat ro20110723. Please note your name, unit, position and reason.