A series of Bitcoin and Blockchain firsts have occurred around the world in real estate this year as the cyrptocurrency has taken a major foothold in the mainstream property market.
The proposed sale of a US home on the Blockchain is both a first for cryptocurrency, and a dream come true for some lucky Green Bay Packers American Football fan who buys the three-bedroom property that sits adjacent to the teams home ground, Lambeau Field.
The so-called “Packer House” being sold on the Blockchain – the digital, public ledger that can record transactions using cryptographic security – has an asking price of $1 million (£740k) and is considered a crytpo landmark for the fledgling currency and exchange market.
The house is currently owned by former Facebook executive and Green Bay native Chris Murphy.
Earlier this year, a $60,000 (£44k) flat in Kiev, Ukraine, became the world’s first property to be sold using a blockchain. Michael Arrington, founder of tech news site TechCrunch, used real estate start-up Propy to help him snap up the home without setting foot in the country.
Here in the UK, Property developer Go Homes announced the sale of the country’s first two luxury homes using the bitcoin currency; one of which was a four-bedroom detached £350,000 family house in Colchester purchased by a Bitcoin miner who made a killing on the cryptocurrency and is now converting it into bricks and mortar.
In September, London property developer The Collective became the first firm to allow its tenants to pay their deposits and in bitcoin.
The Government’s Land Registry has for the first time agreed to allow buyers have sale prices recorded in a cryptocurrency.
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