Government partnership with ICO project: Propy to work with Ukraine’s Agency for E-Governance
A new legislation is expected from 1 January that allows foreign investors to purchase land in Ukraine. That creates the opportunity for the foreigner investors to dive into Ukraine’s agricultural resources. The program is led by Propy with the support and coordinated by Ukraine’s Agency for E-Governance. The program will be put in motion throughout next year.
Oleksandr Ryzhenko, head of the State Agency for e-Governance of Ukraine, said:
“Adopting blockchain’s transformational technology will benefit all counterparties in real estate transactions through fostering greater transparency, efficiencies, security, and compliance.”
In 2014 and 2015 Ukraine’s real estate prices suffered a huge punch. The prices went down almost 70 percent below their 2008 market peak. With a GDP increase of 2.3 percent last year, real estate investors are aiming towards Ukraine’s market, which shows potential one again. With Propy’s smart contracts to track and execute real estate transactions according to regional regulations, the officials are trying to establish a comprehensive Blockchain ecosystem.
Oleksandr Ryzhenko continued in a press release issued today:
“The real estate sector forms an important part of our overall Blockchain strategy,”
This big step put’s Ukraine in the spotlight as an important figure in the future of the Blockchain world.
“Ukraine’s recent commitment to build a Blockchain-based internal government database with Bitfury was a great first step,” said Propy CEO Natalia Karayaneva
“[…] While this clearly benefits the Ukrainian real estate market, it also allows foreign investors to purchase enticing properties in a very low price range, all with the benefits and security that Propy provides.”
What about PROPY?
Propy aims to facilitate the connections between international entities and also to enable the purchase of international real estate online. It’s the first international real estate marketplace that targets the problem of purchasing property across borders.
Propy’s PRO token will be required for interaction with the Propy Registry, specifically when users change ownership of a title or register a new title.
The Silicon Valley based company is advised by the founder of TechCrunch, Michael Arrington, Alain Pinel, Apple’s Daniel Kottke and Bessemer Venture Partners’ David Cowan. For more details about PROPY visit our ICO-Agenda.