New Vermont Blockchain Legislation And How It Affects The Future Of Real Estate

With more and more governments seeing the benefits of Blockchain technology, Vermont was one of the first to legislate it on May 30th with the S.269 Bill. With the help of Propy CEO Natalia Karayaneva, the public was educated on the importance of the creation of the first property deed in Vermont through Blockchain technology. The bill effectively accepts our smart contracts as proof of ownership for real estate. Propy’s Blockchain technology for real estate is currently being implemented in Burlington and following the legislation more small towns in Vermont will be part of the next pilot program.

Watch part of the statements below:
https://www.facebook.com/propyinc/videos/478861922579905

Propy’s CEO Natalia Karayaneva emphasized:

“Through the pilot program, Vermont has demonstrated that blockchain companies have the full support of its state and local governments.”

Our goal is to save people valuable time and money in purchasing real estate. Instead of signing mountains of documents, one can complete a purchase with a few clicks using our smart contracts while being in the comfort of one’s home.

As summarized by Vermont’s Governor Phil Scott:

“This new legislation holds the promise of making government more efficient, cost-effective and ultimately saving Vermonters money.”

Click here for the Full version of Act 205

More information on BBLLCs can be found in Subchapters § 4171 — § 4174.
More information on the blockchain technology in public records you can find in Sec. 8. PUBLIC RECORDS.