A 17th century Italian mansion is auctioned at a blockchain.
A 17th century Italian mansion is auctioned at a blockchain.

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Friday, Beverly Hills real estate agent announced Hilton & Hyland is working with the block propylene block auction at the Palazzetto Palazzo Albertoni Spinola, built 1580-1616 mansion.

Unesco’s heritage was designed by architect Giacomo Della Porta in the early 17th century and is currently estimated at $ 42 million. Interested parties can bid in Fiat or cryptocurrencies until June 28, said Propy’s CEO, Natalia Karayaneva.

Karayaneva told CoinDesk that she thinks the auction is a unique opportunity to record the sale of a historic building on a blockchain, which is remarkable given the fact that blockchain real estate applications are still in an early stage.

She added:

“This is not a transfer test worth a few dollars or questionable digital collectibles, but a multi-million dollar deal where lack of transparency can lead to much worse business for the investor or seller.

In the future, she hopes more real estate deals will be posted on blockchains, noting that security and the immutable record behind technology can reassure buyers that they will not risk their money. She also believes that blockchain technology can make the building acquisition process more efficient by automating real estate transactions, reducing fees and allowing property owners to prove ownership.

“The real estate buying process is opaque and uncertain in the United States. The folding mechanism to offer blind offers is very manipulative. It is therefore important to automate not only securities and securities, but also to automate bidding mechanisms and offers “Karayaneva said.

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