Propy, a global real estate platform, announced the execution of its second blockchain-recorded property deal in California. Propy’s first property transaction, 10 acres of land in Southern California, which was purchased entirely with bitcoin. The transaction was verifiable on distributed ledger technology, allowing all parties involved to have an entirely holistic view of the complicated process at all stages.
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A Blockchain is a growing list of records, called blocks, which are linked using cryptography. Cryptography is the practice and study of techniques for secure communication in the presence of third party adversaries. Cryptocurrency is a digital currency that uses encryption (cryptography) to regulate the generation of currency and verify the transfer of funds, independently of a central bank.
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