Italian Estate to be presented at Blockchain Auction

Real mansion brokerage which is located in Beverly Hills, Hilton&Hyland started  cooperation with blockchain startup Propy to auction a house built in 1580-1616
28 May 2018   878

As the source reported, the Palazzetto inside the Palazzo Albertoni Spinola is appriciated to be a Unesco heritage area. The architect Giacomo Della Porta constructed it in the early 1600s. The property is presently valued at $42 million. Because of the partnership with Propy now interested parties not only can ask the cost on the property in fiat currencies but also in cryptocurrencies. The bids are to be received until June 28, as claimed by Propy CEO, Natalia Karayaneva.

Karayaneva affirmed that the auction is offered to be a unique possibility to record the sale of a historic construction on a blockchain technology. Real property applications of blockchan were aware to be still in early stages.

It is not a transfer test of a couple dollars-worth of value, or questionable digital collectibles - but a multi-million dollar deal where lack of transparency can result in a significantly worse deal for the investor or seller. 
Natalia Karayaneva,
CEO, Propy

The CEO also declared that she hopes to see more real estate deals based on blockchain in the future. Karayaneva pointed out the significance of the security and the reputation behind the technology that can convince buyers about not risking their funds. 

The process of buying real estate today is non-transparent and non-secure even in the U.S. The bidding mechanism of providing offers blindly is very manipulative. This is why it is important to not only automate payment and title deed recordings, but also to automate the auction and offering mechanisms.
Natalia Karayaneva,
CEO, Propy

Blockchain technology provides the opportunity to make the process of purchasing buildings more operative. As the property transactions are automated, the appropriate fees are decreased; and so the homeowners can prove their property rights.

Bank of China to Issue $2.8B Blockchain Bonds

Bank used its own DLT system to issue blockchain bonds
09 December 2019   68

The fourth largest state bank, the Bank of China, has issued two-year blockchain bonds for small businesses totaling $ 2.8 billion.

To issue digital certificates, Bank of China used its own blockchain system.

It is also the first blockchain-based bond issue accounting system in the country.

Bank of China

Securities will go on sale with an interest rate of 3.25% per annum.

Thus, the bank hopes to raise funds to support small businesses in the country. As of September, as part of this initiative, the bank provided loans to small and micro enterprises for a total of $ 57.7 billion.