I love the idea of buying property anywhere in the world free from a middle man like agents, money transfer exchanges like SWIFT, land registry, local laws, sales tax, etc. It would mean significant savings in fees.
HOWEVER. It also means we need to convert one fiat (paper) to another fiat (crypto).
The sales pitch on the Propy website:
Propy aims to solve the problems facing international real estate transactions by creating a novel unified property store and asset transfer platform for the global real estate industry. Initially the Propy Registry will mirror official land registry records in which transfers of real estate are recorded.
Ukraine is planning to sell property to international buyers on Propy.
As long as it's truely decentralised free from government or bank's control this alternative makes sense, but what are the pros and cons of buying and selling real estate on a App?
Please share your comments.
