Blockchain and Crypto Find Role in Italian, S Korean Property Industry

Blockchain South Korea

Author

Tim Alper

Author

Tim Alper

About Author

Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...

Author Profile

Share

Copied

Last updated: 

June 26, 2023

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

Developments are coming thick and fast in the worlds of real estate, blockchain technology and cryptocurrency.

Real estate venture Propy, which trades properties in cryptocurrencies on a blockchain-powered platform, has listed an historic Renaissance-era Roman mansion on its database. The mansion is called Piazza di Campitelli, and was designed by Giacomo della Porta (1532–1602), the architect who built the Cupola in the Vatican’s St Peter’s Basilica.

The building is listed as a heritage site by the Italian government, and should the sale be completed in cryptocurrency, it would mark the first time such an historic site has been traded using Bitcoin or altcoins.

Propy says it will conduct an auction on June 28, and will accept bids in cryptocurrency or USD. Per Quartz, the mansion’s reserve price is USD 44 million, which is around 7,000 BTC.

Meanwhile, in Asia, South Korean constructor Dongsuh ITS has signed a deal with a blockchain firm that will allow it to manage apartment residents’ personal data on what it claims is a hack-proof blockchain platform.

Per media outlet eToday, Dongsuh’s deal will allow it to manage information for 2 million residents of its Dongsuh Lake apartments. Data includes residents’ names, cell phone numbers, utility bill information and vehicle registration numbers. The builder will make use of the DB Coin blockchain platform, which its developers claim is tamper-proof.