# Blockchain-based Real Estate Transactions

> Propy uses blockchain technology and AI automation to digitize and simplify international real estate transactions. The company has processed over $4 billion in digital real estate transactions since 2017. The developed AI escrow officer Agent Avery reduces workload by 40% and automates about 70% of manual tasks performed by traditional escrow officers.

**Sector:** Tertiary sector · **Industry:** Real estate agencies · **Organisation:** Propy, Inc. · **Maturity level:** Production

Canonical URL: https://www.sapientblock.com/en/use-cases/propy-immobilien-weltweit-digital-kaufen

## Documentation status

- **Project status:** Production
- **Evidence:** Evidence medium
- **Editorial review:** Ufuk Avci, 15 April 2026

## Description

Propy was founded in 2015 by Natalia Karayaneva and Alex Voloshyn. In 2017, the world’s first legal real estate purchase on the blockchain was conducted on the Propy platform: an apartment in Kyiv, Ukraine, was fully digitally transferred via the Ethereum blockchain. Today, Propy offers full digitalisation of the real estate purchase process: offers, negotiations, due diligence, contract signing, payment processing, ownership transfer.

Traditional real estate transactions are paper-based, location-bound and take 30-90 days. Propy digitalises every step: buyers and sellers create accounts, offers are submitted and accepted digitally, contracts are signed with eSignatures, payments in crypto or fiat are made via the platform, ownership transfer is documented on the blockchain. The 2017 purchase in Ukraine was a breakthrough: a US citizen bought a Ukrainian apartment fully remotely via the blockchain, legally valid under Ukrainian law. Propy also conducted the first US-based blockchain real estate transactions (Vermont, 2018). Recent developments: AI Escrow Officer — an AI agent takes over traditional tasks of an escrow officer (document review, deadline management, communication between parties). 100 million USD expansion facility for further growth.

## Benefits

- Companies can process more transactions per year through reduced manual steps and automated workflows.
- Real estate buyers benefit from faster transaction times and reduced costs through automated processes.
- Workload is reduced by 40% through AI-supported automation of escrow processes.
- Manual tasks are automated by up to 70%, leading to significant efficiency gains.
- Over 4 billion dollars in digital real estate transactions have already been successfully processed.
- Employees are freed from repetitive tasks and can focus on value-adding advisory activities.

## Challenges

- Companies must meet regulatory compliance requirements and train employees in new technologies.
- The American title and escrow industry is fragmented across almost 7,000 companies and traditionally resists digitalisation.
- Manual and fragmented workflows lead to high transaction costs of up to 10% of the property value.
- Employees must adapt to AI-supported workflows and develop new technical skills.

## Technology foundation

Propy uses smart contracts on the blockchain to automatically and securely process real estate transactions. The blockchain acts as an immutable database for ownership transfers and ensures transparency and verifiability of all transaction steps.

## Sources

- [CNBC: How startup Propy is deploying $100 million to put real estate deals on the blockchain (Mai 2026)](https://www.cnbc.com/2026/05/07/startup-propy-real-estate-deals-blockchain.html)
- [Crunchbase: Propy Inc. – Firmenprofil, Gründer und Finanzierung](https://www.crunchbase.com/organization/propy)