The blockchain technology behind Bitcoin re-emerges, and South Burlington, Vermont, USA will try blockchain technology to record real estate transactions.
Vermont has always strongly supported the blockchain, hoping to drive the development of the technology industry and create jobs. South Burlington, Vermont, in partnership with Propy, a California blockchain property platform, will try out new technology to register property transfer records.
Propy CEO Natalia Karayaneva said that this pilot program will highlight the cost-saving advantages of the blockchain, and Vermont and South Burlington will create a more cost-effective administration.
At the trial stage, only some real estate transactions use blockchain records. At the same time, city officials will still use the tradition to record the same trade again. Propy Technology Chief Alex Voloshyn points out that when everyone finds that everything works smoothly, it will abandon the traditional way.
Propy also works with the Ukrainian government, and all future Ukrainian property transactions will be recorded in blockchain. Replacing the current system with blockchains can take years, even decades, and many obstacles must be overcome. If successful implementation will impact the industry, title insurance (TItle insurace) will be affected, and government officials may not work.
Medium previously reported that bitcoin is virtual currency and blockchain is the technology behind Bitcoin. Blockchains can store data, like "decentralized books," breaking up data and storing it on thousands of nodes in the network to avoid it. Traditionally, data has always been kept in the same place, such as private servers, the cloud, etc., and it is vulnerable to attacks. Well-known enterprises such as Uber, a car platform, and Equifax, a US credit rating company, have suffered from embarrassment. .
Jamie Smith, CEO of Blockchain Business Council, compared the differences. He said that the database is like a house, and the invasion is difficult, but not impossible. The blockchain splits the database into millions of small pieces scattered across thousands of computers. The hacker wants to launch an attack, not just breaking into a house, but breaking into all the houses in the community.
Liquid Crystal Display For Home Appliances
Liquid Crystal Display For Home Appliances,High Resolution Portable Lcd Display,Refrigerator Lcd Liquid Crystal Display,Response Fast Remote Lcd Monitor
Dongguan Yijia Optoelectronics Co., Ltd. , https://www.everbestlcdlcm.com