A property in London’s Mayfair has a price tag of £23m and is being sold via a system allowing interested parties to submit offers online using Blockchain technology.
The selling agency, Singer Vielle, says this is the first time what it describes as “a prime property investment” in Mayfair is being offered for sale this way.
Purchasers submitting offers via the Clicktopurchase platform generate legally-binding digitally-encrypted signatures on an electronic contract note.
Acceptance of an offer results in an instant legal contract execution and the entire transaction audit trail and contract are anchored in Blockchain.
Blockchain is a data and document recording system widely regarded as being tamper-proof, providing what the agent calls “an advanced level of security, trust and accountability unavailable elsewhere.”
The property - 111 to 113 Park Street, just south of Oxford Street - is being sold by a Swiss trust following. It has recently been used by Landmark Space, a provider of shared workspace.
You can see the property here.