A photo illustration of the digital Cryptocurrency, Ethereum. (Photo Illustration by Yu Chun Christopher Wong/S3studio/Getty Images)2018 S3studio

Last week, the AnnA Villa in Paris made history by becoming the first ever European property to be sold entirely via blockchain transaction.

The luxury building, located in the city’s Boulogne-Billancourt district, was valued at €6.5 million, and was sold to French real estate companies, Sapeb Immobilier and Valorcim. The process involved first transferring ownership of the building to a joint-stock company (SAPEB AnnA), then dividing the company into 100 tokens to be distributed to the owners respectively. Each token can be further broken down into 100,000 units, meaning individual shares of the building can be bought and sold for as little as €6.50. Read more by clicking here: FORBES

Donate to BACK2THEFRESH.ME Global News in order to keep it going.