Burlington, the largest city of the U.S. state of Vermont, is testing a technology of the blockchain for the system of registration of title to land.
In particular Clerk»s Office has partnered with the blockchain startup Propy and the law firm Gravel&Shea, which focuses on the legal aspects of the use of the blockchain.
The purpose of the pilot is to develop more effective and safer accounting for real estate transactions, as well as to assess how the blockchain platform will reduce the cost of storing data of Department of land resources compared to traditional systems.
According to member companies of the Donna Civile, the city is interested in using technologies that enhance the delivery of services to its residents.
Vermont has already initiated several blockchain initiatives. The bill proposes regulation of cryptocurrency companies, one of them. If approved, these companies will pay a tax of one cent per dollar on each transaction, perfect company.