National legal news outlet Law360 recently spoke with Gravel & Shea Special Counsel David Thelander about the firm’s part in creating the first blockchain real estate transaction in the United States.
Thelander, who practices from both Vermont and San Francisco—where he can remain well connected with tech companies—began working with Propy almost a year ago. The real estate marketplace and title registry company hired Gravel & Shea to help create a blockchain real estate pilot program in Vermont.
Much of the work, Thelander said, involved helping local officials understand the benefits of a decentralized ledger. They focused on identifying real estate clerks with an “innovative spirit” and found them in South Burlington, Vermont.
In addition to helping get the pilot program off the ground, Gravel & Shea provided the standard real estate services for the transfer of the South Burlington condo, giving the documentation to Propy to enter into the blockchain system. As a former U.S. SEC lawyer, Thelander also assists the company with regulatory matters.
Read more about the blockchain transaction here.