Adaption: sale of real estate in Japan, and Ethereum-a Blockchain handled
Home News adaptation: real estate sale in Japan on Ethereum-a Blockchain handled
Marcel Knobloch –
Smart Contracts can be used in practice, for a variety of different use cases. A Fin-Tech Startup out of Japan recently announced that real estate on your platform sold with the help of the Ethereum Blockchain, and the property relations were regulated.
Propylene, a property management company, announced a few days ago that two of the properties were carried out transactions on the Ethereum Blockchain and stored. The offers were the first of this kind in the Asian region. In the case of Residential real estate is real estate in the district of St. Moritz, Niseko, Japan. The investors come from Hong Kong and are also enthusiastic about technology. The transaction was settled on the “Transy platform” of Propylene. This Plattrom offers opportunities for cross-border comparisons, since all stakeholders, including buyers, sellers, reps, and lawyers, are able to communicate via Smart Contracts in a reliable and secure everything.
The two properties were purchased with Japanese Yen, the settlement of Propylene can be in a variety of digital Assets such as Bitcoin and Ethereum. Propylene is considered to be very safe and unique because it stores immutable property rights in a decentralized title registry and the existing Code according to protect. No pieces of paper, since everything is stored in a tamper-proof property urkaunde data Bank. Paul Butkvich, sales and operations Manager of Hokkaido Tracks Real Estate, has recognized the opportunities and the potential of the Blockchain technology and want to expand the use of his business (freely translated):
As I was familiar with Propylene, it was quickly clear to me that my sales team was able to implement the communication with buyers, sellers and lawyers to a user-friendly Online platform. The ability to send contracts sure to sign and value, is a significant advantage, the Propylene compared to the normal real estate sales process ownership.
Natalia Karayaneva, CEO of Propylene, also describes that it is the Mission of his company is to simplify the purchase of a property and to optimize all the processes with the help of the new transaction platform and the Blockchain and innovate (freely translated):
We are of the opinion that these two deals are the first of many, as the next Generation of real estate transactions developed around the world.
Featured Image: CKA | Shutterstock