Blockchain instead of paperwork: Hong Kong get real estate Blockchain

Hong Kong belongs to the Chinese people's Republic, but it is a special administrative zone. Thus, Hong Kong has a special Status. What this means politically, we are witnessing in daily headlines about the protests of the citizens against the Oppression. But also in the field of crypto-currencies and Blockchain Hong Kong shows much patrons is worse than the Chinese mainland.

By Alexandra cons
5. November 2019BTC $ 8,742.54 0.43%part Facebook Twitter LinkedIn xing mail

Hong Kong is now to get a real estate platform on Blockchain-based. The Hong Kong real estate Agency cents Aline, Microsoft, and TFI Blockchain Technology have been working on this project and in the existing cents Aline App integrated. In terms of real estate transactions, the immutable storage and the digital signature of documents, on this platform is now possible. Since cents Aline has in Hong Kong, according to its own information of 60,000 employees and 2,000 branch offices, they offer numerous possibilities of application.

Hong Kong: Blockchain instead of paperwork

The real estate project is based on the use of Microsoft Azure to Host the Blockchain solution. Meanwhile, penny Aline to let in some regions already up to 40 percent of the property sales made via this platform. At the present time there are two of cents Aline-controlled Nodes. In the course of the next year, law firms and banks are to be added. Also, these institutions should have access to the audited documents in order to make the process of real estate transactions more efficient. Especially the re-sale of real estate in Hong Kong with a lot of documents.

In an article from 1. November of EJ Insight comes Tomy Pang, CEO of cents Aline Data Technology, to word:

customers looking for an efficient and quick way to sign complicated paperwork. The Transfer of paper documents is time - and labour-consuming, and it can be differences in prices and object information due to errors in the manuscript.

Global real estate purchase, time efficient

The App allows interested parties, buyers and other participants, to the purchase or sale of real estate in a matter of seconds to handle. In addition, the digitized documents are protected against Manipulation. Also, the international real estate trading should be easier, says Pang:

We have clients all over the world, including those domiciled in Canada, want to buy real estate in Hong Kong. Thanks to the Blockchain, you no longer have to fly to Hong Kong to sign documents, but can do so now safely on their mobile phones.

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the company has also open up for the employees of an ACE in the Sleeve. A reward system that employees and agents should be kept on the Blockchain-technology approach. The reward system could encourage the employees to realize the forms in the mobile App instead of classic paper.

More:

Singapore's Central Bank and J. P. Morgan are testing Blockchain Transfers, Why PR and Marketing in the Blockchain sector miss often their purpose – An Interview with Soren March, MRG Communications Why Blockchain applications rarely come out of the pilot phase,#Blockchain#real estate#Tokenization