Japanese House Builder Utilizing Blockchain to Simplify Rental Contracts

In Japan, one of many largest dwelling builders is making preparations for its contracts on sure rental houses to go on the blockchain.

In keeping with an announcement posted to the company’s website on June 8, Sekisui Home stated that it might use blockchain for rental housing contracts, together with protecting electrical energy and fuel. The measures might be carried out earlier than March 2021.

Customers staying in “Shamaison” rental houses will be capable of register their telephone numbers and addresses to enter the property with out ever contacting a real estate agent. Current expertise makes it doable for Sekisui Home purchasers to open and shut doorways with simply their smartphones.

Shifting in the direction of one-stop leases

House builders in different nations have been pushing property rental contracts to be registered on the blockchain. Cointelegraph reported in June 2019 that regulators in Malta had been requiring contracts be registered on a blockchain to guard them from tampering and guarantee approved entry. 

In July 2019, Japanese blockchain firm bitFlyer Blockchain announced they had partnered with the Sumitomo Company to launch an actual property enterprise powered by sensible contracts on its in-house Miyabi blockchain.

Sekisui Home began constructing an actual property data administration system utilizing blockchain in collaboration with KDDI and Hitachi in 2017. The corporate is a member of Nexchain, a consortium of firms sharing data together with that on blockchain expertise.

Hisashi Oki of Cointelegraph Japan contributed to this text.

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