Blockchain startup Coadjute announced the launch of Coadjute Network, a distributed ledger technology (DLT) network that enables businesses operating in real estate to share data about a property sale. The first deal on the platform was the sale of a house in Kent.
The housing market involves a series of parties, from estate agents, legal firms, and mortgage brokers to lenders. During a typical four-month process between agreeing on a house sale and completing the transaction, there are numerous phone calls and emails between all the parties. It’s a frustrating process for all, not least the house seller.
As with most blockchain applications, Coadjute aims to create a shared source of information. It performs two core functions, including sharing documents such as the sale contract and enabling communication. Each house sale has a deal room, similar to a WhatsApp group where the participants can interact.
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