Today, EJ Insight
reported that Hong Kong property agency Centaline has completed a blockchain-based real estate platform with Microsoft and TFI Blockchain Technology. The platform, integrated with Centaline’s existing app, allows for immutably stored and digitally signed documents.
Centaline is one of Hong Kong’s largest real estate agencies with more than 60,000 employees and 2,000 branches across Hong Kong and China. Earlier this year the firm
partnered with Microsoft. The project uses Microsoft’s Azure to host its blockchain solution and claims that 30% of its property sales now have the paperwork digitized using blockchain. In some regions the figure is as high as 40%.
There are currently two nodes, one controlled by Centaline and the other operated by TFI. But there are plans to add legal firms and banks early next year to handle verified documents.
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