Yesterday New World Development Company (NWD)
announced a blockchain platform which it developed in collaboration with Hong Kong Applied Science and Technology Research Institute (ASTRI). The Hong Kong arm of state-owned Bank of China (BOCHK) is the first bank to participate. The network will launch in the second quarter of 2019.
“Traditionally, buyers, real estate developers, banks and law firms all work separately – until now, there has been no one-stop platform to connect all parties,” said Adrian Cheng, Vice-chairman and General Manager of NWD.
Ann Kung, Deputy Chief Executive of BOCHK, commented that the project “helps to enhance customer experience by offering a seamless integration of mortgage services in our customers’ property purchase journey.”
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