Last week, UK-based property blockchain firm Coadjute announced the close of a multi-million pound investment. The funding round was led by Switzerland-based Blockchain Valley Ventures, with participating investors including Ahimsa-Esya Capital, Odysseus Investment, and R3 CEO David E. Rutter, in his personal capacity.
Coadjute leverages R3’s Corda Enterprise, offering an open network to connect businesses that participate in property transactions such as lawyers, estate agents and banks. Those involved in the process, the buyers, sellers, and professionals, can use the platform to manage alerts and events in real-time, as well as safely and securely communicate and share confidential information.
Businesses are able to use Coadjute’s network through their own systems. It has also integrated its solution with many of the existing UK property platforms such as dezrez, Reapit, MRI, Redbrick and VTUK. Coajute predicts that with blockchain, property transaction times can be reduced from three months to three weeks.
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