The announcement comes at a moment when interest in blockchain technology continues to grow in the real estate industry
As one of Japan’s largest construction companies, Sekisui House announced on its company’s website that it was preparing to include certain leases on the blockchain. The announcement published yesterday said that the Japanese real estate giant would use blockchain technology for contacts to rental apartments: this includes those related to water and electricity. The move enables Sekisui House to take property rental contracts one step closer from a single source.
Hot Topic in real estate industry
The use of blockchain technology was a proverbially hot topic within the real estate industry. Technology can not only ensure that transactions are lawful and legitimate; The technology also eliminates the previously mandatory need to involve third parties. In addition, blockchain records are immutable and tamper-proof. The efficient use of technology can reduce costs and provide more security.This initiative by Sekisui House enables residents of the Shamaison rental apartments to enter real estate without contacting third-party real estate agents. Potential tenants can register by phone number and address to complete transactions that are easily verifiable using the blockchain. The existing technology enables Sekisui House customers to open and close doors to houses with just one click on their smartphone. The planned measures are to be implemented by March 2021.