Dutch City Trials Blockchain for Real Estate Contracts
Deloitte's Netherlands branch is working with the city of Rotterdam to create a prototype for recording lease contracts on a blockchain. In conjunction with the Cambridge Innovation Center (a real estate services firm based in the US), the project will focus on developing a platform for managing housing transactions. The area is one being explored by several startups, with the Rotterdam trial representing the latest effort to bridge the real estate industry and blockchain. The first part of the process involved building a mechanism for recording lease agreements. From there, those involved....
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In a notable endorsement and application of blockchain technology, the Dutch City of Rotterdam is working with Deloitte Netherlands and the Cambridge Innovation Center (CIC) to develop a real estate blockchain application to record lease agreements. First announced by Deloitte Netherlands, the aim of the blockchain pilot project is to conclude legally binding lease contracts “faster and easier” before eventually monitoring rental payments as well. “By implementing additional blockchain applications in the real estate industry, transaction times and costs can be reduced further,” stated Jan....
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