Blockchain In Real Estate & Construction
Administrators from Teton County in Wyoming have signed a memorandum of understanding (MOU) with Overstock.com subsidiary Medici Land Governance (MLG) to develop a blockchain platform to “track, record, and make available to the public certain information related to real property for management purposes,” according to a December 20 press release from Overstock.
Tokenized assets are here to stay. The current race is about who can get regulated products to the market first and then who can successfully gain user adoption. While several projects have purported to tokenize real estate assets, blockimmo is the first to do it within the bounds of existing regulations in two jurisdictions.
The Kenyan government plans to leverage blockchain technology for the distribution of new government-funded housing units, according to reports from local news outlet the Star. The Kenyan National Housing Fund will finance the initiative under the Finance Act 2018, and it plans to create an efficient allocation of the houses to those who need it using the distributed ledger technology. The State Housing and Urban Development Permanent Secretary Charles Hinga said the Fund expects to raise about Sh55 billion a year (around $545 million) to build “cheaper 500,000 housing unit.
6-Oct-18 Japan: Real Estate Company Ruden Turns to Bitcoin and NEM Blockchains for Cryptocurrency Settlement System
A Japanese real estate company has unveiled a cryptocurrency settlement system for seamless property transactions, reported DigitFinance on September 4, 2018.
Listed on the Tokyo Stock Exchange, real estate business Ruden Holdings revealed the Bitcoin and smart contract-based settlement system produced far-better results than the currently used framework.
A strategic alliance between Fidelity National Title and Building Block REIT was announced today. The alliance will cooperate their respective marketing and sales efforts in the greater Chicago market and will join in pursueing client opportunities.
Both companies are expected to extend their capabilities by leveraging their combined strengths to deliver greater value to their clients in the purchase and sale of multi-family, office space and mixed-use commercial real estate.
P.S. Read more news in the new issue of our Rising Blockchain Magazine.