In Japan, one of the largest housing developers is making arrangements for contracts for certain rental houses to be made through blockchain.
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According to an announcement posted on the company’s website June 8, Sekisui House said it would use blockchain for housing leases, including electricity and gas coverage, these measures would be implemented by March 2021.
Users staying at the „Shamaison“ rental homes will be able to register their phone numbers and addresses to enter the property without having to contact a real estate agent. The technology available today makes it possible for Sekisui House customers to open and close doors with their smart phones only.
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Moving towards unique leases
Housing developers in other countries have been pushing for the registration of property leases in blockchains, Cointelegraph reported in June 2019, that regulators in Malta required that contracts be registered in a blockchain to protect them from tampering and ensure authorized access.
In July 2019, Japan’s blockchain company, bitFlyer Blockchain, announced that it had partnered with Sumitomo Corporation to launch a smart contract driven real estate business in its internal blockchain, Miyabi.
Sekisui House began building a real estate information management system using blockchain in collaboration with KDDI and Hitachi in 2017, the company is a member of Nexchain, a consortium of companies sharing information, including blockchain technology.