Bank of China Collaborates For Blockchain Platform Related To Property Buyers

Hong Kong Applied Science and Technology Research Institute (ASTRI) will collaborate with a property development firm New World Development in order to launch a blockchain platform for home buyers. Reportedly, the Bank of China was the service’s first bank user.

Announced by local news outlet the Standard on Feb. 20, the platform will reportedly focus on replacing paperwork operations, like signing the Provisional Sale and Purchase Agreement or a mortgage application with digital authorization. Purportedly the platform will allow users to send the purchaser’s authorized, encrypted and digitally signed provisional agreement to selected banks.


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