House.Russian Vostok and launch blockchain-based platform for the real estate market

Yesterday Russia’s largest Bank Sberbank announced about the intention to hold the Moscow ICO educational lecture Level One. The initial placement of tokens will take place before the end of the summer, explained in a financial institution. Now the Institute for the development of housing House.Along with the Russian Vostok Fund will create a blockchain-based platform for participants of the housing market. This writes the RNS.

The blockchain in Russia. Real cases

In a joint press release the companies said that the project will improve the transparency and efficiency of interaction between developers, banks and buyers.

It is expected that based on the blockchain-a platform will be created a relationship of trust between all participants in the housing market: public authorities, banks, Home.Of the Russian Federation, Fund of protection of the rights of citizens — participants of shared construction, the Federal registration service, developers and insurance companies. As a result, this will allow you to automate processes in the areas of housing, mortgage lending, rental properties, implementation of land and so on.

According to the head of Vostok Alexander Ivanov, in the near future the blockchain will change many industries, including real estate. Companies and governments need to be ready for it.

The widespread adoption of blockchain technology and tokenization is inevitable. The housing sector in this process is one of the leading because it is at the intersection of several phenomena, including banking, construction and even daily services. Such industry requires advanced and technological solution that optimizes all processes and allowing participants to interact openly fast and mutually beneficial.

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