Japanese prop-tech firm Tateru Inc. is using blockchain technology to curb false property listings and improve transparency in transactions. The tampered data prevention system is will be launched by the end of February.
Founded in Jan. 2006, Tateru Inc. (TSE: 1435) runs a property vertical Tateru-BuySell and a property-matching site for brokers at Tateru-BuySell.jp/Business.It entered into overseas real estate transactions last year in partnership with Southeast Asia-focused property vertical PropertyAccess; in which Tateru holds an undisclosed stake.
The company is currently developing the system with the help of Hong Kong-headquartered blockchain tech firm DigiNex. The system hinges on cloud storage connected with a digital ledger that records access history — like file browsing — and takes inputs directly from customers, without assistance from real estate agents.
Property vertical Lifull Home’s (at Homes.co.jp) launched a joint study with leading tech firms and a research institute in June last year. It will look into the commercialization of a platform utilizing blockchain technology.