Japanese Housing Giant to Begin Blockchain-powered Home Rentals

Japanese Housing Giant to Begin Blockchain-powered Home Rentals

Blockchain
June 9, 2020 Editor's Desk
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Sekisui House, Japan’s biggest housebuilder, states it will launch a blockchain-powered home leasing platform for its Sher Maison range – and could enable renters to sign contracts and pay utility bills applying blockchain-based solutions straight from their smartphones. As per Cnet Japan, Sekisui House states that the platform will be a “one-stop service” that involves
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Sekisui House, Japan’s biggest housebuilder, states it will launch a blockchain-powered home leasing platform for its Sher Maison range – and could enable renters to sign contracts and pay utility bills applying blockchain-based solutions straight from their smartphones.

As per Cnet Japan, Sekisui House states that the platform will be a “one-stop service” that involves contract procedures, rental property inspection services, and billing for electricity, gas, and insurance. The company states it will utilize blockchain technology solutions from Nexchain, a blockchain consortium whose members comprise Japanese business heavyweights such as Hitachi and the Kansai Electric Power Co.

Sekisui House and Nexchain state they believe the platform will be operational within the current financial year (FY2020). The platform states the company will provide tenants to generate accounts and allow them to pay bills without the requirement to register with individual power, utility, and insurance providers beforehand – potentially saving renters from time-consuming paperwork every time they move house.

House-hunters can also utilize the platform to book viewing appointment times, and the platform will also appear with a “smart key” – which enables tenants to unlock their front doors utilizing their mobile phones. Japanese legal and industry regulations demand that tenants prove their identity to utility providers, rental agencies, and more – often requiring to fill out paper documents. Nonetheless, the company states that the blockchain platform will enable tenants to use a single, blockchain-powered identity solution instead.

The company last year moved into the British market with a deal with the government-run Homes England and Urban Splash incentives. As per an official UK government release, the move will comprehend the Japanese home builder “deliver thousands of new homes across England.”

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