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Chinese city of Loudi rolls out blockchain platform for real estate data

Wed, 14 Nov 2018, 05:25 am UTC

The Chinese city of Loudi, located in central Hunan province, has rolled out a blockchain-based platform for recording real estate data, CoinTelegraph reported referring to a report from People’s Daily.

The platform is backed by the city’s land, tax and real estate departments. It will allow citizens to avoid queues and other bureaucratic processes when submitting documents to these departments, starting November 15. However, citizens will also have the option of applying through the traditional paper-based process.

“The Loudi City Real Estate Blockchain Information Sharing Platform project was implemented by Hunan Smart Government Blockchain Technology Co., Ltd. It is the first application scenario of Loudi in the field of government service, and it breaks through the barriers of breaking departments and levels, and opens up information sharing and management coordination,” People’s Daily said(via online translation).

The first real estate electronic voucher has also been issued in the city using the new blockchain platform.

Chen Hao, deputy mayor of Loudi City, said that launch of the blockchain platform is “conducive to optimizing the government process and simplifying the process of the masses.”

The launch comes amid larger blockchain push in China. In September, the People’s Bank of China (PBoC) launched the testing phase of the “Bay Area Trade Finance Blockchain Platform” focused on conducting trade activities. In the same month, reports suggested the setting up of a new trade and finance blockchain platform, called the “Guangdong, Hong Kong and Macao Dawan District Trade Finance Blockchain Platform,” backed by the PBoC.

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