Inacta and leading Swiss real estate company launched first blockchain application
“(…) Swiss Prime Site has decided to enter into a strategic partnership with the Zug-based IT consultancy firm inacta. The agreement will enable the two companies to work together on developing new applications based on Blockchain technology. (…)
In the real estate sector, Blockchain applications have the potential to make the administration of office and residential contracts significantly more efficient. Wincasa, Switzerland’s largest integrated real estate services provider, manages properties worth CHF 65 billion. (…) Working with inacta, Swiss Prime Site has been able to demonstrate that by using Blockchain technology it is possible to create a highly efficient mechanism enabling tenants and landlords to process the initial payment and ultimate reimbursement of escrow deposits directly between themselves.
(…) As Urs Baumann, Swiss Prime Site’s Head of Sustainability and Innovation, explains, «We see this first application as a door opener which will enable our clients to derive concrete benefits from using decentralised data bookkeeping technology. Very soon, smart contracts of this kind will be in ever wider use.»
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