Luhuita City, Hunan Province, China, has announced a block-chain platform that can store real estate data. According to the People’s Daily, the platform will simplify procedures such as submitting documents to municipal authorities.
The platform will begin operations on November 15, with support for the city’s land, tax and real estate sectors in the center of Hunan Province. It is an explanation that it is possible to avoid the procedure of line-finding or finding a government office when submitting documents at each division. He has also issued his first real estate electronic certificate through a new block-chain-based system.
China is actively promoting the introduction of block chain technology in the public or private sector in China. In September, the People’s Bank unveiled a trading finance block chain platform for Guangdong, Hong Kong and Macao regions. The platform aims to provide an ecosystem for border trade in the region. In September, the State Transportation Bank issued a blockbuster chain of $ 1.3 billion in electronic mortgage-backed securities. In July, the Agricultural Bank of China provided $ 300,000 in mortgage loans to local farmland through a block chain. For more information, please click here .