The Chinese city of Loudi has launched a blockchain platform to store real estate data. The platform is backed by land, tax and real estate departments in the city, which is located in central Hunan province. Starting Nov. 15, the new system will let citizens avoid lines and other bureaucratic processes when submitting documents to the above-listed departments.
To make things even more interesting, the city just issued its first real estate electronic voucher, via the new blockchain-based system. China is among the countries actively adopting blockchain technology on both the public and private levels. In September, the People’s Bank of China (PBoC) announced the “Guangdong, Hong Kong and Macao Dawan District Trade Finance Blockchain Platform,” which aims to provide an ecosystem for cross-border trading in the mentioned areas.
The real estate electronic registration will offer one window acceptance at one station to complete all the processes related to real estate. It will indeed be a great facility for the masses. According to the Deputy Mayor of Loudi City, Chen Hao, “The online launch of the sharing platform is conducive to optimizing the government process and simplifying the process of the masses. He further added, “putting, managing, and serving”, and truly “data is more running, less people”. Run the road.”