Mortgage Application Should Be Done Within The Shortest Time As Real Estate Gets Regulatory Authorization
A blockchain startup has declared that its venture has been endorsed by Japanese supervisory bodies, including the country's SEC. Ruden Holdings claimed that the property sector is facing several problems such as poor record keeping and ineffective procedures.
Additionally, it has led to a loss of resources and time in this sector. Entities cannot easily share information which makes it hard for industry players to collaborate. At times, property owners struggle to prove ownership of their real estate.
The corporation aims at creating computerized identities for real estate assets. The step will ensure that both the buyers and the sellers get information on time. Another objective is to decrease expenses related to executing trades through smart contracts and crypto payments. This will give overseas investors an opportunity to buy assets in different parts of the globe
Ruden suggests that digitizing certificates for properties will significantly reduce fraud in this industry. The encrypted information on documents makes it difficult for fraudsters to tamper with details. Many nations are now using blockchain knowledge to list real estate and increase transparency in the industry.
Ruden holdings has managed to raise $10 million from private equity corporations in Asia. This is after it was allowed by the market regulator to conduct its operations in Japan. The startup has plans to extend its operations in other jurisdictions such as in Saudi Arabia and Lebanon.
Ruden believes that the UAE provides excellent opportunities for growth in the future. Cointelegraph recently suggested that the state intends to become a global leader in the use of blockchain. Therefore, half of the trades will be done through blockchain knowledge.
Jack Hai also backed these sentiments by saying that blockchain should be used to speed up transactions in the real estate sector. As a result, individuals will be encouraged to buy property through blockchain platforms.
Constructing A Residence For Physical Asset Documents
In the last quarter of this year, the company engaged in fundraising activities with the aim of driving interest in its indigenous Ruden currency. It is now expected to be registered on foreign digital money exchanges by the beginning of December 2018.
By 2019, investors should have a platform which they can use to buy assets by using crypto. Users of the platforms should be able to easily share information with each other.
Susumu is the current CEO of Ruden. He has held the position for nine years since 2009. He previously worked at a law firm before commencing with his own company. His corporation has assisted several individuals to purchase real asset properties.