First Realtor's Deal Using Blockchain Concluded in UK

Four-room house in Oldham was first in United Kingdom to be sold using distributed ledger technology
19 March 2018   1027

In Oldham, in the county of Manchester, a first house purchase deal was concluded using the blockchain technology. It is the first deal of this kind in UK. This is reported by Buy Associattion.

Manchester Group HS Property Group used the Clicktopurchase platform to sell a four-room house in Oldham.

As a company which prides itself on innovation, we want to offer our global investor network a more straightforward and secure method to purchase residential investments without compromising any legal safeguards.

Guy Horne
Director and co-founder, HS Property Group

All stages of the transaction, including supply, acceptance and exchange of contracts, were recorded using the blockchain.

Some of the biggest problems the property industry faces is the length of time it takes to exchange contracts along with the lack of certainty. Real estate transactions can be complex but by using clicktopurchase the process is significantly quicker.
 

Neil Singer 

CEO, clicktopurchase

The only yet not digitized stage is the registration of the purchase manually in the Land Register.

Bank of China to Issue $2.8B Blockchain Bonds

Bank used its own DLT system to issue blockchain bonds
09 December 2019   53

The fourth largest state bank, the Bank of China, has issued two-year blockchain bonds for small businesses totaling $ 2.8 billion.

To issue digital certificates, Bank of China used its own blockchain system.

It is also the first blockchain-based bond issue accounting system in the country.
 

Bank of China

Securities will go on sale with an interest rate of 3.25% per annum.

Thus, the bank hopes to raise funds to support small businesses in the country. As of September, as part of this initiative, the bank provided loans to small and micro enterprises for a total of $ 57.7 billion.