Zenhoren Co., Ltd., Zenrin Co., Ltd., Net Protections Inc., LIFULL Co., Ltd., NTT DATA Institute of Management Consulting, Inc., and NTT DATA Global Technology Services Japan Co., Ltd. have recently initiated collaborative study on commercialization of the platform using Blockchain technology for sharing Real Estate information.
To further expand this approach in the future, this summer, we plan to set up a consortium by collaborating with more companies and research institutions, sharing their views, and are inviting active participation of related companies to this consortium.
1. Background for this study
Since December 2017, LIFULL Co., Ltd., NTT DATA Institute of Management Consulting, Inc., and NTT DATA Global Technology Services Japan Co., Ltd. have been studying the applicability of Blockchain technology in sharing Real Estate information such as property information and have also been developing the prototype using the same technology. After defining the service model assuming role of multiple players in sharing Real Estate information, and developing the prototype of platform, we have initiated a collaborative study for commercialization along with Zenhoren Co., Ltd., Zenrin Co., Ltd., and Net Protections Inc., who hold a variety of information related to sharing of Real Estate information.
2. Objective of this study
In this study, we have conducted hypothesis testing of use cases in sharing the Real Estate information among multiple players in different industries, studied the business model and the technology, and we aim to establish a Real Estate information sharing consortium using Blockchain technology by the summer of 2018.
3. Overview of this study
With the implementation of this study, Zenhoren Co., Ltd. (Rent Liability Guarantee business) dealing with real-estate related business, Zenrin Co., Ltd., (Map information business), Net Protections, Inc., (Payment services provider), and LIFULL Co., Ltd., (Real Estate portal business), will derive the use cases based on the characteristics of business and information held by each company. NTT DATA Institute of Management Consulting, Inc. will consult on strategy planning and promotion of this collaborative study, and NTT DATA Global Technology Services Japan will support the study of Blockchain technology development on the basis of Proof of Concept (POC) result.
We will achieve a common management of information that was not done before by constructing a shared platform of Real Estate information using Blockchain technology, and thus aim at improving the efficiency of existing business, and improving transparency and accuracy of information in distribution of Real Estate information. By linking the business of each area on the platform, we will not only improve transparency and accuracy of Real Estate information, but also study how to use it in new Real Estate services or advertisement services or in financial services including settlement services.
4. Future direction of this study
We would appeal for participation of associated companies beyond the industrial boundaries, aiming to build a new cross-industrial platform for Real Estate transactions by expanding the associated companies and activating the transactions.