History is Made by First User of IHT in Purchase of Japanese Real Estate
If we say that the birth and circular use of currency quickened the pace of progress for humanity and made our lives more convenient, then the burgeoning application of digital assets and new payment tools, which are more advantageous in many ways, have changed our primary ways of living and thinking. Furthermore, these new applications of technology have injected new vigor into global economic development.
Recently, Ms. Hu of Hong Kong used IHTPay’s payment tool at a Hong Kong Cherry Blossom Real Estate Company branch to purchase a home in Nishinomiya, Yodogawa-ku, Osaka, Japan. This was preceded by an event on March 20th, when IHT and a Hong Kong-listed group eprint’s (1884) joint Japanese real estate investment firm, Hong Kong Cherry Blossom Real Estate Company, began working together. After a short time, a user purchased Japanese real estate using IHT, which was an industry first. This shows that the joining of the traditional real estate industry and IHT’s blockchain-based real estate model has resulted in quick real-life applications. “Using IHT saved a lot of time and was more convenient because I did not need to run to a bank and exchange Japanese yen, and I also didn’t need to worry about the fluctuations with the exchange rate” Ms. Hu said. “I only needed to head directly to the Hong Kong Cherry Blossom Real Estate Company’s branch to process the transaction and complete payment with IHT. Also, when I made the purchase the premiums went up some, which saved me even more money.”
In traditional real estate transactions, one must work with an unfamiliar seller, deal with pages on pages of contracts and endless transaction procedures where one is usually running around or waiting. Apart from that, these types of transactions are plagued by a high-risk of extortion, a lack of information transparency and very inefficient processes. IHT is based on blockchain technology which builds a bridge between both parties and at the same time can make the entire transaction process much more transparent, efficient and convenient. All of this made it so that Ms. Hu was able to complete her application, pay her deposit, sign all related documents and agreements as well as pay off her final balance and any service fees in a short amount of time.
“In 2018 we hope to have more than 100 cooperative real estate agencies and asset projects and we will focus on the Asia-Pacific region in the first half of the year, including Japan, China and Southeast Asia” said IHT CEO and Founder, IHT Ricky Ng. “In the latter half of the year, we will begin expanding into the European and North American markets. Our advantages based on IHT and IHTPay will be able to quickly service the real estate market and users, which will also increase the efficiency of real estate operations globally.”
We believe that the appearance of the first user who utilized IHTPay to purchase Japanese real estate is a tremendous beginning to our business applications. We can see the changes brought on by the combination of IHT and the traditional industry. Globally there is more real estate that is continually winding up, and in the future, the use of IHT to purchase global real estate will become a driving trend.
About IHT
IHT, the world’s first real estate blockchain transaction cloud platform, is a smart contract technology and distributed accounting technology developed for splitting real estate under i-house.com, which utilizes blockchain’s intrinsic advantages such as trustless mechanism, anti-tamper, co-supervision and traceability. To learn more, visit IHTcoin.com, and follow us on Twitter, YouTube, and Facebook.
