DREP, a leading provider of blockchain technology, announced another heavyweight partner, Landream Group, Australia's top real estate development group. Founded in 2006, Landream is a giant of high-end real estate projects with investment and development of over 2 billion Australian dollars. Partners include well-known real estate companies such as Xinhualian.
Landream Group has consulted the DREP team on the digital transformation of the real estate business since the beginning of 2018, and established the cooperation intention and cooperation content with the DREP team in the real estate sector in early 2019. Landream will implement a transparent and intelligent real estate transaction settlement data solution based on DREP; build a trusted digital identity of real estate industry participants based on DREP ID, and explore the use scenarios of DREP Token in real estate sales and leasing business.
The Australian real estate market experienced growth bottlenecks and financing difficulties in 2018. Against this background, Landream plans to change its apartment market strategy and invest in other benign projects. At the same time, in response to the plight of real estate developers, Landream is seeking a blockchain-based solution to help them solve a series of problems such as project financing, transaction settlement, discounts, and credit confirmation.
Previously, DREP, as a leading provider of underlying blockchain technology solutions, conducted model deductions and technical solution reserves for the pain points encountered by the real estate industry and how to use blockchain to solve these problems. In the months of frequent communication with Landream, DREP technology and product teams are more aware of the role and advantages that blockchain technology can play in the real estate industry scenario, and how to solve these problems with high efficiency and low cost. In this in-depth cooperation between the two parties, DREP will focus on assisting Australia's top developer Landream to open up the innovation factor of local real estate, using forward-looking technical implementation methods to build a customized base area with lower cost, higher efficiency and more flexible structure Blockchain service network to help Landream establish new standards for the local market.
Embrace DeFi and restructure the real estate financial system
In the process of Landream's gradual upgrade of traditional business, DREP will develop a customized service network based on DREP chain and DREP DID for it, and the architecture will be closer to the latest DeFi concept. Using blockchain as the underlying DeFi and the traditional financial technology service called Fintech, there is an essential difference between the two: DeFi is a free peer-to-peer network, and the confirmation of trust relationships is minimized.
There is no need to rely on credited third parties, such as fee-based financial institutions or multiple intermediaries, to use Token as a physical tokenized carrier and blockchain as the underlying value transmission network to get through all real estate finance in one stop. The financial agreement and data agreement, one of the current cooperation plans is to discuss the feasibility of DREP Token placement, that is, DREP Token becomes a utility token on the Landream platform for all activities on the payment platform.
Connecting the DREP customized underlying blockchain network to the Landream platform will achieve the following four revolutionary innovations in the real estate industry:
① Establish real-time transaction settlement network of real estate industry based on algorithm trust
DREP will provide Landream with an instant transaction settlement network based on algorithmic trust. In this network, Landream can present the details of buyers and sellers, transaction fees, exchange rates, transaction time, etc. in the privacy-protected blockchain network constructed by DREP; the transaction settlement information of both parties is synchronized through global nodes to fully achieve Traceability and no need for credit, to achieve seamless and low-cost transaction settlement between buyers and sellers. Moreover, the availability of funds through password verification promotes the simultaneous transfer of funds and improves the robustness of the process. In this way, settlement risks and payment delays can be minimized.
② More flexible and lower threshold real estate investment and financing platform
DREP will assist Landream to build a decentralized asset trading platform, so that the real estate market participants targeted by Landream can enjoy more flexible, granular and discountable real estate project investment and financing and capital exit services , avoiding third-party financial institutions The layers of turnover and review process. If local compliance qualifications can be obtained in the future, qualified investors can also directly use Token to participate in investment and financing of real estate projects to achieve more convenient and more liquid peer-to-peer asset trading services. Of course, in this mode, all users need to be identified and strict KYC / AML authentication is performed to ensure compliance with local laws and regulations.
③ Privacy, security and trusted digital identity based on DREP DID
Landream will be based on DREP DID, so that commercial real estate participants can develop digital identities for real estate, and add market participants' information and some features to digital identities. With the characteristics of blockchain technology, these records will not be tampered with. This process can simplify financial and legal information, shorten the due diligence process, optimize the information flow in the industrial chain, and at the same time, the decentralized ID system can ensure customers Information privacy and security improve the current bad business environment of user data leakage and abuse.
④ Put in DREP reputation agreement to create transparent on-chain property management
Through the DREP reputation agreement for Landream ’s new network access, property managers, tenants, agents and real estate professionals can earn DID points with reputation attributes on the blockchain. DID points have higher credibility than traditional points, and can reflect true activity, credibility and other information. Moreover, this completely decentralized information is truly transparent and difficult to tamper with, and it is impossible to change all aspects of its interests through purposeful information recording.
Landream can also use DREP Token to pay for sale and rented houses, realizing cost savings and real-time transparency. Complete property and tenant transparency will make every part of the property management and leasing business more intelligent and credible when the blockchain handles most of the record work.
As a disruptive financial innovation, DeFi is not the migration of the traditional financial chain, it will grow and evolve on the blockchain in the course of business activities. DREP will be based on the real demands of partners in different industries, truly linking blockchain technology to the needs of physical enterprises, reducing the difficulty of landing, and bringing real users to the blockchain field.
At present, DREP's commercial solutions continue to sink in various traditional fields, including real estate, finance, supply chain, gaming and other industries. Through these early accumulations and explorations, DREP will continue to deepen the development of enterprises in various industries on the blockchain Understanding of real needs creates more epoch-making leading standards, has a solid foundation, and strives to become the mainstream blockchain infrastructure in the next era.
