The real estate sector is a traditional industry that, to say the least, is not always open to change. There are a large number of players involved in the renting and maintenance of a building. Landlords, tenants, real estate agents, notaries and contractors, all who have their own way of communicating and storing data. This challenge was the driving reason for director Kees van Iwaarden of LOEK!, the digital building file linked to the blockchain network of Ledger Leopard.
‘Blockchain establishes the foundation for trust’
Kees van Iwaarden
“How beautiful would it be if all the information about a building was actually stored at the building in such a way that it could easily and safely be shared with other stakeholders” says Kees van Iwaarden about his company. With a background in the maintenance world, he knows how much time and energy can be lost if parties in the property market do not cooperate together.
“This includes commercial information, such as rental contracts and valuation reports and technical information about the building such as inspection reports and maintenance contracts. All this information is stored in different systems, mailed or shared via the cloud. Sometimes ten versions of a document go back and forth, and at a given moment you do not know whether you are looking at the right information. That trust is of great importance in the real estate sector, and you must be able to assume that important documents such as a rental contract or valuation report will not be changed unnoticed. Blockchain establishes the foundation for trust.”
LOEK! uses the link to the blockchain solution from Ledger Leopard, to ensure that information that parties share is safely and irrefutably saved. “We log every transaction that is done. This means that it is immediately clear which party has uploaded information, with whom the information is shared and whether the information has been changed.”
The self-renting building
Van Iwaarden’s dream is a building that rents and maintains itself. “Ledger Leopard is working to help me realize my entrepreneurial dream. I see in the future that a property offers itself on a rental platform, an interested tenant responds, digitally signs the contract and he or she will have automatic access during the contract period. In order to achieve this, you must be able to guarantee the identity of the tenant and the landlord, and you must be able to draw up and agree upon a contract digitally without the risk of manipulation. Blockchain technology is exceptionally suitable for that.”
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