BitFlyer and Japan business giant Sumitomo to develop blockchain-based rental app

posted 25 days ago
BitFlyer Blockchain and Japanese business giant Sumitomo Corporation have joined forces to develop a blockchain service that allows users to sign rental contracts over a mobile app and more. The firms plan to develop a “one-stop shop,” allowing users to search for properties, make bookings, sign contracts and pay different expenses, as well as providing contract renewal and exiting procedures.

As for benefits, bitFlyer and Sumitomo say that the app would use smart contracts on a blockchain to improve the efficiency of the rental business, lowering costs and speeding up the process of signing up to lease a property. Yuzo Kano, managing director of bitFlyer Blockchain, said the app would usher in “a world where everything from browsing to contract is completed with a smartphone.”
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