City of Rotterdam, CIC and Deloitte Working on Real Estate Blockchain Project

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According to Deloitte Netherlands, The city of Rotterdam, Cambridge Innovation Center (CIC) Rotterdam and Deloitte Netherlands are developing the first real estate Blockchain application to record lease agreements.

The concept comprises the digital recording of the lease agreements of the CIC on Blockchain. This enables startups in the CIC-network to conclude contracts faster and easier. Recording legally binding contracts on Blockchain is a first step towards a more efficient and transparent management of real estate.

“The next step will be monitoring the rental payments. By implementing additional block chain applications in the real estate industry transaction times and costs can be reduced further. Furthermore it enables decision makers to use data analysis for making future investment decisions on selling, buying and constructing real estate, ”according to Jan Willem Santing, manager of Deloitte Real Estate.

This project enables the development and implementation of pilots as part of the Roadmap Next Economy, an initiative of 23 municipalities in the metropolitan region Rotterdam / The Hague. Experimenting with a potentially disruptive technology such as Blockchain in an early stage enables ‘the participants’ to better assess the impact of this technology. With this project, the city of Rotterdam is taking a major step forward by applying the Blockchain as well as by offering the Blockchain technology to third parties.

Blockchain comprises a distributed database where transactions are recorded. The administration of these transactions is public and decentralized, there is no need for a central authority that provides ‘trust’. In addition, the underlying technology is secured with strong cryptography, which makes fraud almost impossible. The impact on the economy is therefore expected to be (very) large.

In order to develop Blockchain applications quickly Deloitte starts its co-creation processes with its customers and partners. As a partner of the municipality of Rotterdam, Deloitte has been involved right from the start with the introduction of CIC in the Netherlands. Rotterdam plays a central role with CIC in the Dutch start-up and innovation hubs. Thanks to –  for example – its non-profit sister organization Venture Café, knowledge institutions and their hubs (Erasmus Centre for Entrepreneurship, RDM Rotterdam and Yes!Delft), investors and businesses are able to find each other well. CIC is considered a new driver of economic growth, employment and investments.

 

About Richard Kastelein

Founder of industry publication Blockchain News, partner at ICO services collective CryptoAsset Design Group (helped raise over $200m+), director of education company Blockchain Partners (Oracle Partner) and ICO event organiser at leading industry event  CryptoFinancing (first ICO event in Europe) – Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of half a dozen Blockchain startups and has written over 1200 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat.
 
Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London, Manchester, Minsk, Nairobi, Nanchang, San Mateo, Shanghai,Tel Aviv and Venice. His network is global and extensive.
 
He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He’s written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com and his work and ideas have been translated into Dutch, Greek, Polish, German and French.
 
A journalist by trade, an entrepreneur and adventurer at heart, Kastelein’s professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he’s travelled for nearly 30 years as a Canadian expatriate living around the world.
 
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, “The Hitchhiker’s Guide to the Seas’ travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he’s raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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