Fantastic News on MTRT aka Medium...
Can't believe no one responded....
Medium, a blockchain company, announced on the 7th that it is speeding up the establishment of a blockchain-based trust guarantee system for 'Peter Pan's Good Room' (hereinafter referred to as Peter Pan), the largest real estate direct transaction platform in Korea.
Medium and Peter Pan signed a supply contract to build a blockchain-based real estate price bidding and trust guarantee system in January. This contract is a part of the '2020 Small and Medium Business Technology Innovation Development Project' by the Ministry of SMEs and Startups, and is a project proposed to improve problems in the real estate brokerage market, such as the practice of false sales due to over-competition and the structure of price negotiations between lessors and lessees.
The trust guarantee system jointly developed by the two companies is a project to maximize the reliability of real estate transactions between tenants and brokers by introducing Medium's high-performance blockchain technology to Peter Pan's real estate direct transaction platform. A Peter Pan official said that through this, they plan to fundamentally block false sales and provide reliable services to trading partners and brokers.
Peter Pan is a real estate direct transaction platform that provides smart services that enable anyone to easily and safely conduct real estate transactions. The platform can check the safety of the property in real time with SK C&C's artificial intelligence (AI) technology, and supports secure mobile contracts with KT's block chain technology.
Medium, a blockchain specialist, has a high-performance blockchain solution MDL (Medium Distributed Ledger) that can process massive amounts of computation in data-overcrowded sections. Industry insiders predicted that the application of such high-performance blockchain will affect the service stability of the Peter Pan platform, which is continuously increasing.
In the case of direct transaction apartment sales on the Peter Pan platform, Medium is increasing more than 150% from about 130,000 in 2018 to about 36,000 in 2020. It said that it will be possible to provide high-quality services to transaction parties through stable responses in the section where data is instantaneous.
The focus of both companies is to secure the reliability of the real estate sale and transaction party information that the platform should provide. This is because, as the number of items for sale increases, the risk of manipulation or false information provided by lessors and brokers may increase, and substantial damage may occur. In response, Peter Pan plans to provide a safe ecosystem where mutual trust is possible by processing the information on sale on the platform with a blockchain and transparently disclosing actions such as registration, modification, and deletion.
A Medium official said, "Through Peter Pan's trust guarantee system construction project, we expect that blockchain technology will be able to show a practical example of providing more reliable property information on a real estate direct transaction platform." By presenting a positive model, we will be able to show Korea's excellent blockchain technology in the field of proptech, which continues to rise rapidly around the world.”
