Speeding Up Mortgage Application Times: 'Future of Real Estate' Gets Regulatory Approval

A blockchain-based startup which bills itself as "The future of real estate" has announced that its project has been legalized by Japanese regulatory bodies, including the Securities and Exchange Surveillance Commission.

The company has a goal of creating digital identities for real estate properties, helping to enhance the quality and consistency of information given to buyers and sellers.

Illustrating its potential, its team wrote: "Governments are now trying to use blockchain technology to register real estates and improve the transparency of lands and real estate ownership."

In time, the company also hopes its technology could speed up the time it takes to get a mortgage - a prospect that would be welcome news for buyers.

Executives from Ruden recently attended the controversial Future Investment Initiative in Riyadh, Saudi Arabia, where their project attracted the attention of the Lebanese ambassador.

The company is also gearing up for "High-level" talks with the finance minister of Lithuania in the not-too-distant future.

Jacky Hai, the company's chief technology officer, told Cointelegraph: "Blockchain is a powerful tool for us which will enable us to define the future of real estate."It will speed up the process of buying property and open up the Japanese real estate market to foreign investment.

The Ruden token allows us to incentivise the uploading of current real estate data which will unlock the value of large-scale data analysis.

Building a home for real estate documentsIn the fourth quarter of 2018, the startup has been embarking on fundraising with the goal of driving interest in its native Ruden coin.

From here, it is expected to be listed on overseas cryptocurrency exchanges by Dec 1 2018.Next year, the emphasis will shift onto building a platform where real estate can be securely purchased using cryptocurrency - and designing an "information registration and query system" to benefit its user base.