Blockchain technology is one of the most popular fintech nowadays and it becomes a “phenomenal technology” or a “game changer” to many industries. However, some startups only want to use blockchain for money laundering or token issuing without bringing any substantial application into force. Nonetheless, cryptocurrency is only a part of the usage of blockchain and the decentralized ledger is the core of this tech.

Recently, Xiong’an has built a house renting platform based on blockchain according to 8BTC. This house renting platform has been low-key launched for one month, it also becomes the first blockchain usecase in house renting area in China.

This blockchain house renting platform using decentralized ledger to ensure that no third party may eavesdrop, copy or tamper with any data. Therefore, all the information of the renting house, identity from both sides of the householder and the renter, as well as the house leasing contract information will be authenticated by multi-party through this platform. Which means all the renting information is reliable and cannot be tampered with.

By using this platform, people do not have to worry about being scammed, this is because information of all the aspects of renting a house are recorded in the blockchain to enable mutual authentication. It was also reported that China Construction Bank (CCB), LianJia (a real estate leasehold giant in China), Ant Financial are involved in the contribution of this new rental model. In particularly, Ant Financial is the core blockchain technology provider, while LianJia and CCB provide rental information and other services.

Notably, it’s not the first time for Xiong’an to cooperate with Ant Financial in adopting blockchain technology. On October 2017, Xiong’an signed an agreement with Ant Financial to build a smart city based on this tech. Blockchain was treasured by various financial and local government institutions because it has transformative and disruptive components for the business model in the future.