Taking pride in being China’s first real estate entities to get listed in NYSE, the Xinyuan Real Estate Co. Ltd. has started implementing the expertise of blockchain technology into the business to boost its operability and manageability. The firm has established itself as the first real estate player to adopt blockchain pedagogy.
The firm is striving to evolve itself as the market leader in the real estate space through the employment of the X-Bolts blockchain technology solution along with other efficient products like Golden Bricks and Conbow, which also operates on blockchain.
Earlier in 2015, Xinyuan collaborated with Beijing Rchain by making a strategic investment in the project. The main aim of the investment was to gain knowledge about the basic underlying principles of the blockchain network while laying special stress on the Blockchain As A Service or the BAAS platform. Based on the blockchain technology, the BAAS solution is critically expandable, user-friendly, and self-controllable.
Rchain stands tall as one of the first five entities in China to clear the blockchain standard test conducted by the Ministry of Industry and Information technology. The firm was an active participant in the preparation of the blockchain standard channelized by the Ministry of Industry and Information Technology in 2016.
It also played an important role in the preparation of the Legal Policy Research Report on the Application of Blockchain in the Financial Field. Interestingly, Rchain is known for patents. In 2018, it found a place in the Top 20 list of Hurun blockchain enterprises and also lifted the prize for the “Star of Blockchain” award by People.com.
As of October 31, 2019, the blockchain solution, Rchain, has disclosed 57 patents concerning the blockchain niche and has nearly 83 patent applications for the same period of time.
In 2016, Xinyuan collaborated with Tsinghua PBC School of Finance (PBCSF) to establish Xinyuan Real Estate Finance Science and Technology Research Center. The institution is focused on imparting research in new-age technologies and innovative solutions like blockchain, artificial intelligence, big data, finance, etc. With strategically designed research analysis and operations, the center aims to enhance the management and professional expertise in the field of financial science and technology.
Zhang Yong, the well-known entrepreneur and Chairman of Xinyuan, has been an ardent supporter of science and technology. The spearhead opined that the real estate industry would be benefitted in a big way with the upgradation and transformation through new-age innovative ecosystems and technologies. The company is striving hard to employ blockchain technology with the complexities of market and industry to create applications dedicated to the real estate arena.
Golden Bricks solution is designed to speed up the real estate processes, reduce the selling cost, and enhance the customer experience in a big way. Conbow solution uses blockchain as well as IoT to lift up the living quality of the customers along with upgradation of property services. It leads to a reduction in the cost of property management too.
Xinyuan is likely to serve the economy in the best possible way by developing cutting-edge technologies and innovative applications.