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| September 19, 2018

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Owner of company that wrote fake TripAdvisor reviews may be first to get jail time

September 16, 2018 |

TripAdvisor, one of the world’s biggest travel review sites, wants the world to know that it won’t turn a blind eye to fake reviews.

To get that point across, the Needham, Mass.-based site commended the nine-month jail sentence and $ 9,300 fine imposed on the owner of an Italian company who provided…


L.A. Times – Business

Australia Antitrust Regulator Clears $9 Billion Bid for Pipeline Company

September 12, 2018 |

Australia’s antitrust regulator won’t stand in the way of a multibillion-dollar takeover of one of the country’s main gas-pipeline operators, putting the deal by Hong Kong’s CK Infrastructure Holdings in the hands of foreign investment authorities.
WSJ.com: What’s News Asia

Snap’s Strategy Chief Imran Khan to Leave Company

September 11, 2018 |

Snap Chief Strategy Officer Imran Khan is leaving, the latest senior member of CEO Evan Spiegel’s circle to exit as the social-media company faces challenges growing its number of users.
WSJ.com: US Business

CBS announces new independent board members to strengthen company leadership at a turbulent time

September 10, 2018 |

CBS Corp. announced a sweeping changing of the guard late Sunday, installing an acting chief executive and six new board members with impressive credentials who will help oversee the media company as it transitions to a new era of leadership.

The move came simultaneously with the departure of CBS’…


L.A. Times – Business

A year after Equifax’s giant data breach, the company is prospering

September 9, 2018 |

Data breach? What data breach?

One year after Equifax Inc. disclosed a hack of its computers that shook the financial world, sparking an FBI review and slashing a third off the company’s share price in one week, investors and the public seem to have largely moved on.

The company, whose shares have…


L.A. Times – Business

Amid EpiPen shortage, Walgreens teams up with drug company that offers an alternative

September 6, 2018 |

Amid a shortage of EpiPens, pharmacy chain Walgreens is teaming up with a drugmaker that makes a competing allergy injection.

The Auvi-Q — a device used to inject epinephrine to counter severe allergic reactions — is available for the first time at Walgreens stores nationwide. Before, people seeking…


L.A. Times – Business

Japanese Company Trials BTC and Smart Contracts in Real Estate Transactions

September 4, 2018 |

Japanese Company Trials BTC and Smart Contracts in Real Estate Transactions

A Tokyo Stock Exchange-listed company has built a cryptocurrency settlement platform for real estate transactions. The firm has tested the platform using BTC and smart contracts for property sales and has released its findings; many benefits were observed over the traditional method.

Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals

BTC and Smart Contracts in Real Estate

Japanese Company Trials BTC and Smart Contracts in Real Estate TransactionsJapanese real estate company Ruden Holdings (TYO:1400) recently announced the results of an experiment using its newly-created “virtual currency real estate settlement platform.”

Japanese Company Trials BTC and Smart Contracts in Real Estate TransactionsThe company explained that the trial, which involved BTC and smart contracts, was conducted in collaboration with Blockchain Global Limited (BGL). The two companies partnered in April to develop the settlement system and a “virtual registration data inquiry system,” Ruden detailed, adding:

For the settlement of bitcoins (BTC) used in the property sale, Bitflyer’s web service and API functions were used.

Some parts of the system, such as time stamping of the contract, used the NEM test network, the company added. Bitflyer is Japan’s largest crypto exchange by volume. However, the exchange halted registering new users after receiving a business improvement order from the country’s financial regulator in June.

The Experiment

Japanese Company Trials BTC and Smart Contracts in Real Estate TransactionsThe experiment began with a seller listing a property to sell and a buyer looking for one to buy. The buyer then filled out an offer to purchase the property, which the seller confirmed.

“The buyer then sent the virtual currency (bitcoin) to the Ruden company’s virtual currency account,” the company described, elaborating:

As soon as Ruden (system) confirms the remittance of the virtual currency, we will execute the contract and [convert the] virtual currency to Japanese yen. In addition, a notarized sale [and] purchase agreement is promptly shared with [the] buyer and seller.

Other forms including the property registration application and requests to acquire other necessary documents are also automatically sent in order to execute the sale of the property.

Many Advantages Over Traditional Systems

Ruden then outlined many advantages it observed from the experiment.

Japanese Company Trials BTC and Smart Contracts in Real Estate TransactionsFor buyers and sellers, the company explained that using smart contracts and crypto payments makes it “possible to drastically shorten the time required” to perform each step of the process, including depositing money.

“Smart contracts eliminate the need for manual work and conditions,” the company detailed, adding that “the time to negotiate and conclude can be shortened compared to the current work.” Furthermore, the system also reduces “trouble such as refusal” to hand over the property after payment has been made.

Overall, Ruden emphasized:

It is not only to improve the efficiency of operations, but also to prevent unforeseen circumstances.

In addition to building the two systems above, the company announced last week the establishment of an overseas subsidiary in Singapore for the issuance of its own token.

What do you think of using BTC and smart contracts in real estate transactions? Let us know in the comments section below.


Images courtesy of Shutterstock and Ruden Holdings.


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The post Japanese Company Trials BTC and Smart Contracts in Real Estate Transactions appeared first on Bitcoin News.

Bitcoin News

WPP Taps Company Veteran as CEO

September 3, 2018 |

The choice of Mark Read to succeed Martin Sorrell caps a monthslong search at the world’s largest advertising firm.
WSJ.com: US Business

TMZ

The Jonas Brothers’ Dad’s Company Files For Bankruptcy

September 1, 2018 |

The Jonas Bros are doing GREAT, but their father is having some serious financial issues. Paul Jonas’ company just filed for bankruptcy … TMZ has learned.  According to legal docs, obtained by TMZ, Paul’s New Jersey construction and real…

TMZ.com

ICE raid at Texas company nets more than 100 illegal immigrant arrests, officials say

August 29, 2018 |

More than 100 workers were arrested at a Texas trailer manufacturer Tuesday in a federal immigration raid.
FOX News