Fantom, the DAG-based smart contract platform for real-time cryptocurrency payments, has just announced a strategic partnership with real estate firm Tosei. Managing approximately $5.5 billion USD in assets, Tosei will benefit from the application of Fantom’s Opera Chain to digitize and transform its services from the tracking of materials to the storing of property ownership contracts.
Tosei will connect Fantom with local businesses and corporations throughout Japan to introduce and accelerate the adoption of Fantom tokens across services such as real estate development, rental management, as well as funding and consulting services.
Fantom CEO Dr. Byung Ik Ahn said:
With cumbersome contract procedures, lengthy processing times, and concerns around transparency, there are many friction points within the construction and property industry. Blockchain, smart contracts, and DAG technology have the profound potential to ease and even address these challenges. The marriage between real estate and emerging technology is one of the strongest arguments for how decentralisation is not only a disruptor, but also an architect in building a framework for efficient ways of conducting end-to-end business.
A reputable presence in the real estate space, the partnership with Tosei exemplifies Fantom’s quest for meaningful uses of cryptocurrencies, tokens, and smart contracts in some of the most far-reaching industries. This partnership highlights our unified agenda of creating a more robust ecosystem as we present an easily accessible reality of blockchain – one that has been unmatched before now,” Dr Ahn added.
Commenting on the partnership, Tosei Corporation President and CEO Seiichiro Yamaguchi, added:
As we look to continuously improve and expand our service offerings, the need to innovate has become increasingly clear and adopting decentralized technology will help us achieve this goal. Our partnership with Fantom is a natural next step in accelerating each of our business verticals, allowing us to securely store contracts, track materials, and improve internal processes so that they are both efficient and cost-effective. We are excited to be collaborating with Fantom to help bring their next-generation technology to businesses and consumers throughout Japan and look forward to playing an active role in this technological revolution.
In addition to the collaboration with Tosei, Fantom has recently announced a partnership with Danfoss, a multi-billion dollar corporation and giant in the efficient energy and IoT infrastructure industry.