Binance China and Xinyuan Group to Expand Blockchain Utility in Global Real Estate
Lucas Cacioli Jun 24, 2020 10:00
Binance China Blockchain Institute, the research arm of global exchange Binance has formed a strategic partnership with Xinyuan Group to further the application of blockchain technology in the global real estate industry—including New York.
Binance China Blockchain Institute, the research arm of global exchange Binance has formed a strategic partnership with Xinyuan Group to further the application of blockchain technology in the global real estate industry—including New York. Xinyuan Group is an NYSE-listed Chinese real estate company dedicated to the development of blockchain technology.
According to the official release, Binance China Blockchain Institute and Xinyuan Group are set to collaborate on a variety of projects ranging from scientific research, technological development, talent cultivation to project incubation toward the objective of accelerating digital transformation of the real economy.
“We are thrilled to partner with Xinyuan Group, one of the most progressive real estate firms in fueling the development of blockchain technology, and bringing forward innovative products, services, and business models,” said Mai Lu, Asia-Pacific VP at Binance. “Xinyuan Group has a proven track record of digitalizing real estate in a fully compliant way in the US while Binance has been leading the development of blockchain technology. By working hand in hand, we are confident that we will present more use cases for daily life and further grow the blockchain industry.”
Leveraging Xinyuan Group’s proprietary platform—Xbolt (Blockchain Operation Ledger Technology) and Binance’s ecosystem, the partnership will see the two companies will conduct collaborative research in multiple areas including blockchain, big data, fintech, artificial intelligence (AI) and other cutting-edge technologies, aiming to introduce research results with real impact and value.
Further strategies to support innovative startups and entrepreneurs include establishing a think tank, setting up a hub for fostering blockchain innovation, launching incubation programs, providing funding opportunities, and co-hosting various events to foster communication between opinion leaders and the global community.
Xinyuan Innovating with Blockchain
Xinyuan has been among the pioneering real estate companies to invest in blockchain in China. In 2015, Xinyuan invested in Beijing Rchain to scrutinize blockchain’s underlying technology, with the primary emphasis placed on the BAAS (Blockchain As A Service) platform.
Through X-Bolts blockchain, Xinyuan has developed suitable applications for the real estate sector, such as Conbow and Golden Bricks.
Most recently, Xinyuan Group launched UPRETS, a real estate digitalization platform empowering fractional real estate investment, helping accelerate formatting a regulated online marketplace where real estate ownership is digitalized and fragmented into small shares and traded all over the world. It is the first time such a platform was developed by a listed real estate company in which the company is pioneering in the field.
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