Xinyuan Real Estate Co. Ltd., an NYSE-listed real estate developer and property manager primarily in China and recently in other countries, has announced its new blockchain-powered real estate finance technology platform.

The platform was unveiled at the 1st China Financial Technology Conference held in Beijing earlier this month. As IBM's first blockchain cooperation partner in China, Xinyuan established the online platform that connects home owners with broad channels for financing opportunities, while enjoying the security, transparency and convenience afforded by IBM's blockchain technology.

"As the first real estate company to collaborate with IBM on its blockchain technology, we are very pleased to announce our real estate blockchain platform. This platform demonstrates our efforts to explore new opportunities in China's real estate market through strategic collaboration with leading companies and establishes Xinyuan as a leader in real estate finance technology”, Yong Zhang, Xinyuan's Chairman, commented. “Through the standardization and digitalization of the property appraisal process, we believe our platform can help revitalize China's real estate market by stimulating consumption, investment and financing activities.”

IBM is providing the blockchain and smart contract technologies, while Xinyuan is building the real estate information database, the property evaluation system, the transaction system and the risk control modules. Xinyuan expects the platform to be able to support various types of applications, including consumer finance, investment and financing as well as industrial finance, by connecting investment and financing institutions, credit bureaus and merchants.

In addition, the platform is also supported by the Industrial and Commercial Bank of China (ICBC) global credit blacklist system of corporations and individuals. It is currently in the close-beta phase and is expected to be officially launched in August 2016.

“We anticipate this platform will support our real estate development activities while also representing Xinyuan's strategic evolution from a pure traditional real estate developer into a more diversified, technology-driven real estate company with differentiated business segments and global operations. We look forward to providing our shareholders with additional updates about this platform in the future”, Zhang added.

At the event, Xinyuan and Tsinghua University PBC School of Finance also jointly announced the establishment of Xinyuan Real Estate Financial Technology Research Center, a collaboration designed to support the platform.