Bank of China and HSBC are among a group of lenders aiming to use the blockchain to provide quick property valuations for mortgage applicants in Hong Kong.
It will use the secure database capabilities of blockchain to provide quick property valuations for mortgage applicants in Hong Kong. At present, when customers apply for mortgages, the banks hire surveyors to value the property being bought. But as different customers shop around for mortgages, the same survey work is often conducted multiple times on the same property. Now, blockchain can be used to create a decentralised network of banks and surveyors through which the latest valuations can be listed, verified and shared — in a matter of seconds.
https://www.ft.com/content/c856787c-9523-11e6-a1dc-bdf38d484582