This will make an excellent alternative to escrow
One of the largest banks of Amsterdam – ABN AMRO has started service thanks to which clients will be able to receive the accounts with the application of blockchain technology as an alternative to conditional deposition.
By means of new company services to which trust client funds – brokers notaries, the exchanges, and other structures, will be able to contact directly the clearing bank by means of Blockchain.
The bank has assured that it accounts on the basis of a blockchain will manage to reduce considerably expenses due to the elimination of costs of control over accounts of conditional deposition.
FinTech Exchange – the exchange located in Amsterdam will become the pioneer among the clients who have used such type of accounts. The exchange provides to the organizations to work directly with investors and to sell the securities, and it is going to test service in February. The decision on start has been made after there were several important initiatives in the sphere of a blockchain from the Netherlands bank for the last few years.
The management has said that attempts to introduce such opportunity in the Torch application simplifying the operations connected with the real estate were made, uniting buyers, sellers, lessors, tenants and other participants of the real estate market in the uniform system.