Diginex, a global blockchain solutions and financial services company, has entered into a strategic partnership with real estate platform TATERU (TSE: 1435.T) to provide data integrity services.
As part of this partnership, TATERU will integrate Diginex’s Data Integrity Solution into its existing real estate loan application process. The solution works by automatically recording all transactions pertaining to the exchange of documents and information provided by loan applicants on the blockchain through a corresponding hash that is stored on TATERU’s existing secure data storage infrastructure. All authorised stakeholders in the loan application process are granted different levels of access and rights to view and verify the authenticity of applicant information and their associated blockchain transactions. The immutability of blockchain records can help to prevent fraud, such as unauthorised tampering of documents and ensures the integrity of data throughout the loan application process.
Miles Pelham, Chairman at Diginex, said: “We are delighted to partner with TATERU and integrate our Data Integrity Solution into their business. Given that a typical organisation loses 5% of its annual revenue to fraud each year, we believe that ensuring the security of data will be a key trend for blockchain from 2019 onwards, a market estimated at $143 billion. We have created a suite of Data Management Solutions that focus on data security, data quality and data privacy for corporates and institutions.”
TATERU has also made a strategic investment into Diginex, to explore cutting-edge technologies and mutually expand business networks.
Katsuki Matsuzono, CTO at TATERU, added: “We are excited to partner with Diginex. Data integrity is a challenge for many organisations that procure data from multiple sources. Diginex’s approach to data security and integrity is aligned with our own and we are looking forward to working together as strategic partners in future.”