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The Warsaw Voice » Other » August 21, 2018
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First Polish blockchain smart contract for commercial real estate
August 21, 2018   
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Robert Chmielewski (left) and Marcin Dyszynski
Polish start-up ShareSpace (www.sharespace.pl) has created in August 2018 the first office rent transaction in Poland based on blockchain technology.
ShareSpace is the marketplace that allows to find, compare and rent coworking or shared office spaces online, due to the analytical tools and standardization of all offers. The advantage of using blockchain in the lease process is not only transaction security. The whole operation is automated, so the office operator saves time and money on long-term negotiations. In turn, the tenant is able to find the right space and make a rent contract within a dozen of minutes.
“Most lease agreements on the real estate market are concluded in a traditional paper form. Until now, the parties have exchanged scans of signed documents, not seeing each other and with no possibility of checking the identity. This means that the contract could de facto be unjustifiable in case any of the parties turned out to be false. However, we strongly believe in this electronic documentary form, secured by the blockchain technology, because it allows full verification of both sides of the transaction “, says Robert Chmielewski, ShareSpace co-founder.
“The challenge of all marketplace online portals is a lack of trust, because neither side is able to rely on each other completely. We solve this by using blockchain technology. Thanks to it, we can guarantee the integrity of data and all files sent via the platform, because after adding them to the blockchain, they cannot be removed or changed. Both sides of the transaction can refer to a given document knowing that it is original and intact”, says Marcin Dyszyński, another co-founder of the platform.
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