Skanska designed and implemented the blockchain-based digital service for real estate trading in close collaboration with Solita and Tomorrow Tech. Skanska’s service is the first of its kind in Finland and, possibly, the whole world. Skanska’s digital real estate trading service will open to customers in spring 2019.
Skanska’s digital service for trading real estate enables the reservation and even purchase of new homes completely digitally. Digital trading of real estate is based on a recent amendment in legislation which means that, from the start of 2019, all new Finnish housing companies will be established electronically, and printed share certificates will no longer be necessary.
“It’s great, and I’m very proud that we’re at the forefront of digitalising the real estate trade and making the buying and selling of real estate, and our customers’ everyday lives easier and smoother, by offering services based on the latest technology. Solita has been a competent partner in both the design and technical implementation of the service”, notes CIO Pekka Mutikainen, Skanska Finland.
Based on blockchain technology
Skanska is taking into use a new platform, DIAS, for digital buying and selling real estate. The DIAS platform was developed by the Finnish Tomorrow Tech in cooperation with banks. The DIAS platform is based on blockchain technology and provides a system for real estate developers, estate agents and banks, where information and contracts are transferred reliably in real time. DIAS enables automated data transfers and contract signings between the parties and, in the future, also the initiation of transfer tax payments and the application for the real estate’s owner data to be updated in the electronic real estate information system. Together with the electronic real estate information system, to be taken into use in spring 2019, this will enable fully electronic buying and selling of real estate.
“We warmly congratulate our customer – Skanska is a Finnish pioneer in the digitalisation of real estate trading on a global scale. Our team has been very excited about this project, as it makes people’s lives easier and smoother when buying real estate”, says Service Designer Antti Koskinen from Solita.
Solita is a Finnish technology, strategy and design company. We harness human understanding and smart technology solutions to improve the quality of life. We create new ways of operating and new services and technology solutions in order to develop companies and society. Solita employs almost 750 strategic consultants, service designers and specialists in digital services, AI, analytics and cloud computing in Finland, Sweden, Estonia and Germany.
Skanska‘s operations in Finland comprise construction services, residential and commercial project development, as well as life cycle projects for the public sector. The construction services include buildings, building services, and civil and environmental construction. At the end of 2017, Skanska Group had 2,086 employees in Finland.