Metrovacesa signs up to Alastria to develop projects based on blockchain
3 mins reading time
8 May, 2018
Metrovacesa takes a further step in its commitment to innovation, positioning itself as the leading developer in knowledge and the development of initiatives based on blockchain
Alastria is the leading semi-public and multi-sectoral blockchain network in Spain, designed in compliance with the current regulation. The consortium is non profit-making and is formed of more than 200 companies, from startups to large corporations.
Madrid, 19 April 2018. Metrovacesa is the first real estate developer to sign up to Alastria, to develop innovation projects in blockchain. This technology has the potential to become the greatest advance in history after the internet.
Alastria is a non-profit making multi-sectoral consortium, in which more than 200 companies have got together to create a blockchain platform on which to develop applications in compliance with the legal framework.
Metrovacesa’s intention is to be a pioneer in the design of prototypes aligned with Alastria’s first use case, Digital Identity. This Digital Identity allows the creation of a safe and appropriate mechanism to find out about people, organisations and things using the network, which makes it easier to establish relationships with full legal effectiveness.
Metrovacesa is the first real estate developer to sign up to Alastria, to develop innovation projects in blockchain.
“Blockchain’s potential in the real estate sector is not limited to digital identity; this technology also allows greater speed and security in transactions, real-time traceability, the digital representation of an asset (a dwelling) with tokens to make investment easier, providing solutions for smart cities, and so on”, Carmen Chicharro adds.
Metrovacesa is firmly committed to carrying out its innovation projects with an open innovation model, combining in-house and external profiles, experts in the sector with technology startups, universities and prestigious architects.
Metrovacesa is the leading real estate developer in Spain. With 100 years of history, its main business is the development and sale of residential properties, complemented by the development of commercial projects and active land management. It currently holds the largest developable land stock in Spain, with a total surface area of more than six million square metres of buildable space, facilitating the development of 37,500 homes nationwide. Its gross asset value (GAV) amounted to 2,626 million euros as of December 2017. Its geographical scope is both unique and balanced, with a particular emphasis on certain large cities. It also operates in leading tourist destinations and smaller cities that offer great potential. The company expects to reach cruising speed in 2021, delivering 4,500-5,000 dwellings a year. Metrovacesa has a team with extensive experience in the sector and a workforce of more than 100 employees.
Alastria is a non-profit making association that aspires to provide Spain with the basic blockchain infrastructure, the ‘Alastria Network’, and the digital identity standard ‘ID Alastria’, which allows network transactions to be legally valid and thereby allow Spanish society to develop its own strategy. Alastria is a multi-sectoral consortium that has now been joined by more than 200 companies of all sizes and from all kinds of sectors. Alastria’s partners work together and compete in a ‘semi-public’ network, which has the fundamental tools to develop blockchain strategies designed for the distribution and organisation of products and services for the Spanish market.