Zweispace announced its choice of Bitcoin SV (BSV) as its public blockchain just days before the start of the CoinGeek Toronto 2019 scaling conference. Despite a short timeline, CEO Hayato Kameta made his way to Toronto and took the stage to explain how his company is revolutionizing real estate, and why it chose BSV.
Kameta began by explaining that while Japan is an earthquake prone country, it lacks the necessary insurance that is typical of West Coast U.S. cities. Analysts expect that there could be as much as 1.4 quadrillion yen ($14 trillion) in damage if the big one hits.
For insurance to work though, insurance companies need to understand the liabilities of each building in the real estate market. That’s where Zweispace comes in. The company has been filing patents for internet of things (IoT) devices that can detect seismic activity and report it to a blockchain.
It also has artificial intelligence that can help analyze the possibility of earthquakes in a region over a period of time, but also help in designing new buildings. “After we accumulate cracking statistics, we can design the structurally well-safe buildings before we actually start the build,” Kameta explained. “And we insert the crack data and the historical shake data into the blockchain.” (3:56)
To accomplish their business plan, Zweispace has had to get their devices out into the world. To do so, they have worked with biggest construction companies in Japan to have IoT sensors installed in new buildings. They are also in talks to find global partners in Canada, Australia, USA, Europe and the rest of Asia.
As Kameta has previously explained, the company chose BSV as its public blockchain because of its adherence to local laws and the level of security it provided. He elaborated in Toronto that Zweispace also needed a blockchain that could scale massively to their needs:
“Last week, we announced that we’re going to insert not just into our private chain, for the public chains, we picked the BSV chain and our real estate portal site that I showed you contains about a million property data already, and pictures of over 1TB. So this is actually really big data. And also announced possible tokenization platform on Bitcoin SV.” (7:29)
The real estate market, not just in Japan but worldwide, is huge, and Zweispace is coming up with solutions that are sorely needed to help architects, agents and buyers to have the best data when making decisions. Now, it’s ready to scale and take on one of the biggest markets in the world. “Zweicoin is a real estate app token, and we will be tokenized on Bitcoin SV,” Kameta concluded. (9:31)
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.