In the People's Republic of China, financial regulators have shown keen interest in blockchain projects despite having a contentious relationship with digital currencies. The use of Bitcoin and other tokens in China is not exactly prohibited, but it is considerably restricted. With regard to blockchain technology, however, the Chinese government wants to become a world leader, and this explains the rationale behind the following project: PropTech is a blockchain platform intended to provide housing market stakeholders with a paperless way of completing real estate transactions. Through a partnership between the Hong Kong Applied Science and Technology Research Institute and the Bank of China, fintech startup New World Development is preparing to roll out PropTech over the next few weeks; realistically, this platform will save buyers, sellers and real estate agents about eight hours while reducing operating costs for banks by more than 15 percent. In the most streamlined cases, mortgage lenders could reduce their overhead expenses by up to 60 percent when they close transactions on PropTech. Just like with existing property registrar systems, PropTech will serve a public records function, but it will also be configured in such a way to protect the privacy of parties involved as much as possible. The first user of this distributed ledger real estate system will be the Bank of China in Hong Kong. Within the next 18 months, developers expect to see PropTech used by 4,000 entities. The lucrative Hong Kong real estate market has been ripe for innovation for decades, but not much has changed in terms of purchase transactions over the last three decades. Both commercial and residential real estate transactions in Hong Kong involve exchanging considerable amounts of data, and this is a process that blockchain solutions can certainly improve. One of the most efficient functions provided by PropTech is the delivery of provisional purchase agreements to mortgage lenders, the current process involves several physical steps to validate the information and prevent fraudulent use; with PropTech, however, contract authorization and execution can be encrypted and securely delivered in minutes. For the time being, PropTech will not allow real estate transactions to be settled with cryptocurrency, but such an implementation will be easier in the future since a blockchain is already in place.