information has long been used to show evidence of land ownership,
possession and claims. These registries are tasked with accurate
record-keeping so that rightful owners can be identified and fraud can
be prevented when land transactions occur.
landowners have had to rely on third-party intermediaries such as
government agencies to manage land registration information. With the
development of blockchain technology, however, its transparent and
secure online ledger system is able to bring greater efficiency to the
land title record-keeping process. Advancements here could prove
particularly valuable in many parts of the world where people are unable
to secure legal documentation of their land assets.
potential blockchain applications in this space, questions abound on a
number of different fronts: Is it feasible to manage property ownership
via a distributed system that doesn’t rely on trust? What sort of
logistical maneuvering would it require? And how best can we validate
and identify who the current landowner is?
blockchain offers a compelling case model for addressing these and other
concerns as it allows for landowners to be identified through the use
of public key cryptography. Moreover, when property transfers are
confirmed in this
Read more … source: TheBitcoinNews
Blockchain Technology and the Future of Land Registries