Chaincode Consulting

Land Leasing with Blockchain

Transforming land leasing with blockchain and smart contracts would provide significant automation, transparency, and cost savings.

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The current land leasing process is ineffective and antiquated. As a result, many landless households have been relying on informal land leases. The study found extensive use of this system throughout all countries. The land is usually under a fixed- rent price or sharecropping agreement. In areas of commercial agriculture practise, the land leased by affluent lessees from small landowners under a fixed-price rental agreement.

As a result, lessees cannot access various government benefits, such as subsidies or minimum support prices for agricultural products.

Resolving land registry disputes is often lengthy, with courts relying on incomplete paperwork from registries. Governments and companies worldwide are working to store data like assets and contracts in blockchains-digital transaction ledgers-to make progress on this issue. For example, blockchains have the potential to make the land leasing process much more efficient by providing a complete and unalterable record of all past transactions.

Challenges To Be Addressed

Blockchain can help by publishing all land registers online, eliminating multiple titles to the same land. In addition, blockchain in leasing transactions aims to transform and simplify the initial stages of signing lease agreements, lease payments and the subsequent property management process.

Integrating Blockchain
Technology in Land Leasing

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Blockchain-Based Property Search

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Activating the Multiple Listing System

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Using smart identities for cross-verification

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Integration of smart contracts for lease agreements

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Automated Payments and Documentation with a Time Stamp

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Real-Time Analysis

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Benefits of Using Blockchain
in Land Leasing

Transparency

From the initial purchase to the current contract, complete documentation of the property information will be freely available across the peer-to-peer network, increasing the reach of potential future stakeholders and maximizing transparency to avoid malicious activities.

Automated Process

Integrating smart contracts with automated payments will make the whole process mechanised, minimising the error of a manual process.

Immutable Information

The process will be more reliable and authentic as any governing authority cannot mutate the data embedded in the blockchain.

Cost Reduction

Automating each step will reduce costs on a huge scale.

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