In many countries, land registration needs to be more trusted and transparent. It can be difficult to register property when most land registries are corrupt. In addition, the land registration process is a contagious, multistepprocess that requires the involvement of all stakeholders affected by the registration.
Challenges Susceptible in Current and Record Title Storage System
Planned & created a proof-of-concept tool for future use based on successful land record registration models
Blockchain technology databases are cutting-edge compared to the current approaches and procedures for land title management and data storage. They can thoroughly address the problems that plague current systems. The essential and most important aspect of blockchain technology is that it is a decentralised network in which all other available nodes confirm all data supplied by a single node. Blockchain will save the shared only after a consensus.
We've developed a private blockchain for land registries to fix the problem. The real magic happens when you combine the power of blockchain with speed and transparency in all transactions. In addition, blockchain technology offers a decentralised environment that is more robust and secure than relying on a single authority, such as an administrator who can forge the database.
Integrating Blockchain
Technology in Land Registry
Fast - Streamline the process, and overall speed has improved.
Transparent – Adding blockchain to the process makes the process transparent, with all valid details intact.
Reliable -The data is now immutable and traceable, assuring its authenticity.
How Chaincode Provides Trust and Transparency
Blockchain will store the data after property records and documents are digitally signed or hashed on a blockchain.
Documents added to IPFS, immutable and decentralized storage.
The ledger is secured on the public blockchain, providing immutable and complete data to the public.
Record of Maintenance, upgrade, or TOA using dynamic NFT.
Blockchain will store the data after property records and documents are digitally signed or hashed on a blockchain.
Documents added to IPFS, immutable and decentralized storage.
The ledger is secured on the public blockchain, providing immutable and complete data to the public.
Record of Maintenance, upgrade, or TOA using dynamic NFT.
Benefits of Using Blockchain
in Land Registry
Complete Documentation
Records land titles with multiple owners and supervise the property's status.
Immutable Data
Availability of complete intact digital sales history and permanent record of transactions for the registered property.
Fraud Abolishment
Elimination of redundant sales and purchases.
User Interface
Improves user experience and encourages confidence in government
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