Does Blockchain technology could be used for registration of land or property?

Artemis3

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Quote from: Greenkarki on December 30, 2018, 03:20:02 PM

Blockchain tech for buying and selling, Do you think this is a possible approach?

Pros and Cons after implementing this method across the globe. What would be the impact in the market?

I don't see why not. If you want to store records that nobody can to change later, blockchain is for you...
I think of it as a write only secure and decentralized database, tho it could be centralized by using few nodes but that would weakening its security significantly...

dr.hopkins

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I think this is a difficult and controversial issue. I would compare the blockchain with the Internet. This is something that everyone uses and at the same time has freedom. This technology can not belong to a particular country, because this is an idea of freedom!

Dondont

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Quote from: Greenkarki on December 30, 2018, 03:20:02 PM

Blockchain tech for buying and selling, Do you think this is a possible approach?

Pros and Cons after implementing this method across the globe. What would be the impact in the market?

the possibility of being used for buying and selling property seems unlikely because we know the buying and selling of different properties such as buying and selling in general, this requires such a legal letter and notary at the time of the transaction, for market ? i dont think it will give such impact

$anounimus$

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some developing countries and have good economic conditions have applied blockchain technology to record all transactions that occur even for property companies like that there are already several countries that use it.

CryptoToxicAvenger

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I think that blockchain technology can be applied in any field. And everywhere it will provide transparency and openness. This is its main advantage and therefore I think that it can be used for registration of land or property.

Stblcn

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The real estate sector is now aware how blockchain good is. so that, some real estate sector is currently using blockchain technology for land registration due to its ability to manage financial transactions, asset transfers and regulatory obligations.
The beauty of this system is that citizens engaged in buying and selling property will neither require any blockchain accounts or wallets nor will they experience a change in the way they currently interact with the land registry. The blockchain engine simply works quietly but powerfully in the background. Anyway, They should scrutinized this kind of system before it will be totally implemented all over the world.

bitfocus

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A few countries including china is using Blockchain for such service, Switzerland even tested Voting on Blockchain.

pieppiep

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before you have to be able to understand how to use blockchain technology and you need to know the function of the blockchain, while for simpler, this blockchain technology can be used to record very much data and can be seen by many people, but this data can save with a number of characters very much data. so that for recording land size and on behalf of landowners it might be implemented using blockchain technology.

qiman

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I know there are some blockchains being used for this. There is one in India called ZEBI chain, they are using this blockchain technology for everything, between land registry, police filing report and all kinds of data collection, gathered up in different states for different purposes. Dubai also has created it's electronic dirhum stable coin and is going to go totally on the blockchain, including the government itself is going to be on it. They will use the Blockchain as a public ledger for everything and I think their approach is good and dynamic in the way that it may delete corruption on a large scale and also reduce bureaucracy to the minimum. The more people and governments adopt this technology, the more efficient we will become.

Kakmakr

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I think one of the strongest reasons why the Blockchain must be used to record land ownership and title deeds, must be natural disasters. Lets say for instance a category 5 tornado hits a city or town or even a whole country and their archives of this information are destroyed, then proof of ownership of land will become an issue.

A decentralized data archive on a global scale, must be the best redundancy for natural disasters. Wink

It can be something as simple as a name and surname and ID number and satellite coordinates of the land owned by that person. Tongue

Yoo

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Yes, that is very possible. Blockchain technology can be used for registration of land or property.
I've heard Blockchain technology has been used in the education sector. In my opinion, all sectors can be developed with Blockchain technology.
In fact, many countries have begun to implement Blockchain technology. Yeah, I think Blockchain technology is a good development and can be applied in all sectors.

Argoo

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The blockchain technology is great where you need to keep large databases online safely using the Internet. Therefore, land registration, registration of land plots and data on their owners may well be used and are already used for access of citizens to this information. Many ICO projects use exactly this opportunity offered by the blockchain technology and even here the field for the implementation of this technology is very wide. It can also be not just databases, but any systematic useful information, especially if it goes beyond the limits of one country and is used for individual sectors and types, but on a global scale. Blockchain technology is perfect for combining and using any useful information on a global scale.

peter0425

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Quote from: Greenkarki on December 30, 2018, 03:20:02 PM

Blockchain tech for buying and selling, Do you think this is a possible approach?

Yes, it's possible might be some countries like China who are already working on it.

Quote from: Greenkarki on December 30, 2018, 03:20:02 PM

Pros and Cons after implementing this method across the globe. What would be the impact in the market?

Pros would be like accessible to everyone if blockchain is public. Data can't be altered or doctored.
Cons no more money to the wallet of corrupt public officials. lol.

umbara ardian

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This blockchain technology is used to record all data that occurs when making transactions, so when registering land and property it should be very suitable because it can record to the blockchain database and everyone can see it without anyone being able to delete or change it because it is a patent .

Ahab_Hunter_of_BearWhale

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Quote from: Irvinn on January 01, 2019, 12:51:01 AM

Quote from: Greenkarki on December 30, 2018, 03:20:02 PM

Blockchain tech for buying and selling, Do you think this is a possible approach?

Pros and Cons after implementing this method across the globe. What would be the impact in the market?

In my state (Ukraine) it is already implemented in practice. The data of the land cadastre, that is, the accounting of all land plots of the state and their owners is available online on the Internet and everyone can first see the information about any land plot and for a small fee can have a written extract from this registry. The blockchain technology in this case provides secure storage of large databases for online access.

This sounds like a great system, especially the fact that anyone can obtain a physical copy of the digital record system at any time. It would be interesting to try and encode say a private key, some way to have a printed record, like say a property deed operate similar to a paper wallet, where maybe the system only lets 1 physical version, or a limited number exist for a limited number/types of parties. That may help deal with forgeries, but might also bring in more questions about how to verify personal identification.

Ahab_Hunter_of_BearWhale

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The Factom blockchain (and company) is one of my favorite blockchain projects that has discussed operating as a land registry database/legal record. I'm not sure if they've started using thier blockchain for this, but an idea was - In many countries in South America corrupt government officials will reassign private land owned by individuals to themselves.

They've changed the land registry's of farmers, and then taken their land. Frustratingly when the farmers challenge the impostors legal claim to the farmers land, the Courts unfortunately often rule in favor of the corrupt politician that has stolen land for themselves or often their extended family.

(At least when I read about the company some time ago-) Factom plans to operate as a 3rd party land registry system. That way Countries where land is confiscated and the courts/officials prove they can't be trusted, a third party system, like Factom, can provide a trusted independent land registry/records system.

basyang

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Quote from: Greenkarki on December 30, 2018, 03:20:02 PM

Blockchain tech for buying and selling, Do you think this is a possible approach?

Pros and Cons after implementing this method across the globe. What would be the impact in the market?

Cryptocurrency has a limit too. Though it is broad to explain and its process is too still it has a limit to use. Personally, I do not think if it could be used for registration of land property unless if you convert your coins into your national currency and used it for registration or maybe it depends on their country if they allowed to used cryptocurrency for registrating.

Halmater

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Area of usage of bitcoin technology is limitless and it can be applied to any field. We will see and use many applications in the near future.

ribowo76

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Very likely, not even just the land sector. I believe, someday. There will be many sectors in our lives, which will apply blockchain technology

KingScorpio

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Quote from: Greenkarki on December 30, 2018, 03:20:02 PM

Blockchain tech for buying and selling, Do you think this is a possible approach?

Pros and Cons after implementing this method across the globe. What would be the impact in the market?

jes but you cant claim holding property over something just because its on the blockchain, it has to be supported, by a state or other military power so you have the legal backing that its your property otherwise you simply live of the mercy of others.

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