I mean, sure further down the line maybe "bitcoin fixes this" , but right now, would we want 30 odd million land registry records (just for England and wales, imagine globally) stored on the BTC chain ? and given the amendments/requests/new records that would be required, would it be economically feasible, given the idea is to reduce costs........perhaps or perhaps one day it would? , I would not be against it at all... longest oldest chain etc.. but perhaps that would just be a waste.
Interestingly enough, I see that Bitfury, have already rolled out a system which is in use today in conjunction with the gubermint of Georgia which
does use
BTC in a fashion for real estate registry. (It uses a private permissioned blockchain to collect all the data and execute the tx, and then publishes it to the Bitcoin blockchain for public verification)
So far has 300,000 properties supposedly recorded in this fashion.
"NAPR (which is charged with land registry in Georgia) was able to provide Georgian citizens with digital certificates of their assets supported with a cryptographic proof (known as a hash). This hash was published to the Bitcoin Blockchain. This enabled the owner of the document to prove their legitimate ownership of the property by showing their timestamp. No one can alter the timestamp on the Bitcoin Blockchain, including NAPR.
Integrating this layer meant that information about a property title could not be altered, and that any attempted tampering would be equivalent to tampering with the Bitcoin Blockchain (making it publicly visible to everyone on the Bitcoin network)"
https://napr-gov-ge.translate.goog/udzravi?_x_tr_sl=ka&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=schttps://naprweb-reestri-gov-ge.translate.goog/?_x_tr_sl=ka&_x_tr_tl=en&_x_tr_hl=en&_x_tr_pto=sc#/blockchain--------------------------
On another note, I decided last year that I would really like to travel to the country of Georgia, and spend some time there, given the 1 year visa free entry, and the interesting cultural melting pot that Georgia is, cheap prices of rent/food/wine etc, and the quality of awesome food and wine, and stunning scenery..... and to explore the rather interesting taxation situation especially for expats and especially for Crypto related business activities
..... not sure if its rational or not, but the current situation in Ukraine has put me off/ made me postpone, does look great though.
Apparently the rents in Tbilisi have recently tripled for available properties due to an influx of 40,000+ Russians... though I do wonder if the rents have gone up ...just for the russians, as some of the houses I saw , are the same price now as they were pre the Russia/Ukraine situation.