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Blockchain's Solution to Properties and Land Records

Updated: Jul 13

Land registration entails gathering information such as ownership and property size. Currently, the entire process of land registry maintenance is very time-consuming because it requires the safe keeping of large volumes of written registers.

The main problem with the traditional method of land registry maintenance is that any future reference that needs to be taken from these hard copies will be time-consuming. These valuable documents might also get stolen or damaged as they are usually physical papers. Blockchain brings a solution with a secure land registry implementation using blockchain and based on majority consensus.

How does it work? Blockchain keeps a historical record of all transactions that have taken place across a peer-to-peer network. Because it is difficult to duplicate the blockchain, implementing a land registry using this technology aids in the prevention of illegal land transactions. It is easier to track the data transaction from the blockchain implementation as it eliminates the need for physical intervention. Each block in the network represents the data involved in a land transaction which includes details like property id, property number, owner details, transaction amount, mode of payment, and last transaction details such as the amount that has been paid for that transaction.

This technology keeps evolving. Every day we find new innovative solutions for the many multiple problems we have as a society, such as the global ID crisis. The solution of blockchain on properties and land records is now a reality, and will definitely play a key role in how we deal with properties and land registration from now on.

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