Construction projects getting stalled for years and years, ownership issues cropping up the time of payments, land registry system full of corruption and inefficiency, lack of trust between the seller and the buyer, multiple legal and compliance issues; such issues have become far too common an occurrence these days, disrupting the property title system altogether. This is where Blockchain technology comes to the rescue. How?
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. The solution will also increase citizens’ confidence in the government and make the overall customer experience less cumbersome. Most importantly it will enhance data security and ensure authenticity of land records.