Replacing the Government in Real Estate: Application of Blockchain Alternatives for Land and Title Registry
The governments of the world don’t have much interest in using the blockchain in the land registry and real estate markets. Will they come around? Would it provide a better solution than that provided by the government? It is a great undertaking to integrate Bitcoin and Blockchain technologies into the real estate industry. Our CoinTelegraph correspondent talked with the president of the International Bitcoin Real Estate Association, Ragnar Lifthrasir about the potential of Blockchain technology for development in the real estate industry. His team wants to create a digital alternative for....
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The use of bitcoin technology in the real estate industry has been one of the newer areas of development for the cryptocurrency these days, and Honduras has shown some progress in incorporating the blockchain in creating a registry for land titles. The country, which is one of the poorest nations in the Americas, has grapped with land title issues in the past. In particular, the land title database has frequently gotten hacked, allowing some bureaucrats to conduct fraudulent operations in securing properties. Bitcoin Technology Applications. Texas-based company Factom confirmed this....
Blockchain-based record keeping solutions provider Factom has officially stalled its Honduras land title registry initiative announced earlier this year, due to complex political issues and procedures. The company has communicated with policy experts and land title software developers to discuss the future of its project. “I’ve had humbling conversations with many smart people in the world of international land title including a CEO of major title insurance company, international policy experts, and companies that have built and sold land title software for decades. They all agree that....
Texas-based record-keeping service Factom has reportedly partnered with the Honduras government to pilot a program using the blockchain to record land ownership in the country. The trail will be made with the help of software company Epigraph, a title registry company building "next generation" solutions, based in Austin, Texas. As reported by Reuters, the Honduras government has agreed to use "a permanent and secure land title record system using the underlying technology behind bitcoin." The idea to use the blockchain to record land ownership in underdeveloped countries was a use case....
Dutch bank ABN AMRO has launched a blockchain application called Torch to help facilitate real estate transactions and exchange information. Developed in partnership with IBM, the blockchain application is a sweeping ledger that will be accessible by every party involved in a real estate transaction. Such as, buyers and sellers, landlords and tenants, ABN AMRO – as a bank, notaries, appraisers; the Land Registry Office and the Chamber of Commerce which is the country’s business register; as well as other regulators. Announced late last week, all of the above parties will – each in their....
Decentralized recordkeeping startup Factom has reportedly partnered with the government of Honduras on a new land title registry initiative. Reuters reported that the Texas-based company, in partnership with title software firm Epigraph, was working with the Honduran government to develop "a permanent and secure land title record system" using the bitcoin blockchain, the distributed ledger that tracks all bitcoin transactions. Factom president Peter Kirby told the publication that discussions with the Honduran government began earlier this year. However, the company first hinted at a....