Is Title Registration a Valid Use Case of Blockchain - Or We Are Courting Disaster?
On May 22, 2010 programmer Laszlo Hanyecz paid 10,000 BTC for two Papa John’s pizzas. Today, this humorous anecdote is an integral part of the Bitcoin lore, but behind the veneer of playful naivety, it masks a more sinister truth. With projects under way in many developing countries to register property and people’s homes on the Blockchain, are we courting a disaster? If a sophisticated programmer is so woefully unaware of the value in such a newfangled digital asset, can we expect that a person new to the idea of Blockchain, and new to the idea of title itself, can hope to do any better?....
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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....
Blockchain real estate company Ubitquity has announced its first ever US pilot scheme through a partnership with Virginia-based Priority Title & Escrow. Partnership To ‘Help Legitimize’ Blockchain Deeds Transfer. Ubitquity’s first venture since its limited release in September sees it provide immutable original records through its....
The US government on Monday announced that it is auctioning the last remaining Bitcoins belonging to the now-defunct underground marketplace Silk Road. According to the US Marshal Service's (USMS) press release, the auction of 44,341 Bitcoins (nearly $1.5 million at press time) will take place on November 5 this year, from 8 am to 2 pm. The Bitcoins will be offered in 22 blocks: 21 blocks of 2,000 Bitcoins and 1 block of around 2,341 Bitcoins. The auction winners will be announced the very next day - on November 6. The agency further stated: "The registration period starts Oct. 19 and runs....
The US Marshals Service (USMS) has announced it will sell 44,341 BTC (worth approximately $10.6m at press time) in an online auction due to take place on 5th November. To be held from 12:00 UTC to 18:00 UTC, the six-hour auction, open only to pre-registered bidders, represents the final sale of bitcoins in connection with civil forfeiture actions taken against convicted Silk Road mastermind Ross Ulbricht. The bitcoins will be sold in 21 blocks of 2,000 bitcoins, with the remaining 2,341 BTC to be sold in a separate block. Winners, the agency said, will be notified on 6th November. The....