Sweden Tests Blockchain Smart Contracts for Land Registry
The government of Sweden is testing a system for registering and recording land titles that utilizes blockchain in a bid to digitize real estate processes. Lantmäteriet, or the Swedish National Land Survey, revealed today that it is working with blockchain startup ChromaWay, consulting firm Kairos Future and telephone service provider Telia on a proof-of-concept that investigates how blockchain tech could reduce the risk of manual errors while creating more secure processes for transferring documents. For the proof-of-concept, ChromaWay CEO Henrik Hjelte indicated that Telia’s technology....
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Authorities in Sweden have announced that the government is exploring the implementation of blockchain based land registry in the country. The use of blockchain based registries has now spread to Sweden. The European country may soon be implementing a new land registry based on distributed ledger. With the number of people around, it is hard to keep track of all the things they had ever owned. However, it is not that hard when it comes to land ownership. For starters, it is not easy to hide a piece of land, as it has to be under the sun where everyone can easily see. However, over a period....
Sweden could become the first country to have a blockchain-based land registry. A team of technology players is working with the country’s land registry on a system that could possibly go live this fall, according to Reuters. ChromaWay, a Swedish blockchain company, consulting firm Kairos Future, and telecommunications service provider Telia, have developed “proof of concept” demonstration of how the Swedish land registry would work. Blockchain Brings Benefits. The blockchain ledger can allow clearing and settlement on one database that provides an easier-to-use and more reliable system....
The Swedish National Land Survey (Lantmäteriet) recently announced that it is conducting trials of a system that uses blockchain technology for land registration. The project, if successful, could have a major a impact on how land deals are conducted. The Lantmäteriet, in partnership with Swedish blockchain company ChromaWay‚ consulting firm Kairos Future and telecommunications company Telia, developed the proof-of-concept of the technology that demonstrates how blockchain technology and smart contracts can make land registration more secure by minimizing the risk associated with manual....
Australia’s senate committee on technology and finance wants lawmakers to establish a national blockchain land registry. An Australian senate committee has published a report calling for a blockchain-based national land registry, better clarity over laws relating to smart contracts, and continued efforts to establish international standards for DLT.The Select Committee on Australia as a Technology and Financial Centre's second interim report offers 23 recommendations spanning blockchain, consumer data, and corporate taxation.Five recommendations deal specifically with blockchain and....
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....