Blockchain offers innovative infrastructure possibilities to private sector and government entities alike, providing end-users the opportunity to collaborate using a common digital ledger that securely shows transaction history and real-time records status.
Many land agencies have begun to look for cost-effective, secure technology for land registries. However, critical concerns about efficiency, transparency, and productivity need also be addressed. This search has led many land management leaders worldwide to blockchain, driven by several key benefits:
- Trust: Blockchain offers once and for all an unhackable public record, allowing all parties to enter into and complete transactions in good faith.
- Load distribution: Blockchain distributes storage across all participating entities.
- Increased accuracy and efficiency: Smart automation opportunities streamline common transactions and enhance accuracy by eliminating preventable human errors and/or manipulations.
- Continuity: Land record transactions are already kept in a chain. Key data is kept in a blockchain, allowing data integrity among all tabular data.
- True paperless potential: Paperless transactions could finally become a reality across all jurisdictions, lowering costs and furthering security.
Ultimately, each land agency has its own ecosystem and set of problems to address. Blockchain technology offers an intriguing opportunity to solve for today’s pain points while answering the call to modernize the land management function.
How blockchain can transform land governance
Most land agencies worldwide are looking to lower implementation and operational costs while providing the highest levels of data integrity, security and validation — all of which go directly to work solving land administration’s most pressing problems.
If blockchain is to be trusted as a transformative technology for land management, it must authoritatively address these three requirements. Fortunately, it is poised to do so, as we outline in our special white paper.
Though it addresses the necessary concerns of data integrity, security and validation, blockchain undoubtedly represents a fundamental shift in the way that technology is deployed to improve land governance. It also represents a change in the way governments must procure and utilize land information system (LIS) technology.
Join our blockchain pilot program
As a trusted partner to governments working to develop innovative land and property tax technology, we have already committed resources into blockchain technology and its practical applications in both the public and private sector. Blockchain is currently implemented on Aumentum Registry as a security layer, ensuring validation of stored registry data.
We believe blockchain technology will notably impact land governance in the coming years. This is why we have developed a pilot program to allow interested agencies the opportunity to partner with us in discovering how blockchain technology could both impact and improve day-to-day land management operations. We are seeking agencies interested in making their firms future-ready and whose priorities are security, transparency and validation. To learn more about our pilot program, please contact us.
Explore our in-depth digital report on blockchain’s impact across industries, and access our full white paper report, Blockchain technology: The future of better land governance.