Securing land registration using blockchain
A blockchain-based approach to registering property titles could increase the efficiency of transaction processing and prevent property fraud.
Learn more about this use case
Proven ownership
Keeping track of who owns certain land or property is difficult when hundreds of years’ worth of land records are being stored on outdated systems. There are often discrepancies within paperwork, including forged documents, counterfeit titles and even a complete loss of documentation.
Problem
National Land Registry systems represent key assets for every government and a vital component of strong governance. Digitalizing this critical asset proves challenging in multiple jurisdictions, leading to massive losses and continuous fraud. Mismanaging the official registration and altering the validity of the land registry data leads to billions lost in taxes and fraud compensations.
Solution
Modex’s expertise in building strong data infrastructures aimed to solve complex problems through blockchain and system interoperability features allowed our team to design a simple and powerful solution aimed to revolutionize National Land Registry systems: an end-to-end functional structure that enables digitalization and prevents fraud by guaranteeing data integrity and trusted validation of key facts.
Benefits of blockchain
Scalable interoperability
Data can be shared among several entities in a secure and transparent way, enabling efficient collaboration.
Single source of truth
All documents and certificates will be verified and up to date for all authorized parties, reducing fraud and extra paperwork.
Security
Combatting data tampering attempts, data loss or system failure through immutability and real-time backup in a distributed data system.
