As mentioned in our earlier posts, blockchain technology is being adopted not only by financial sectors but also other sectors too.
Here is a latest update aout Blockchain technology being used for land/plot registerations.
Sweden is all set to test its adoption to register land titles on blockchain.
This initiative has been taken by the Swedish Nationla Land Survey and a blockchain startup, christened, CHROMAWAY. The initiative is also supported by two banks which are into mortgages, namely Landshypotek and SBAB.
In the words of CEO of ChromaWay, Henrik Hjelte said that the testing would be done with respect to legal factors, business factors, and security factors related to land registeration. Public will be given a chance to test and experience the back-end and user interface of the system.
The system will showcase how the data will look if integrated with existing actual data and facts.
Various other agencies like regulators ,government organization and other related organizations will be invited to provide a feedback on the system with respect to legal,business and security factors related to land title registerations.
Well, lets hope this pilot project works well for Sweden and we witness blockchain as the emerging technology for future.
Keep in mind that we may receive commissions when you click our links and make purchases. However, this does not impact our reviews and comparisons. We try our best to keep things fair and balanced, in order to help you make the best choice for you.