Blockchain Technology Applications in Government

Blockchain For Land Registry

Blockchain has been a major attraction as an alternative system to the current land registration methods. It promises immutability, decentralization, transparency and trusted records of a wide variety. Many governments have started piloting Blockchain technology for their land registration system at different levels. A Land registration system can be described as a system that organizes and records the ownership of a title, facilitate transactions and prevent unlawful disposal. This system is relevant today because a growing population of the modern world is rapidly increasing in the last decades. Currently the estimated total worth of lands without any evidence of ownership valued at $20 trillion (Francisco, 2018). Hence land registration will grow and it is becoming one of the most important aspects of modern society. Governments have started exploring the advantages of Blockchain technology due to its ability to manage financial transaction, transfer asset and record keeping capabilities. Blockchain is a digital network which allow the storage of digital information across the network of computers. The decentralization of record by Blockchain makes it less vulnerable to corruption or human error.