Swedish land registry is trying out blockchain as a means of proving ownership.
Sweden’s land registry authority, Lantmäteriet, has put blockchain’s promises of transparent and tamper-proof transaction records to the test by implementing a pilot system for recording property-related transactions.
The blockchain-based testbed, which concluded in March, followed Lantmäteriet’s proof-of-concept study in 2016.
“When we heard about blockchain and its supposed benefits, we wanted to explore whether this is an actual next-generation technology we could use for registries,” Mats Snäll, Lantmäteriet’s head of development, told Computer Weekly.
The technology for the project was developed by Swedish blockchain startup ChromaWay using a private blockchain – which only authorised parties can access – and a smart contract application to automatically manage the transactions recorded on the blockchain.