Russia is ‘Considering’ Blockchain Tech for Real Estate

Russian authorities are looking into the possibility of registering real estate and housing projects on a blockchain.

According to a regional report, the Russian Ministry of Communications is considering the use of blockchain technology for agencies including the Federal Registration Service, a federal executive body that records registration of rights to real estate and all related transactions.

Speaking to reporters, Nikolai Nikiforov – head of the Ministry of Communications of the Russian Federation stated:

[W]e are considering the use of blockchain in the work of such agencies as the Federal Registration Service. Automatic real estate transactions, in particular, are considered as a pilot project for the use of blockchain in transactions related to equity construction and joint housing development.

A similar effort is already taking shape in Japan, where the government is looking to consolidate all real estate data into one viewable data record on a blockchain.

Source: Russia is ‘Considering’ Blockchain Tech for Real Estate

Sweden Officially Started Using Blockchain to Register Land and Properties – The Cointelegraph

Lantmäteriet, the land registry of Sweden, officially started to utilize Blockchain technology to register land and properties.

Since early 2017, various countries including Brazil have begun to utilize Blockchain technology to facilitate the ownership of land and properties in a decentralized, transparent and immutable network.

In an interview with Computer Weekly, Mats Snäll, Lantmäteriet’s head of development, revealed that the Swedish land registry has been actively investing in Blockchain technology and developing a proof-of-concept Blockchain platform since 2016.

In March of this year, Lantmäteriet completed the initial phase of trials of its Blockchain-based land and properties registry platform.

Snäll said:

“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. We have to try it on a wider scale and have more partners to see it also works with a larger number of transactions, but we haven’t come up against anything so far that argues against this technology.”

Source: Sweden Officially Started Using Blockchain to Register Land and Properties – The Cointelegraph

Sweden trials blockchain for land registry management – Computerweekly.com

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.

More at: Sweden trials blockchain for land registry management – Computerweekly.com

‘End Poverty, Restore Trust’: World Bank Dives into Blockchain with Lab Launch – CoinDesk

The world’s largest multilateral development bank is launching a blockchain lab as part of a bid to pilot projects that can improve governance and social outcomes in the developing world.

The World Bank, based in Washington, DC, officially launched the venue Tuesday morning to serve as a forum for learning, experimentation and collaboration on distributed ledger technology. The blockchain lab will now seek to bring together internal and external participants to work on blockchain use cases of significance to the bank’s more than 80 client countries.

Core focus areas will include land registry, digital identity, aid distribution and financial infrastructure.

More at: ‘End Poverty, Restore Trust’: World Bank Dives into Blockchain with Lab Launch – CoinDesk

UK Land Registry Plans to Test Blockchain in Digital Push – CoinDesk

The UK’s national land registry is looking to test blockchain technology as part of a wide-ranging digitization effort.

Last month, HM Land Registry began searching for new board members and, in a notice published to its website, also detailed its plans for a so-called ‘Digital Street’ – an upcoming scheme the office hopes will improve the speed and efficiency by which titles change hands.

It’s for this purpose that the Land Registry is eyeing blockchain as a possible solution.

What they’re doing: While the document itself is decidedly short on details, here’s what the office said in its note, which touches on some of objectives of the project (and hints at where blockchain may fit in):

“In order to meet Government commitments, Land Registry will need to become more digitized and customer-centric. In the near future, we expect Land Registry will begin a live test of a ‘Digital Street’ which would enable the ownership of property to be changed close to instantaneously. The Digital Street would also allow Land Registry to hold more granular data than is possible at present. Blockchain is one of the underlying technologies that will be trialled.”

More at: UK Land Registry Plans to Test Blockchain in Digital Push – CoinDesk

Why Sweden is Taking a Chance on Blockchain Land Registry – CoinDesk

Could the technology that powers bitcoin be adapted for land titling?

Sweden’s land registry authority, the Lantmäteriet, seems to think so, and has emerged as one of the first national agencies to put its faith behind the use case. While there is a steady stream of projects pairing blockchain startups with government agencies, the Lantmäteriet’s work is perhaps distinguished by the steady progress it’s shown so far.

Working with startup ChromaWay and consultancy Kairos Future, as well as the SBAB and Landshypotek banks, the Lantmäteriet has been testing whether private blockchains can serve as a means of carrying out property transactions since last June.

The goal, according to the authority’s head of development, Mats Snäll, is to reinvent the way land titles are registered.

He told CoinDesk:

“[We] saw that this process was quite conservative. It still consisted of paperwork and such things and [we thought] it would be a good idea to see if that kind of process was possible to change with the help of the blockchain technology.”

Source: Why Sweden is Taking a Chance on Blockchain Land Registry – CoinDesk

Georgia Records 100,000 Land Titles on Bitcoin Blockchain: BitFury – the cointelegraph

In April 2016, the Georgian government and the Bitcoin company BitFury initiated a project to record land titles on the Blockchain.

Following the project initiation, on Feb. 7th, 2017, in Tbilisi, the government of Georgia signed an agreement to use the Bitcoin Blockchain to verify property transactions.

And on 19th of April 2017, Valery Vavilov, CEO of BitFury during his speech at the Russian Internet Forum in Moscow, said, that since the launch in February 2017, when his company along with the government of the Republic of Georgia implemented the property registration on Blockchain had registered more than 100,000 documents.

Source: Georgia Records 100,000 Land Titles on Bitcoin Blockchain: BitFury – the cointelegraph