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Blockchain Technology

proprietors can transmit the land ownership legally to the purchaser without

requiring third-party authentication.

2. Reducing fraud cases

It is possible for imposters to pose as the vendor of a property with

expurgation software. In a blockchain land registry system, the seller can

upload the sale deed document with their digital signature in the blockchain

network, and this can be verified by the user whenever needed (Saranya et​.a​

l, 2019). Because of its incontrovertible property, the blockchain proves the

land owner’s title and prevents fake documents.

3. Transparency with smart contracts

The land registry takes several months for registration.By automating

verified transactions, smart contracts enablea simple and efficient process.

The ownership transfer processesare quicker than the process of the tra­

ditional system.Smart contracts makeupdating ownership simpler and

quicker, and the changes are stored on the blockchain.

4. Accuracy

5. Updates to the land registry records are automated, and there is less human

intervention, which reduces the probabilities of mistakes in the land regis­

try system.

Therefore, the blockchain platform for land registry mightassist asproof of own­

ership, presence, interchange and transactions.Blockchain maintains all kinds of

record keeping more efficientlywith the huge amount of publicly accessiblerecords.

In a digitalized land registration system using blockchain technology,

(i) Data are distributed, and these distributed nodes are connected via a net.

(ii) The record of transactions is transparent to the public.

(iii) The record of transactions is immutable in nature (not changeable).

Blockchain technology also has many features that lead to integrity, reliability and

efficiency in a digitalized land registration system.The architecture of a digitalized

blockchain technology-enabled land registration system is shown in Figure 5.1.

5.6.1  Actors of Digitalized Blockchain Technology-

enabled Land Registration System

The actors of a digitalizedland registration system using blockchain technology are:

1. Property holder or seller – A person who currently holds the property and

is ready to sell the property to buyers.

2. Buyer – A person who is ready to interact with the property holder to buy

their property.

3. Land document verifier– A person who has the authority to verify the land

documents and initiate the transaction.