Enhanced efficiency, collaboration, transparency and trust are some of the key claims of blockchain technology that are appealing to many industries, including the real estate sector. Land registries around the world (including in Sweden and the Republic of Georgia) are exploring the use of blockchain and smart contracts to enable real estate contracts and property records to be completed and monies distributed in an effective and timely manner. On Monday 1 October, the UK’s HM…
Propy, a California-based blockchain startup, announced that it is partnering with the city of South Burlington, Vermont, to use blockchain technology to record real estate conveyance documents. The goal will be to do away with hard copy registry altogether and enhance efficiency because, under the current system, it is necessary to drive to South Bulrington to do a title search. Of course, carried to its ultimate conclusion, if land registry records were entirely on the…