Blockchain application land register: Georgia and Sweden leading
Georgia is the first country to convert its land register to Blockchain. Sweden has also successfully completed its first pilot. How does land register work on Blockchain?
Georgia is a young democracy with a mortgage on geopolitical insecurity from its aggressive neighbor Russia and a history of state corruption. One of the starting points for illegal state actions are land titles. Who has control over the land title, can also manipulate the ownership of the country itself.
“The economist Hernando de Soto told us that only one third of all people can prove they own their land. Apart from the legal uncertainty, there is $ 20 trillion in dead capital, as land with unexplained legal titles cannot be sold, “explains Marc Taverner of the Blockchain company Bitfury. “So we told him, ‘Find us such a country and we bring the land register to the Blockchain for free. And that was Georgia. “
Blockchain is best known for the crypto-currency Bitcoin, but the land register is an even more useful application for the new technology. More than 300 lawyers are listening. Michael Taverner speaks at the extremely well attended…
