South Africa launches its first-ever blockchain-based property register

Techloy
Techloy
Nov 6 · 2 min read

South Africa is piloting its first blockchain-based property registry with about 1,000 properties, thanks to a partnership between the Centre for Affordable Housing Finance in Africa (CAHF), research consultancy, 71point4 and Seso Global, a blockchain property registry company.

According to Daniel Bloch, CEO of Seso Global, aside from creating an immutable record of who owns which house, the Seso platform facilitates and records transactions such as sales and transfers out of deceased estates and integrates with third parties who facilitate transactions, including mortgage lenders.

Cityviewer Screenshot, Khayelitsha. Source: Centre for Affordable Housing Finance in Africa (CAHF).

The blockchain solution allows property data to be stored in a decentralised, secure database that can be updated without any loss of historic data.

“For the time being, property owners will record these transactions at the Transaction Support Centre, a walk-in housing advice office created by CAHF and 71point4 located in the area. But over time, we will record transactions through the Seso app” says Bloch.

In the future, the property records would be integrated into the Deeds Registry when other impediments to transfer have been removed.

Techloy | African technology news and startup culture

Techloy is a digital publication covering technology and innovation in Africa, since 2008.

Techloy

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Techloy

Covering news and insights about innovation and technology in Africa. Get in touch: hello@techloy.africa

Techloy | African technology news and startup culture

Techloy is a digital publication covering technology and innovation in Africa, since 2008.

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