Land registration generally describes systems by which matters concerning ownership, possession or other rights in land can be recorded (usually with a government agency or department) to provide evidence of title, facilitate transactions and to prevent unlawful disposal. The information recorded and the protection provided will vary by jurisdiction.
In common law countries, particularly in jurisdictions in the Commonwealth of Nations, when replacing the deeds registration system, title registrations are broadly classified into two basic types: the Torrens title system and the English system, a modified version of the Torrens system.Cadastre and land registration are both types of land recording and complement each other. For example,Land registration is a matter for individual states in the USA. Thus each state will define the officials, authorities, and their functions and duties with respect to the ownership of land within that state, as is more fully described in the specified main article.
Old /conventional methods of tracking land
Keeping track of who owns which pieces of land or property is cumbersome when you have hundreds or even thousands of years of land records and the current systems in place are no longer effective. It’s common to encounter variations within the paperwork, including forged documents, counterfeit titles and, in some cases, a complete loss of all documentation. When these situations arise, it can lead to costly court battles between conflicted owners, both of whom believe they are the rightful owner of a particular piece of land or property. Land records are stored in a centralized database with no additional benefits other than being a paper registry
The Inter-American Development Bank Awards Builder of Chromia a Project to Develop Land Titling Solutions on the Blockchain in South America
The Inter-American Development Bank (IDB) has engaged ChromaWay on a two-year project in Bolivia, Peru, and Paraguay on an initiative titled “Distributed Ledger Technology (Blockchain): The Future of Land Titling and Registry.” The primary goal of the project is to evaluate how blockchain technology can contribute to solving some of the most pressing problems of land administration in South America.
ChromaWay will leverage its experience on closely related projects that include Sweden, Canada, India, and Australia. ChromaWay will also partner with Jalasoft, a leader in systems development and integration in South America.
ChromaWay will utilize full open source suite of relational blockchain-related technologies for the project. These include Postchain, blockchain ledger technology rooted in relational databases and Rell, the purpose-designed programming language for blockchain and smart contracts. In addition, the project can be deployed on ChromaWay’s public blockchain, Chromia, which leverages the same underlying technologies.
Summary
In summary, chromaway is changing the way we handle and deal with land registration through effective blockchain record keeping.Chromia platform is opened to all aspiring developers who are seeking to leverage on the platform to create quality decentralized applications.
Sources
https://blog.chromaway.com/chromaway-and-idb-south-america-land-registration/
https://modex.tech/using-blockchain-to-reshape-land-registry-and-property-rent/
Chromia
