The use of blockchain based registries has now spread to Sweden. The European country may soon be implementing a new land registry based on distributed ledger.
With the number of people around, it is hard to keep track of all the things they had ever owned. However, it is not that hard when it comes to land ownership. For starters, it is not easy to hide a piece of land, as it has to be under the sun where everyone can easily see. However, over a period of time, as ownerships start changing it becomes hard to keep track of it unless there is some reliable form of record is maintained.
The distributed ledger technology, which happens to be the backbone of the digital currency, Bitcoin is an ideal option for maintaining the land records. Many countries are already looking into the technology to build land registry systems on the blockchain. Sweden has become the latest country to step into something similar. According to the latest announcement, the Swedish authorities have collaborated with ChromaWay – a blockchain solutions company based in the country, Kairos Future – a consulting firm and the telecom company – Telia to develop
Read more ... source: NewsBTC USA
Advertise on the Bitcoin News
Do you like The Bitcoin News ? Thank you for Support us !