Sweden is now officially using the blockchain for land register entries

As has been reported, the land registry Lantmäteriet has recently begun to register land and owners via a blockchain.

It has been known since 2016 that Sweden is researching a blockchain solution. At the end of May the last test phase was successfully completed. Despite the advanced digitization of the land registry, the blockchain is to lead to significant efficiency improvements.

Specifically, this should save 100 million euros, which is due for bureaucracy and fraud each year. The fact that there is actually such a high savings, however, remains to doubt. In addition, the banks are also interested in the project, as mortgage brokerage can also be represented in the future via a blockchain. Accordingly, it is not surprising that two Swedish banks are involved in the project.

The land registry uses the blockchain from the Startup Chromaway. However, this is a private and not a public blockchain. From an institutional point of view, however, this step is quite understandable, since every institution would have the upper hand in Puncto influence and control.

Sure, Sweden’s blockchain technology is much less necessary than most other countries. Especially in the countries where the corruption is high and the land register entries are incomplete, the use of a non-manipulable blockchain solution would make sense. Accordingly, Sweden can serve as a model for the countries, which themselves can not provide the know-how.

Especially in Central and South America, where the need for a Blockchain land registry is certainly given, some countries are working on a blockchain introduction. Thus, Honduras and Brazil are known to follow blockchain projects in the direction.

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