Indian State In Blockchain Partnership To Monitor Land Ownership
A state in India is now collaborating with a Swedish startup to integrate blockchain into their land registry system.
Blockchain To Be Used In Monitoring Land Registry
The state of Andhra Pradesh in India has signed a deal with ChromaWay, a blockchain firm. The partnership involves a land registry pilot project that deploys blockchain technology. Blockchain will be used to monitor property ownership.
For years now, authorities have been looking into how they can integrate blockchain into a number of sectors. The deal with ChromWay is not the first partnership for the Indian state. Last month, the state entered another partnership with WISekey, a blockchain firm that deals with identity.
Across India, Andhra Pradesh is one of the jurisdictions that is looking into innovative technology to sort out land-related issues. The application of blockchain in land records has been cited as a potential use by a number of governments globally. Many believe that blockchain systems can enhance efficiency in the sector.
The partnership with ChromaWay is part of the region’s Fintech Valley Vizag program.
Once the project is complete, it will use blockchain on both the back end and front end of the web application. It offers open access to information on land ownership.
J. A Chowdary from Andhra Pradesh hailed blockchain technology, stating that it will drive the future. He pointed out that different global economies are set to undergo a revolution through use of the technology. The official added that we still have room for improvement since the entire potential of the technology has not been explored.