How blockchain bring disruptions in the property development industry?

Blockchain
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If you have ever visited your local Recorder’s Office, you are well aware of how inefficient and time-consuming registering property rights can be.

  • A physical deed must still be given to a government employee at the local recording office, where it is manually authenticated and entered into the county’s central database. Property claims must be reconciled with the general index in a property dispute.

  • This procedure is very costly and time-consuming, but it is also very much prone to human mistakes, with each inaccuracy reducing the efficiency of property ownership tracking.

  • Thanks to blockchain, scanning documents and hunting down actual files in a local recording office could be obsolete. Property owners can trust that their paper is accurate and permanently documented if it is kept safe and validated on the blockchain.

  • If a group living in such a region where there is no government or bank infrastructure but can use blockchain, property ownership can be traced back transparently and straightforwardly.