Blockchain Registers for Recording Ownership Rights Around the World

The use of blockchain to cement ownership rights for real estate and business has been ongoing since 2016, when the technology was first used to organize new forms of registries and registration of transactions.

The blocks are used to record information onto the blockchain system, which can then certify the process of transfer of ownership of the property or entity.

Thus, governments of different states are increasingly participating in, or encourage the creation of registries and are looking to record ownership through the blockchain.

One of the venture's projects was Medici Land Governance, which has been developing a global land blockchain registry since 2018.Medici Land Governance uses blockchain and other technologies to support land management, appropriation and administration through a reliable public registry of land ownership.

SwedenThe Swedish land-ownership authority Lantmäteriet began testing blockchain technology in 2016 in cooperation with telecommunication company Telia, consulting firm Kairos Future and blockchain company Chromaway.

Switzerland Swiss blockchain startup Proxeus joined with IBM Switzerland, Canton Zug and Swisscom in April 2018 to create the first register based on blockchain technology.

In April 2019, HMLR announced that the prototype blockchain was used to sell a house in Kent.The process, which included the sale of the duplex in Gillingham, Kent, was designed to show how to buy and sell a house as easily and quickly as possible by demonstrating a digital transfer of ownership.

In the future, blockchain will be used in interactions between the Rosreestr with the Foundation for the Protection of the Rights of Participants in Shared Construction, where property developers pay insurance premiums.

The representative of Rosreestr explained that a larger project for recordinging all Moscow's real estate transactions on a blockchain was also in the works, but is still being organized past its initial launch date of January 2019.FranceIn March 2019, IBM and the National Council of French Commercial Court Secretaries announced the development of a corporate registry solution based on blockchain technology.

BrazilIn April 2017, the U.S. company Ubiquity LLC announced that it is collaborating with the land registrar offices of two Brazilian municipalities by recording land ownership information on the Bitcoin blockchain.