Indian State to Use Blockchain Technology Against Real Estate Fraud

Andhra Pradesh, a state in the southeastern coast of India with a population of over 45 million people, has taken arguably one of its most significant steps towards modernizing the way it administers its real estate.

The state’s government, together with ChromaWay (a Sweden-based startup that offers blockchain-based land registry services), will be implementing a blockchain system for its real estate registrars to tackle corruption and increase the system’s transparency.

According to J.A. Chowdary, the special chief secretary and IT advisor to Andhra Pradesh’s chief minister, approximately $700 billion in bribes were paid at land registrars in India. Many of these land acquisitions often lead to lengthy and expensive court battles.

The move by the government is just one more drop in the bucket consisting of entities that have reformed their cadastral systems using the same method and for the same reason.

Last week, for example, Ukraine’s State Land Cadastre had announced a move for land ownership records to be on a blockchain for farmland acquisitions in order to aid its fraud elimination efforts. Just yesterday, Dubai too marched forward with a similar solution for its land registry, announcing the project during a Middle Eastern technology event.

While some governments and organizations have become suspicious of cryptocurrencies, exchanges, and anything to do with blockchain, others seem to be embracing it. Dubai sets the standard for this, as it is rushing to digitize all of its administrative data so that it can run entirely on the technology by 2020.

The reticence to involve blockchain technology in administrative tasks is just starting to fade away, but that doesn’t mean that governments will immediately hop on this bandwagon. The success or failure of these projects will surely determine how governmental organizations feel about implementing these solutions in the future.