It’s important to have records for any kind of property and assets you own, but for an asset like real estate it is imperative to be easily able to prove your claim to the property. The existing property verification and transfer processes are slow, vulnerable to errors, opaque and occasionally corrupt. An Exonum blockchain can be used to create an entirely new process for property records, keeping data safe while giving a citizen improved control over their assets. Check out how an Exonum blockchain improved the land registry in the Republic of Georgia.
Exonum Blockchain: Your Platform for Trust
Issues Facing Property Ownership:
- Lack of transparency
- Risk of data manipulation
- Poor user experience and education
- Inefficient protection of owners' rights (e.g. in case of theft)
- Risks with transfer and sale fraud
How an Exonum Blockchain
Transforms Property Ownership:
Transforms Property Ownership:
- Property ownership records are stored in an Exonum blockchain, with ownership denoted by digital certificates
- Data is prevented from unauthorized, fraudulent changes due to the nature of blockchain technology
- It is an entirely decentralized, secure digital system, increasing efficiency and trust
- In the case of selling or transferring property, less time is needed to execute the transfer and re-register the property information to new owners – all while keeping a transparent history of transactions and changes to the property information.