Land Ownership verification over RecordsKeeper Blockchain

 

For any high-value property (real estate, cars, art) it is important to have accurate records which could identify the owner. These records are used to protect owners’ rights, i.e., in case of theft, helps in resolving disputes, makes sure of whether ownership is correctly transferred to a new owner after the sale and helps in preventing sale fraud. Thus, it is necessary to maintain correctness, as well as completeness of this information to avoid unauthorized and fraudulent changes.

Currently, people have to rely on a trusted third party. E.g., a government agency might be responsible for keeping track of ownership information. Sometimes, these records are not preserved in a systematic way.Recordskeeper solves this problem completely, as it provides a complete way of sanctioning, approving and saving all sorts of asset information which can never be falsified or altered.

The current process for clearing a land deed is very complex and requires house buyers to hire a middleman to clear the land deed for them. This is a complete waste of resources, both human and monetary, to accomplish something that can easily be done with the help of a public blockchain i.e. RecordsKeeper. In addition to making the process a whole lot more efficient, registering land deeds on a public blockchain also ensures that owner information cannot be manipulated in any way, adding another layer of security for the homeowners.