New South Wales (NSW) government is turning to blockchain technology!

For the real estate industry in Australia, NSW has made moves to consider introducing blockchain technology for all transactions.

With the state having ordered the digitization of all property transactions from July 1, 2019, NSW Land Registry Services – the operator of land titling and registry operations in the state – is launching a proof-of-concept (PoC) trial to gauge if blockchain is the best way to go, according to local news outlet CIO.

 

We are actually able to read some very logical points being made in all this, which may sound even more unbelievable, yet this is true:

 

The startup continued:

"It will provide a more complete and comprehensive view of land rights, restrictions, and responsibilities, which will streamline decision-making for government and land sector actors, provide increased information transparency, and reduce data duplication."

Allegedly! The NSW Government is looking into other potential uses for blockchain technology.

 

This is where I am falling off my chair here and will just give you the link to the source of this unbelievably FANTASTIC news!

Source: https://www.coindesk.com/australian-state-eyes-blockchain-upgrade-for-property-transactions/

 

You little ripper! Is all that can be said to end this news post!

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Posted from www.steemaustralia.org via SteemPress : http://www.steemaustralia.org/new-south-wales-nsw-government-is-turning-to-blockchain-technology/

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