A Land and Property Registry on NEM Blockchain – Landstead
Landstead is a land and property registry on NEM blockchain which enables users, specifically the government and the citizens to create records on an open blockchain system which can be made referenced and trusted by the involved and other parties.
How does Landstead work?
First, a citizen will have to register an account to be validated by the government. This could be in a form of online registration or personal show up in a government office.
Second, a government official will validate the account with proper verification e.g. citizen ID, Birth Certificate, etc. Only the government can create an account from Landstead and from there, the government will create accounts for citizens who have submitted registrations to them. That is the time citizens will have their own account. Also, the government can revoke citizenship if deemed necessary.
Third, using the same account the government will register a property using its unique identification and other pertinent details.
Fourth, the government will issue ownership of the property to the owner by linking the registered property to the owner's account.
Fifth, the citizen will verify his/her account and property ownership.
Lastly, the Notary will transfer ownership of the property from the previous to the new owner/s.
All of these processes are done in the Blockchain and are executed easily in just a few clicks. The platform is currently live for testing. Click here to try it out!.
You can also watch a tutorial to Landstead here:
Video Credit to the Landstead Team
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STOPWas Landstead not working with Swedish authorities on a land register pilot?