Blockchain-based systems in land registry, a survey of their use and economic implications

Abstract

In recent years it has been demonstrated that the use of the traditional property registry models involves the risk of corruption along with long waiting times. This paper points out the main problems of conventional models and makes a survey on new ones, based on blockchain technology, already being developed as proof of concepts by different countries. With the use of this technology in land registry systems, it is possible to improve the transparency of the processes as well as optimizing costs and time in the realization of these. To show the theoretic results of this study, it has been taken the Spanish land registry as a use case to compare them.