Category Archives: Land Titling

Land Titling

GLOBAL BLOCKCHAIN REAL ESTATE ECOSYSTEM MAP 

An image or map of blockchain companies dedicated to the real estate sector was recently developed by a Spanish firm called Finnovating.

The map lists the various Blockchain initiatives around the globe.  While a few companies may be missing, it’s a comprehensive image readily showing activity in this sector.

As seen in the infographic, Blockchain applications are combined  with other technologies such as big data (3), property management (4), construction-tech (1), hospitality accommodations (3), marketplace and portals (6), peer-to-peer (9), record keeping/land registry (5), real estate marketing (2) ), property investment (21), smart cities (2), crypto (1), VR-AR (7).  Additionally, the ecosystem is made up of companies dedicated to the promotion, support and development of blockchain technology in the real estate sector through the organization of events (8) or the publication of news or training courses (4).

Land Titling

PILOT PROGRAM-REAL ESTATE TITLE TRANSFER ON BLOCKCHAIN – U.S. Cook County Blockchain Pilot Program Report

This unprecedented use-case study was completed in 2017.  It addressed several issues including:

  1. Can you legally transfer ownership of real estate on the bitcoin blockchain?
  2. Can a blockchain real estate title transfer be recorded in the government public records?
  3. Can you do both without needing special permission or partnership with the county government?

The pilot program was a consensus, volunteer effort with talented individuals and organizations who represented public and private stakeholders. These participants included;  velox.RE, Hogan Lovells Law Firm, leaders from the International Blockchain Real Estate Association, the Cook County Recorder of Deeds, law firm Goldberg Kohn and others from title insurance, the public notary sector and technology sector who lent their expertise for specific issues.

This report also addresses the fragmentation and centralization of land registry systems that produce many pain points stemming from inefficiencies and bureaucracies that blockchain adoption can eliminate.