29.07.2021

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UN and LTO Network Unveil Blockchain - Based Platform for Land Rights Registration

UN and LTO Network Unveil Blockchain – Based Platform for Land Rights Registration

The United Nations (UN), together with the startup LTO Network, has introduced a blockchain-based “goLandRegistry” solution to help the government of Afghanistan solve real estate problems.

The solution will be demonstrated to the Ministry of Urban Development of Afghanistan this month. The project was developed within the framework of the UN “UN-Habitat” program aimed at sustainable urban development in Afghanistan.

The developers said that the blockchain-based platform will help solve problems that usually arise in slum quarters or temporary settlements, such as land grabbing, their irrational or illegal use.

According to the UN, more than 80% of land ownership in Afghanistan is not registered with municipal or state land administration authorities, and residents often do not have official documents confirming ownership of real estate.

The “goLandRegistry” system will be used to record data and issue certificates of ownership of real estate. This will allow land owners to independently verify the authenticity of such certificates using an open source blockchain-based tool.

The platform is based on a hybrid blockchain developed by the European startup LTO Network. LTO CEO Rick Schmitz said the hybrid solution will provide a decentralized exchange of data between stakeholders and allow for transparent tracking of records.

In addition, the system will simplify the transfer of property rights and the provision of loans for the purchase of land, as well as automate the payment of taxes. Maurizio Gazzola, Head of the Strategic Solutions Division of the United Nations Office of Information and Communication Technology, said that in the future, the digital land registry will be available for other countries.

Recall that this spring, the firm Medici Land Governance transferred to the blockchain cadastral registers in the district of Wyoming, to ensure the transparent conduct of real estate transactions. Last year, the authorities of Abu Dhabi also expressed their readiness to place the records of the cadastral service on the SmartHub platform, which uses the blockchain.