Published Paper Details:

An important technical advancement with substantial ramifications for the real estate sector is the adoption of a blockchain-based land registration system. This distributed ledger system is intended to completely record and securely retain every transaction that takes place during the complex process of purchasing land. Land registration has historically been a laborious and drawn-out process, complicated by paperwork, middlemen, and the possibility of mistakes. Blockchain technology integration offers a groundbreaking solution in this situation. The possibility of this blockchain-based technology to improve and speed up land ownership transfers is one of its main benefits. The transfer of land ownership from the seller to the new buyer is made substantially more efficient and transparent when the blockchain serves as the underlying infrastructure. All parties involved have a precise and impenetrable record of the transaction because every step of the process is immutably recorded on the blockchain. All stakeholders' trust is improved as a result of the increased transparency, which lowers the likelihood of disagreements and fraud. The advantages apply to a number of real estate ecosystem stakeholders. The land acquisition process is streamlined, affordable, and secure for both buyers and sellers, requiring fewer middlemen and shorter administrative processes. Those in charge of monitoring and approving land transactions, known as government registrars, can also benefit from this technology. They may use the capabilities of the blockchain to streamline their regulatory processes, cut down on administrative costs, and quicken the process of land registration. Additionally, the decentralized nature of the blockchain guarantees that data is resistant to fraud and tampering, protecting the integrity of land records. Because of this, the blockchain-based Land Registration system not only reduces the administrative burdens related to land transactions but also increases trust in the veracity and accuracy of property ownership records, ultimately improving the overall stability and effectiveness of the real estate market.