Senior Manager – Group Strategy Office, Mahindra Group
The stage is now set for Blockchain technology to be the new game changer. Movable and immovable property registrations and transfers – real estate and vehicles – can be made as simple as transferring money using your mobile app. Blockchain provides features like provenance and smart contracts which simplify title search and paperless registrations respectively. To enable this, the Government offices will be part of an eco-system along with the buyer, seller, financier, insurer and builder/manufacturer.Once the buyer and seller raise a request, these participants can authenticate, achieve consensus and approve new registrations and transfers. Provenance can eliminate fraudulent registrations, payments can be made instantly using regular payment gateways and future taxes can be enforced using smart contracts.
If you have an interesting article / experience / case study to share, please get in touch with us at [email protected]