Management Information System

LAB-1

Roll No : I068 Name : Harshita Rathore

Batch: - A3 Program/ Sem: MBA Tech-IT/V
Date of Submission: - 12-08-22

Topic: Block Chain

Digitalization of Land Records using Blockchain Technology

1. What is block chain?

Blockchain is a decentralised electronic ledger built on a P2P mechanism that
can be freely exchanged between users, each time stamped and connected to
the previous one [2]. Adding transactions creates a new block in the chain
(hence, the name). until updated[3].
Write-once, attach-many technology makes each transaction auditable.

2. What are the benefits of using Blockchain?

1) Accelerating the Process
Land registration intermediaries include information that cannot be accessed
or used in a property transaction. The blockchain land recording platform will
create a distributed database so anyone can record and access information. To
move land, you Sign, have notaries stamp it, and have the state fill out the
deed.

2) Reducing Fraud Cases

Today's digital world has editing capabilities that enable imposters to fabricate
documents and claim ownership of titles.

3) Bringing Transparency with Smart Contracts

Many individuals go there and buy land straight away. The loan or mortgage
process is significantly slower due to administrative issues, however intelligent
contracts streamline the method by automating controlled transactions.
With the blockchain land registry platform, you can create a decentralised
digital ID as a buyer or seller. By doing this, the ownership will transfer more
quickly and smoothly than it would otherwise [4].

3. IMPLEMENTATION OF BLOCKCHAIN FOR LAND REGISTERATION [1]

This study explores options for a blockchain-based land register. Upgrading a
blockchain solution to the current electronic land register considers the
blockchain's growing value. Blockchain land registry goals:

I. Faster land registration change of ownership.

II.Automatic land registry warnings or changes.
III.
Clearer land registry revisions. Register physical archives.
IV.Versatility Land registry agents' security improved Legal, operational, and
technological hurdles will be addressed. Definition evaluation
V. A blockchain-based land viability registry blueprint is implemented.
4. RESULTS OF THE IMPLEMENTATION [1]

This project will aid Land Records It's a decentralised, scalable technology that
eliminates intermediaries. Buyers can sign up at the Land Registry to present
the property, seek entry, and acquire the title. Buyers must input personal,
financial, and professional information to sign up for the app.
Buyers may seek [5] access to the smartphone data. Sellers can approve the
buyer's request. Seller may reject or accept applications. Once the seller
accepts the order, the buyer can see property facts. The buyer can see the
property's ownership history. The vendor sends an application to the land
inspector. The Land Inspector will install a new blockchain-verified land record.
This notion requires blockchain technology.

5. Advantages of Using blockchain for the proposed system[6]

A. Blockchain technology can help preserve clear ownership records,

transaction history, and multi-party transactions.
B. It could pave the way for "conclusive titling," in which the government
guarantees titles and compensation in ownership disputes.
C. Blockchain-based land title records reduce land transfer litigation.
D. This type of system can encourage corporate land purchases and
investment by facilitating land transactions and releasing economic value
and liquidity.
E. Real-time auditing and digitally signed, time-stamped documents increase
system transparency.
6. Disadvantages of Using block chain [7]

7. Conclusion: This study's major objective was to determine whether

integrating blockchain technology into the current land record administration
business process was a workable solution. In order to answer this question, a
survey of the relevant literature was done on the current business approach,
and it was through this study that we learned about the issues with the current
procedure. Then we presented our case for why we believe blockchain
technology to be the greatest option. The main focus of the thesis was on the
design aspect and performance assessment of the blockchain network, even if
we have created an application to emulate the existing land record process. [1]
8. REFERENCES

1) 2021 International Conference on Advance Computing and Innovative

Technologies in Engineering (ICACITE) Department of Electrical &
Electronics Engineering, Galgotias College of Engineering and Technology,
Gr. Noida, India “Digitalization of Land Records using Blockchain
Technology”

2) Blockchain nation records Vinay Thakur, M.N. Doja, Yogesh K. Dwivedi.

Tanvir Ahmad, Ganesh Khadanga. Land Titling Implementation in India,
International Information Management Journal, Sebastian Schuetz,
Viswanath Venkatesh, Blockchain, adoption, and financial inclusion in
India: Research opportunities, International Journal of Information
Management, Volume 52, 2020.

3) JOUR- Themistocleous, M.2018/10/01195 20, Blockchain technology and

land registry, 30, Cyprus Review.

4) Ameyaw, Prince & De Vries, Walter. (2020). land Transparency of Land

Administration and the Role of Blockchain Technology, a Four-
Dimensional Framework Analysis from the Ghanaian Land Perspective.
Land. 9. 10.3390/land9120491

5) Sebastian Schuetz, Viswanath Venkatesh, Blockchain: Study opportunities,

International Knowledge Management Journal, Volume 52, 2020;

6) Digitization of Land Records using Blockchain Technology,18 July 2022

Digitization of Land Records using Blockchain Technology - DeFi Planet
(Home of Blockchain, Crypto & DeFi) (defi-planet.com)

7) Disadvantages of Blockchain Technology, Featured Gwyneth Iredale on

April 17, 2020
Top Disadvantages of Blockchain Technology - 101 Blockchains