In line with an official press-release, the HM Land Registry recently declared that it’s partnering with blockchain company Methods, that plans to make on R3’s Corda framework to develop a platform ready to store land registration data and contour the method for purchasing or selling properties.
Dubbed Digital Street, the HM Land Registry’s analysis began last year once it earlier declared its upcoming project. Additionally for its desire to contour the buy-sell method, the agency aforesaid it hoped to store a lot of granular information employing a blockchain platform.
Earlier this week, in a statement by the HM Land Registry’s CEO Graham Farrant aforesaid that the agency aims to become the world’s leading land registry, citing efficiency, speed, simplicity along an open approach towards data as the areas of main focus he desires to excel at.
Adding further he mentioned:
“By operating with strategies on Digital Street we are taking another step toward our goal, as we explore how the new upcoming technologies including blockchain could help us to develop a quicker, less complicated and cheaper land registration process.”
David Rutte – R3 chief operating officer aforesaid that the corporate looks forward to work with the world’s most well-recognized land registry.”
Along with Farrant, he added that the technology has the potential to make transactions a lot more economical, and R3 would be working closely with the Land registry to turn this potential into reality very soon.