Global Property Register presents a blockchain based solution
If you are not a programmer but carefully follow all news about Bitcoin and other cryptocurrencies, then sooner or later you might come up with the question; “can I create my own cryptocurrency?”
Global Property Register presents a blockchain based solution to secure land and property rights and inheritance
Global Property Register is revolutionizing the way land and property inheritance and administration works around the world. With the help of the powerful blockchain technology that ensures the genuineness of property titles, the system also incorporates Artificial Intelligence and GIS(Geographic Information System). Future versions will include features like GPS(Global Positioning System). It presents an innovative, decentralized system where people will be able to enter their land registration information. This will prevent any other entity from claiming that property to be their own. In case a property registered on the platform goes uncontested, and following the required legal procedure, it will be assumed that they are the legitimate owner. Once titles are registered in this manner, ownership can be proven, and a whole host of options become available.
This will be the first and only land/real estate registry in the world to achieve this.
Global Property Register is here to overcome the shortcomings and issues associated with conventional systems. While in many countries there is no central way or a very expensive means to claim a title for your own property. In some countries, the poor are exploited by the rich who claim their rights on their lands and property by hiring lawyers and affording expensive documentation. It is important for a property owner to prove that they’re the owner or they can’t pass it on as an inheritance easily. In addition to this, when using the property as a collateral for the loan, the person will need to prove to the lender that they are the real owners.
The conventional systems are such that it sometimes becomes difficult for the landowners to have a proper register of titles. Even the World Bank has reported that only 30% of land rights are registered or recorded worldwide and in countries like Nigeria, less than 3% of land and property is estimated to be formally registered with the authorities. This is why Global Property Register becomes so significant in protecting the rights of the landowners by maintaining a global database of property rights. It is developing this blockchain powered decentralized system that will enable everyone in this world to enter their property information.
The system is being built to be affordable for most land and property owners in contrast to current conventional systems.
Once implemented fully, this system will create a security for those in ownership, and the option to improve their situation.