Dutch news agency Computable has reported that the national land registry of Netherlands is testing blockchain for real estate data management.
According to an official, Koen Huisstede, the government wants to explore what the much-publicized blockchain technology can do in property management. It expects to integrate blockchain solutions into the national land registry’s system within two or three years.
Huisstede pointed out the fact that governments were increasingly adopting blockchain, referring to the recent declaration signed into by 22 EU members to create the European Blockchain Partnership. The Netherlands is party to this partnership.
Earlier this month, the Ministry of Economic Affairs and Climate Policy was commissioned to research the national blockchain agenda. This was meant to explore blockchain’s ability to improve Dutch institutional governance.
The government expects to create a more organized and efficiently-managed registry to better oversee ownership, mortgage rights, and third-party ownership data. It is banking on blockchain’s enhanced legal and governance aspects to help it achieve this vision.
It hopes that the legal, land ethics and properties data management issues impeding the Dutch land registry from carrying out its mandate effectively will cease after “two or three years” when it adopts the blockchain solution.
Huisstede touts the significance of the blockchain tests, saying that they will provide valuable information to all property stakeholders. The obtained information will be seamlessly integrated into national property market for better investor decision, governance and property management. National reports also indicate that the land registry is attempting to use artificial intelligence in predictive data systems.
In other news, the highly profiled EU Blockchain Observatory Forum launched in February is ambitiously seeking to influence the creation of the world’s most comprehensive repository of the blockchain’s experience and expertise.
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