Netherlands Is Testing Blockchain For Real Estate

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Blockchain technology will be tested by the Netherlands’ Land Registry for national real estate data. The institution is looking to understand what blockchain can provide for the property sphere. A ready blockchain solution is expected to be integrated into Land Registry’s system within “one to three years.”.

According to Koen Huisstede of the Land Registry, the institution is also experimenting with artificial intelligence (AI) for predictive data systems.

The Land Registry is handling the ownership, mortgage rights and third-party data related to the national property market. It’s looking to become an organisation, which is “more flexible and agile”, which is why it is currently looking into the tech, legal and governance aspects of blockchain.

Blockchain in the Netherlands

Dutch Ministry of Economic Affairs and Climate Policy launched a national blockchain research agenda earlier this month. The ministry has created a unit which will research the blockchain’s future within the Netherlands.

The Netherlands is one of the 22 EU countries, which recently signed a declaration to create the European Blockchain Partnership. The partnership will help the member states cooperate on “the launch of EU-wide blockchain applications across the Digital Single Market for the benefit of the public and private sectors”.

 

Do you think that Blockchain technology will be useful in the real estate industry? Share your thoughts in the comments below!

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