Last week Her Majesty’s Land Registry (HMLR)
announced its blockchain prototype had been used in the sale of a house. The UK government department aims to show that blockchain technology can make home buying and selling more streamlined.
The trial was developed and tested as part of HMLR’s ‘Digital Street’ program. Now in its second year, the research and development initiative has been exploring blockchain solutions for real estate. For instance, using smart contracts for a transparent, quick, and trustworthy sale.
HMLR aims to become “the world’s leading land registry”, says Lord Henley, a minister at the Department for Business, Energy and Industrial Strategy, partly “by embracing new technologies like blockchain.”
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