Blockchain in Real Estate
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The document outlines the impact of blockchain technology on the real estate sector in India, highlighting challenges such as inefficiencies in land registration and the potential of blockchain to streamline ownership transfers and improve data security through immutability. It discusses the application's characteristics, such as smart contracts and transparency, and emphasizes the benefits of decentralization for enhancing financial inclusion. Birthvenue, a blockchain-as-a-service provider, aims to educate and assist organizations in adopting blockchain through tailored solutions and regulatory support.
Blockchain in Real Estate
- 1. Blockchain in Real Estate By BirthVenue
- 2. PRESENTATION OVERVIEW KEY TOPICS Real Estate's Impact on Economy Challenges Characteristics Blockchain Applications Blockchain for Land Records Power of Decentralisation Practical implementations Sample Property Transaction About BirthVenue Contact Us
- 3. SIGNIFICANTROLEININDIAN GOVERNMENT’SSTATEDGOAL OFTRANSFORMINGITINTOA $5TRILLIONECONOMY 6-7% OF INDIA'S GDP IS CONTRIBUTED BY REAL ESTATE 15million JOBS WILL BE CREATED IN REAL ESTATE BY 2022: ECONOMIC SURVEY
- 4. The land registration process is still mostly complicated and inefficient in many parts of India COMMON CHALLENGES: TIME DELAYS FRAUD HUMAN ERRORS INCOMPLETE AND INSECURE PROPERTY DATA UNNECESSARY THIRD PARTIES
- 5. CHARACTERISTICS OF BLOCKCHAIN Creation of data records that are permanent (cannot be changed or deleted, only appended). IMMUTABILITY Every entry created in the blockchain is securely tracked with a time- stamp TIME-STAMPING All participants may have access to view the data on the chain or to add data (depending on granted permissions). ACCESSIBILITY Algorithmic logic which automates transaction based on pre set conditions SMART CONTRACTS
- 6. BLOCKCHAIN APPLICATIONS DISRUPTING THE REAL ESTATE INDUSTRY Transfer and registration of ownership or titles Virtual notarization Surveying/appraising
- 7. All property record creation and changes are entered in the immutable ledger along with digital signatures of the authorized officers WHY USE BLOCKCHAIN FOR LAND RECORDS? QR code-based property ownership Blockchain Certificates to citizens Geo-fencing capability to identify overlaps across plots Capability to integrate with property tax system to enable simple, efficient and transparent record of ownership and tax transactions on a given property Capability for instant data exchange through Smart Contract powered Data- as-a- Service (DaaS) API calls Building Permissions, Layout Permissions, TDR Bonds are blockchain secured along with the Land Pooling Scheme data-sets
- 8. Illegal systems can thrive when there is improper handling of land registry in the banking, financial, and government systems.
- 9. THE POWER OF DECENTRALISATION AND UNIFICATION INCREASES FINANCIAL INCLUSION AND PRIVACY ORIGINAL RECORDS REMAIN SECURED ON A BLOCKCHAIN TRANSPARENT HANDLING OF OWNERSHIP/TITLE DISPUTES INCREASES LIQUIDITY OF ASSETS
- 10. PRACTICAL IMPLEMENTATIONS IN INDIA RAJASTHAN ANDRA PRADESH
- 11. HOW BLOCKCHAIN STREAMLINES THE PROPERTY TRANSACTION PROCESS
- 12. WHAT IS BIRTHVENUE? Very few organisations know the real fundamentals of Blockchain, and even fewer have the requisite resources and talent to execute. However, what is true is that everybody wants to embrace it. Birthvenue is a blockchain-as-a-service provider. BirthVenue assists management teams in understanding the fundamentals of blockchain technology by creating industry-specific case studies as references to use cases. Our team of engineers develops elegant blockchain solutions and platforms to empower successful businesses into new technology spaces. Our lawyers on board will help clarify all regulatory requirements to make sure operations are within the purview of the law.