Sweden is testing the possibilities to use Blockchain technology for real estate registry.
The Blockchain startup ChromaWay announced the launch of the Proof-of-Concept with a white paper and demo showing a new service that should make the process of real estate transactions easier and more secure.
Mats Snäll, Head of development Real estate registration at Swedish Land registry commented:
“The Swedish Land registry has become an authority in the forefront in Sweden. With this technology we will be able to continue to give support in foreign aid projects world wide. We are already involved in a project in Georgia with our fellow authority there. We support them in their work to enhance processes and establish real estate operations. Now they are also looking at a technical solution with the blockchain.”
Next, Swedish Land Registry, ChromaWay blockchain start-up, consulting firm Kairos Future and telecom service provider Telia plan to test Blockchain technology in a test environment and with real estate agents and banks involved.