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October 10, 2017, 11:31:26 AM |
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The Indian state of Andhra Pradesh is partnering an industry startup to develop a blockchain for land registration to transparently track the ownership of property.
The government of Andhra Pradesh, a state in southern India, is working with Swedish FinTech startup ChromaWay toward a blockchain-powered solution to fix centralized, inefficient and often erroneous government databases storing property records.
“The current [recording] system is rife with corruption,” revealed special chief secretary IT advisor to the chief minister of the state J.A. Chowdary in comments reported by CNBC.
The government official added:
Fraud is rampant and disputes over titles often end up in court. Matters related to land and property make up about two-thirds of all civil cases in the country.
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