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13-05: Blockchain Technology and Land Administration: Legal and Policy Landscape
Blockchain Technology and Land Administration: Legal and Policy Landscape
The World Bank, United States of America
Land rights arguably represent the most important economic asset for billions of people around the world, and a critical source of livelihood, particularly in developing countries. Blockchain Technology has been heralded as a solution to long-standing land administration challenges.
Some of these challenges include but are not limited to highly uneven distribution of land ownership partly due to a lack of transparency, data integrity challenges, inefficient recording system.
The Blockchain is a digitized decentralized public ledger that contains records of completed transactions otherwise known as blocks. A copy of the ledger is kept by nodes that are participants in the network. Blockchain Technology is a reality today. There is a growing interest on the potential of Blockchain technology in addressing land administration challenges. However, the technology has been evolving largely unregulated. This paper will explore the legal and policy considerations on Blockchain technology and land administration