How blockchain is helping transform India's realty landscape
Blockchain technology is gradually transforming real estate across the world by introducing transparency, security, and efficiency in property transactions. While still in its early stages, its application in land records management and property financing is gaining momentum, driven by the potential to reduce fraud and streamline processes.
However, the adoption of blockchain in India faces challenges such as regulatory uncertainty and the slow pace of digitisation. As these hurdles are addressed, blockchain is expected to significantly impact how real estate is bought, sold, and managed across the country.
What is blockchain and how does it work in real estate?
Blockchain is a decentralised digital ledger that records transactions across multiple computers. In real estate, it enables secure, transparent, and tamper-proof recording of property transactions, contracts, and ownership details. Blockchain's distributed nature ensures that once information is recorded, it cannot be altered without consensus, reducing fraud and enhancing trust among stakeholders.
How does blockchain improve transparency in real estate transactions?
Blockchain's immutable ledger provides a transparent and traceable record of property transactions. Every change or update in ownership is recorded and visible to all parties involved. This eliminates the risk of fraud, as every transaction is time-stamped and cryptographically secured, ensuring that all records are accurate and cannot be manipulated.
Can blockchain simplify property
