This pilot blockchain implementation facilitates the transfer of ownership of real estate on the bitcoin blockchain. This solution leverages bitcoin's colored coin concept, to assign tokens that represent real world assets – in effect resulting in a “digital deed.”
This blockchain implementation facilitates the registration of land titles and validation of property-related government transactions. When it launched, this project covered land title registrations, purchases and sales of land titles, registration of new land titles, demolition of property, mortgages and rentals, and notary services