Property registration is a legal procedure that aims to provide legal security to the acts and contracts that are carried out on real estate properties. It is carried out in the offices of the Property Registry where real estate properties are registered, as well as any type of charge or limitation that may exist on them.
Despite being a crucial task that provides security and confidence to investors and property owners, the property registration process is slow, expensive, and vulnerable to fraud and human errors.
Blockchain technology presents itself as an innovative and efficient alternative to carry out this process. In the case of property registration, blockchain allows the creation of a distributed database that enables the registration of real estate transactions in real-time and transparently, guaranteeing their authenticity.
Benefits of using blockchain
Intermediaries are eliminated, which allows for streamlining the process and reducing costs.
Reduction of fraud and errors
Fraud and errors are reduced, as blockchain technology allows for access to information securely and transparently.
No in-person procedures
The need for in-person procedures at the property registry offices is eliminated, allowing real estate transactions to be carried out completely digitally. This further streamlines the process and makes it more accessible.
Learn more about the application of blockchain in the real estate sector in the following articles: