A Blockchain Solution for Securing Real Property Transactions

A Case Study for Serbia

Bibliographic Data

ID22034331
AuthorsGoran Sladić (0000-0002-0691-7392, University of Novi Sad, corresponding author), Branko Milosavljević (0000-0003-4551-9802, University of Novi Sad), Siniša Nikolić (0000-0003-2294-024X, University of Novi Sad), Dubravka Sladić (0000-0001-5562-4556, University of Novi Sad), Aleksandra Radulović (0000-0002-7141-7626, University of Novi Sad)
Year2021
Volume10
Issue1
Pages35
Publication date2021-01-15
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueISPRS International Journal of Geo-Information (JOURNAL)
Journal identifiersISSN: 2220-9964 • E-ISSN: 2220-9964
PublisherMDPI AG (PUBLISHER • IT)
DOI10.3390/ijgi10010035
OpenAlexW3120688544
LanguageEN
Citations received7
References cited15

The origins of digital money and blockchain technology goes back to the 1980s, but in the last decade, the blockchain technology gained large popularity in the financial sector with the appearance of cryptocurrencies such as Bitcoin. However, recently, many other fields of application have been recognized, particularly with the development of smart contracts. Among them is the possible application of blockchain technology in the domain of land administration, mostly as a tool for transparency in the developing countries and means to fight corruption. However, developed countries also find interest in launching pilot projects to test their applicability in land administration domain for reasons such as to increase the speed and reduce costs of the real property transactions through a more secure environment. In this paper, we analyse how transactions are handled in Serbian land administration and how this process may be supported by modern ledger technologies such as blockchain. In order to analyse how blockchain could be implemented to support transactions in land information systems (LIS), it is necessary to understand cadastral processes and transactions in LIS, as well as legislative and organizational aspects of LIS. Transactions in cadastre comprise many actors and utilize both alphanumeric (descriptive or legal) data and geospatial data about property boundaries on the cadastral map. Based on the determined requirements for the blockchain-based LIS, we propose a system architecture for its implementation. Such a system keeps track of transactions in LIS in an immutable and tamper-proof manner to increase the security of the system and consequently increase the speed of transactions, efficiency, and data integrity without a significant impact on the existing laws and regulations. The system is anticipated as a permissioned public blockchain implemented on top of the Ethereum network

Blockchain · Business · Cadastre · Computer security · Land administration · Political science · 3D Modeling in Geospatial Applications · Blockchain Technology Applications and Security · Computer Science · Law

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