- Sweden is planning to place real estate transactions on the blockchain once a buyer and seller agree on a deal and a contract is made. From there, all parties involved in the transactions — banks, government, brokers, buyers, and sellers — are able to track the progress of the agreement once it is completed, enabling instantaneous confirmation of valid transactions with the utmost levels of security and integrity.
- Sweden’s Blockchain land registry trial has concluded its second stage with the successful deployment of smart contracts.
Lantmäteriet, the country’s authority for land ownership, has partnered with two banks and telecommunications operator Telia on a Blockchain implementation which research suggests could save the taxpayer $106 mln per year in costs.
“The end result is a secure process for real estate transactions and mortgage deeds,” results published last week report.