Hi community, we’ve just finished our grant project Blockchain Estate Registry in Ukraine (DEMO APP)
Project highlights
The Blockchain Estate Registry is an innovative initiative in Ukraine, aimed at revolutionizing land registry systems through blockchain technology. Currently in its nascent stages, our team has developed a demonstrative application to showcase to both politicians and society the potential benefits of blockchain in real estate. Central to our concept are ‘Title Tokens’, which form the backbone of the registry system. These tokens enable users to execute property transactions peer-to-peer, eliminating the need for intermediaries such as registrars and notaries. This fully digital approach promises a smoother, faster, and more secure transaction experience.
Go-To-Market strategy
BER is proposed to the Ukrainian government as an alternative private registry system (which is not a new concept around the world, for example Canada and Australia privatized their land registries), supervised by the government.
Our innovation will offer cost effective real estate transactions being an alternative to the current bureaucratic land registry office. Having the right to choose between these two systems, people will have an opportunity to enjoy the benefits of emerging technologies: smart contracts, DeFi, DAOs.
Blockchain Estate Registry (BER) is proposed to the Ukrainian government as an innovative private registry system. Private registries supervised by governments per se is not a new approach. For example, in Canada and Australia they privatized their land registries.
The BER system will offer a cost-effective and efficient alternative to the current bureaucratic land registry office. By choosing our system, people will have access to the advantages of emerging technologies such as smart contracts (self-executing contracts with the terms directly written into code), Decentralized Finance (DeFi) for more accessible financial services such as non-bank borrowing and smart mortgages, and Decentralized Autonomous Organizations (DAOs) for fractional ownership with enhanced governance and investment opportunities. This choice empowers users with faster, more transparent real estate transactions, leveraging the best of blockchain technology.
Monetization
BER is a fee based business. Users will pay commissions for their transactions with title tokens.
Status of the project
We partnered with the Ukrainian government and have developed a demo app. The next stage involves policy writing and adoption of new regulations.
Resources
Github URL assets-tokenization · GitHub
Canister URL DFINITY Canister Candid UI
Discord URL Discord
Twitter URL https://twitter.com/ber_blockchain
Demo app online: https://ber.kitsoft.ua/
https://ber.kitsoft.ua/ganache, chainId 1337.
Organization’s URL: https://virtual-assets.org/
Future Plans
Virtual Assets of Ukraine, a leading NGO in blockchain innovation in Ukraine, is set to collaborate closely with the Ukrainian government as outlined in our strategic roadmap. This partnership aims to develop and implement a new regulatory framework tailored to the unique demands of blockchain technology in Ukraine. Once this framework is established, our goal is to facilitate a creation of a fully-featured commercial application of the Blockchain Estate Registry. This application will revolutionize the real estate sector by introducing enhanced transparency, efficiency, and security in property transactions, leveraging the full potential of blockchain technology.
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