Introduction of blockchain technology in cadastral and real estate registration
“Digital Trust” Digital Economy Development Fund and the State Committee of the Republic of Uzbekistan for Land Resources, Geodesy, Cartography and State Cadastre signed a memorandum on introduction of blockchain technology into the state cadastral and real estate registration.
According to the Investment Director for Technologies of the “Digital Trust” Digital Economy Development Fund B.Akilkhanov, many government institutions of Uzbekistan are facing a number of difficulties that arise due to the lack of monitoring systems and a single database. Where it is possible to change the initial information and where there is a human factor, there is always the likelihood of corruption schemes. This problem can be solved through the introduction of blockchain technology.
Since January 2018, the State Committee of the Republic of Uzbekistan for Land Resources, Geodesy, Cartography and State Cadastre has studied the advantages and opportunities of the distributed data registry technology in the state cadastral and real estate registration systems. To date, the terms of reference for the pilot implementation of this technology has been developed.
Introduction of blockchain technology is expected to ensure transparency of activity in cadastral and real estate registration and increase Uzbekistan’s investment attractiveness.
Roman Bondarchuk, UzA