In most countries, keeping records of land holdings is a crucial task. However, it often turns out to be a highly mismanaged sector. Governments of all countries have observed the discrepancies in getting such work done manually. They are often erroneously done. They also need to be done repeatedly if the aim is to achieve accuracy and efficiency. There are many demands of the job and justified reasons for failure.
- The number of landholders who may have lost their papers or never got their lands registered is way too high. This issue is third-world-centric but exists in fractions in other parts of the world as well.
- For landholders who may be able to produce papers for their holdings, most of them are sure to be duplicated.
- The land titles are primarily unclear and do not help in land management.
- There is a high rate of forgery.
- Documents remain un-updated for years. Governments find it very difficult to keep up with the changes in land utilization and titles.
- Lastly, all this mismanagement leads to the loss of GDP. It also contributes to glaring instances of corruption.
What should be done by the Governments?
The kind of reliability, traceability, and accuracy that Blockchain technology has shown over the years, starting from the birth of Bitcoin, Governments worldwide should start taking it seriously. Blockchain has years of development to back its nomination. By adopting this technology, Governments will ensure transparency. This, in turn, will eliminate corruption. All records will be up-to-date. There will be no scope for fraud. Most importantly, Blockchain will ensure smooth and speedy processing and recording of data.
‘Blockchain technology,’ as the name suggests, makes use of a chain of blocks. On each block, data is encrypted. Multiple users across the world can access the blocks. This ensures speedy data inputting, as well as authentication at all stages. No one block can be altered without altering the others. Hence, alteration in the blocks is off the table. Without the consensus of users on the Blockchain can such an operation be made.
Even though Blockchain was introduced for the transaction of Cryptocurrency, Bitcoin, its scope of work will prove valuable in other sectors. www.immediate-edge.co is one such trading platform that reap the manifold benefits of Blockchain Technology.
Apart from financial transactions, Blockchain can be used for any work that requires transparent sharing of massive data among a wide range of users or requires maintaining and updating a record from time to time. From public health to land management, data needs to be tabulated. It is a humongous task for ordinary men to do. Blockchain provides an easy alternative.
Scope of Blockchain in Land Management
- Records will be easier to maintain since they will cease to be manual.
- There will be no tamper in records. The data in the blocks are irreversible.
- Data will be regularly updated since it will always be a work in progress.
- All Government officials will be granted access to this particular network to minimize corruption and fraudulence. Since the data will be accessible to all officials, the ones responsible for it will be answerable to the rest in case of discrepancies.
- The data remains secure from other individuals who need not be privy to the information.
- The tax could also be paid using Blockchain. It will automatically be recorded.
- It will take almost no time to settle disputes concerning land titles and landholdings.
Conclusion
The world is progressing at an incredible speed. Sectors that are unable to keep up with it are performing disastrously. Many public and private companies have adopted the use of Blockchain to make their work easier and speedier. They have come to terms with the fact that upgrading the technology at the workplace will lead to an error-free output. Once all governments start prioritizing quality of work, Blockchain will transcend into all spheres of the industries.
