Blockchain Based Land Document Digitization and Secured Storage
Land related fraud is a huge problem in India. Many cases are reported about forgery and credit related frauds pertaining to land. Therefore we propose the usage of Blockchain and Smart Contract technologies to counter three major problems. One is to solve the problem of forgery that is each land document will be unique and no two owners can exist for the same piece of land. The second is to use the smart contracts for ownership transfer or in other words, the sale of land. Smart contracts work together with blockchain making the process even more secure and tamper proof. The entire process of sale happens digitally through smart contract capturing the terms of sale. Finally, we can counter the credit related frauds pertaining to the land by specifying a credit score for the land which dynamically changes with the credit borrowed, thus preventing the owner from borrowing loan that exceeds the value of land and also conceal any existing monetary liabilities.