A Blockchain Supported Model for Secure Exchange of Land Ownership: An Innovative Approach

Abstract

Due to the duplicity and inefficiencies in the current land registration system, the land records are not secured, and citizens face the brunt of this. Similar to this, thousands of people are dealing with this situation. Fraudsters use numerous faults in the current property registration process to swindle both the public and the government. The implementation of a secure land registration using Blockchain and majority consensus is examined in this study. The adoption of Blockchain by the land register significantly lowers security issues. Since each block is linked to the hash of the one before it, each block’s hash value will be unique. It uses a hashing algorithm known as SHA256. The security of the data linked with each transaction is improved by the Proof of Work (PoW) method with SHA256. Each hash in the message digest is fixed for all the blocks and represents the complete collection of transactions contained in these blocks. The responsibility for mining new blocks, chaining with existing Blockchain and validating transactions falls on a node. Hashes are used to link transactions together via merge trees, which requires less storage. Thus, a 99% decrease in the human record-keeping effort is offered by the suggested usage of Blockchain for land registration.