Land Registry kicks off £2m blockchain experiment

Written by Sam Trendall on 2 October 2018 in News
News

Government agency picks partner to explore how distributed ledger technology could help deliver ‘faster, simpler, and cheaper’ services

HM Land Registry has kicked off a potential £2m-plus engagement with a blockchain specialist to explore how the technology could help improve the process of buying and selling property.

Six weeks ago, the non-ministerial government department awarded a research and development contract to digital transformation specialist Methods. The deal – which will be worth up to £2.25m if it runs to its full two-year term – will see the London-based firm support HM Land Registry in its ongoing Digital Street project.

Digital Street aims to examine how technology could be used to transform property transactions, by implementing digital services and contracts, and exploring the use of blockchain.

Over the coming months, Methods will help HM Land Registry trial the use of the Corda blockchain platform manufactured by R3. 


Related content


The firm’s work with the government agency will be supported by Corda-specialised consultancy Blockchain Digital.

John Reynolds, innovation and delivery director at Blockchain Digital, said: “Digital Street and blockchain has the potential to synchronise and optimise the way all participants in the property market interact, from solicitors to banks, from surveyors to estate agents. Over the coming months, and in support of HM Land Registry’s commitment to open data and open innovation, we will be announcing a programme of innovation and collaboration events that enable the property eco-system to join the Digital Street community."

The Digital Street project got underway last year. The programme of R&D work is intended to explore how digital services and emerging technology could make conveyancing quicker and safer.

“Our ambition to become the world’s leading land registry for speed, ease of use and an open approach to data requires HM Land Registry to be at the forefront of global innovation in land registration,” said Graham Farrant, chief executive of HM Land Registry. “By working with Methods on Digital Street, we are taking another step toward that goal, as we explore how new technologies like blockchain can help us to develop a faster, simpler and cheaper land registration process.”

About the author

Sam Trendall is editor of PublicTechnology

Share this page

Tags

Categories

CONTRIBUTIONS FROM READERS

Please login to post a comment or register for a free account.

Related Articles

Government to investigate how local authorities use PSN
16 September 2019

Research will support ongoing efforts to drive migration away from legacy network

Full fibre goes live in the Outer Hebrides
3 September 2019

Rollout will provide five hundredfold boost in connection speeds for residents of Grimsay and Great Bernera

Tech firms should join a coalition of the willing to support interoperability for police IT
30 August 2019

Jessica Russell of techUK believes increased collaboration between the emergency services and technology partners could deliver improved public-safety outcomes

Related Sponsored Articles

The age of virtualisation
17 September 2019

After more than 20 years of stability, networks are going through a period of dramatic transformation. BT looks beyond the hype at the real benefits of virtualisation.

Digital Transformation: Connecting and protecting with perfect predictability
10 September 2019

How can you stay ahead in the fast-paced world of digital technology? BT describes how it's a matter of focus... 

How to stay ahead of a changing threat landscape
3 September 2019

The security threat landscape is confusing and changing rapidly – there’s so much out there, how do you understand where the true risks are? BT offers insight from their own experience

The cyber security skills challenge: Hiring for tomorrow
27 August 2019

Organisations must alter their approach to cyber security recruitment in order to combat the global shortage of security professionals, writes BT