Land Registry kicks off £2m blockchain experiment
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.
- MoJ talks up potential blockchain benefits for criminal-justice system
- Land Registry picks Kainos for single register of 26 million local land charge records
- Government approves first blockchain technology supplier on G-Cloud
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.”
Although big-ticket technology announcements were largely absent from the chancellor’s speech, the Budget contained a number of initiatives and investments in digital and data
PublicTechnology editor Sam Trendall looks at the public sector’s vexed relationship with failure
Eight companies have been chosen to receive £15,000 in R&D funds
West Midlands city signs partnership with auction site in bid to help local SMEs grow their business by selling online
With the annual worldwide cost of cybercrime set to double from $3tn in 2015 to $6tn by 2021, BT offers advice on how chief information security officers can better protect their...
BT knows that digital security isn't just about technology. It's about the partnerships, intelligence and expertise you need to stay one step ahead in the security race.
Keiron Salt, CIO Health at BT, makes the case for a more rapid digital transformation of the NHS
How can you ensure you get the best from your workplace transformation? Bear in mind these two key drivers, and you'll see the benefits of new technologies