Multiple different stakeholders take part in this repetitive process. Think of buyer, seller, notary, banks and insurers in the real estate ecosystem are very time consuming and inefficient exchanging data and documents..
As the certificates are paper-based, they are prone to manipulation or stealing. Furthermore, in a less well developed country, it has a higher threat urgency.
With many stakeholders that produce unstructured data, much paperwork is created on these repetitive processes using faxes, email, and phone calls.
Effective land management with clear land rights, restrictions, and responsibilities.
Strategic urban planning to establish a common vision and guide public investments for an inclusive and prosperous urban future.
Improved municipal finance and governance, citizen engagement and representation.
LTO Network is a fully decentralized and highly efficient blockchain infrastructure that is easy to integrate in existing systems that brings efficiency and is production-ready. Blockchain ensures data integrity and immutability following from the devices.
By using Live Contracts, data can be automatically distributed to different stakeholders and systems to facilitate land-registry transfers, tax automations, provision of credit, etc, making them unprecedentedly efficient.
With LTO Network, you don't have to change the entire IT infrastructure or develop a new system from the scratch. The existing systems and applications are made in a way that it can be used as a template, with minor tweaks and forks this system will be ready to use for any third party.
LTO Networks distributed data processing allows for unparalleled efficient data exchange between stakeholders.
Unstructured data is shared between participants on a contract through ancient communication methods, causing lots of data re-entry.
UWith the use of blockchain anchoring, it is possible for data to be hosted on-premise and managed by an IT department, but guarantee data integrity simultaneously. Anchoring is an act of storing hashes, providing a publicly verifiable timestamp and making data tamper-proof.
Files can be tampered with, which decrease the data integrity. Current centralized systems are more vulnerable for unauthorised access which can lead to the misuse of sensitive information.
Small paperwork will run on the blockchain, based on the predefined logic at the core of each process. All parties involved can participate in the process using their systems, as process data is automatically exchanged between these systems.
Traditionally working with and-registry transfers, tax automations, provision of credit, etc are a slow process that requires multiple parties to communicate back and forth which is very time consuming and more vulnerable to human errors.