WHITE PAPER
HM Land Registry – towards a distributed ledger of regential title deeds in the UK
SHARE THE REPORT
WHITE PAPER
DLT & Land Registry
HM Land Registry – towards a distributed ledger of regential title deeds in the UK
SHARE THE REPORT
UCL CBT has co-authored a white paper with HM Land Registry and Mishcon de Reya on applications of DLT to Land Registry.
On 6 March 2019, the sale of a recently refurbished, semidetached house in Gillingham had completed. The conveyance process had taken 22 weeks to complete against an initial estimate of six weeks. When this transaction was executed on a DLT system, the transaction time was brought down from 22 weeks to just under 10 minutes.
UCL CBT has co-authored a white paper with HM Land Registry and Mishcon de Reya on applications of DLT to Land Registry.
On 6 March 2019, the sale of a recently refurbished, semidetached house in Gillingham had completed. The conveyance process had taken 22 weeks to complete against an initial estimate of six weeks. When this transaction was executed on a DLT system, the transaction time was brought down from 22 weeks to just under 10 minutes.
About the White Paper
On 6 March 2019, the sale of a recently refurbished, semidetached house in Gillingham had completed. The conveyance process had taken 22 weeks to complete against an initial estimate of six weeks. HM Land Registry’s Digital Street initative, Mishcon de Reya and a consortium of other parties, set out to explore how new technologies might improve the conveyancing process.
These parties built a distributed ledger technology (a broad umbrella of technologies that includes blockchain) prototype, built on Corda, that would enable a digital transfer of the property that automatically updates the Land Register. The project successfully completed in March 2019, bringing the transaction time down from 22 weeks to just under 10 minutes: click here to read more about HMLR’s Digital Street initative. Learn more about Mishcon de Reya’s Real Estate initatives here.
In this white paper, co-authored with HM Land Registry and Mishcon de Reya, we explore the technology underpinning the prototype, provide further detail as to the process and components involved in the HM Land Registry project, and look at some of the wider applications of distributed ledger technologies to the real estate and construction industries. These applications may have a real, disruptive and valuable impact on the sector.
In this white paper, co-authored with HM Land Registry and Mishcon de Reya, we explore the technology underpinning the prototype, provide further detail as to the process and components involved in the HM Land Registry project, and look at some of the wider applications of distributed ledger technologies to the real estate and construction industries. These applications may have a real, disruptive and valuable impact on the sector.