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Article
Publication date: 6 July 2020

Oleksii Konashevych

Many recent social media posts and news may create a perception of big success in the use of blockchain for the real estate industry, land registration and protection of titles…

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Abstract

Purpose

Many recent social media posts and news may create a perception of big success in the use of blockchain for the real estate industry, land registration and protection of titles and property rights. A sobering outlook is crucial because misleading concepts may bury the whole idea of blockchain use. This paper aims to research the possibilities of blockchain and other distributed ledger technologies (DLT) and applicability of these technologies for different purposes in real estate, property rights and public registries.

Design/methodology/approach

This research is framed with policy studies and focuses on property rights, land registration regulatory framework and information and communication technologies innovations. The context of this paper is decentralization which has been developed in political science studies and the role of blockchain and DLT in it. Therefore, the provided analysis of blockchain and DLT is interdisciplinary research to interpret the facets of DLT technologies in the context of real estate and land title registration.

Findings

Permissioned and private DLT systems cannot be considered a significant evolutionary step in government systems. Blockchain, which is distinguished from permissioned systems as the technology of the immutable ledger that does not require authorities, is a new word in governance. However, this technology has some principal features that can restrain its implementation at the state level and thus require further research and development. The application of blockchain requires a proper architecture of overlaid technologies to support changes of outdated and mistaken data, address issues of digital identity and privacy, legal compliance and enforceability of smart contracts and scalability of the ledger.

Originality/value

This paper shows the constraints of the technology’s properties which were not explained before in the context of title rights and land registration even though technological limits are known in more specific technical sources. Along with the known benefits this meant to help to avoid misinterpretation of some DLT features by non-technical people. A multidisciplinary approach in analyzing the technology and laws helped to better understand what can and cannot be beneficial for public registries and the protection of property rights. The presented outcomes can be laid down as requirements for the technical protocols aimed at addressing the issues of DLT and public policies to put blockchain at the service of society.

Details

Journal of Property, Planning and Environmental Law, vol. 12 no. 2
Type: Research Article
ISSN: 2514-9407

Keywords

Article
Publication date: 29 October 2020

Oleksii Konashevych

The purpose of this paper is to present a concept of the protocol for public registries based on blockchain. New database protocol aims to use the benefits of blockchain…

Abstract

Purpose

The purpose of this paper is to present a concept of the protocol for public registries based on blockchain. New database protocol aims to use the benefits of blockchain technologies and ensure their interoperability.

Design/methodology/approach

This paper is framed with design science research (DSR). The primary method is exaptation, i.e. adoption of solutions from other fields. The research is looking into existing technologies which are applied here as elements of the protocol: Name-Value Storage (NVS), Berkley DB, RAID protocol, among others. The choice of NVS as a reference technology for creating a database over blockchain is based on the analysis and comparison with two other similar technologies Bigchain and Amazon QLDB.

Findings

The proposed mechanism allows creating a standard database over a bundle of distributed ledgers. It ensures a blockchain agnostic approach and uses the benefits of various blockchain technologies in one ecosystem. In this scheme, blockchains play the role of journal storages (immutable log), whereas the overlaid database is the indexed storage. The distinctive feature of such a system is that in blockchain, users can perform peer-to-peer transactions directly in the ledger using blockchain native mechanism of user access management with public-key cryptography (blockchain does not require to administrate its database).

Originality/value

This paper presents a new method of creating a public peer-to-peer database across a bundle of distributed ledgers.

Details

International Journal of Web Information Systems, vol. 16 no. 5
Type: Research Article
ISSN: 1744-0084

Keywords

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