HM Land Registry is forming a partnership with Methods, a software company that will utilise Corda, the R3 blockchain platform, for the second phase of Digital Street, its innovative research and development project.
Methods will be working with Blockchain Digital, a team of worldwide experts from R3, and their greater network of partners. The organisations will provide their expertise in blockchain to HM Land Registry so that Digital Street can explore its potential benefits.
Digital Street will work with the industry to ascertain how the use of technology, such as blockchain, smart contracts, and distributed ledgers, could transform the land registration process and the way that property is bought and sold.
HM Land Registry Chief Executive Graham Farrant said that the goal of becoming the world’s foremost land registry for speed, simplicity, and open approach to data requires the Registry to remain at the forefront of technological innovation in land registration. By partnering with Methods on Digital Street, his organisation is coming closer to that goal, as it explores how a property industry blockchain can help it develop a better way to register land.