The Netherlands Land Registry has stated that it will begin testing blockchain technology for national real estate data.
The Land Registry in the Netherlands is responsible for overseeing property ownership, mortgage rights and third-party data relating to the property market.
Enterprise architect at the Registry, Koen Huisstede, said that a fact-finding mission will be launched to establish how the technology can be best used within the industry. He stated that he anticipates a blockchain solution will be implemented within one to three years as part of a pilot program.
The project’s main goal is to improve the flexibility and efficiency of the organisation, which sets out to explore the legal, technical and governance aspects of the technology.
In addition, Huisstede also said that the Registry is looking into the use of artificial intelligence, and how it could be used within the workings of the organisation.
Whilst blockchain and its potential appear to be making waves across the globe, it’s relevance has recently grown in the Dutch context, with a national blockchain research agenda having been launched by their ministry of Economic Affairs and Climate Policy. In addition, a specialised unit has been launched by the government ministry, tasked with researching the future of blockchain within the industry on a legal, economic and ethical level.
It’s also worth noting that along with the UK, the Netherlands was one of the 22 European Union member states to sign a declaration to create a European Blockchain Partnership in April this year. This was with the overall aim of implementing blockchain throughout the EU, across a Digital Single Market.
That wasn’t the only EU blockchain initiative set up this year, with February seeing the EU Blockchain Observatory and Forum being launched by the European Commission. The main objective of this was to create a comprehensive repository of “blockchain experience and expertise”.