Yesterday, Indian IT services firm Tech Mahindra said it is developing a blockchain solution for land registry in Abu Dhabi. The company has partnered with the UAE’s Department of Urban Planning and Municipalities to increase transparency and traceability of land records.
According to the UN, over 75% of Abu Dhabi’s population is non-Emirati. It is tedious to keep track of lease agreements, rental agreements and sale of land in such a demographic. Abu Dhabi aims to employ blockchain to reduce the time to process registry documents.
“The government and private sectors in Abu Dhabi are working together to achieve the digital transformation agenda led by the government. We believe in proactively embracing new age technologies and delivering better citizen experiences to the residents of Abu Dhabi,” said Ahmad Abdolsamad AlHammadi, CIO Abu Dhabi Municipality.
Tech Mahindra said it would integrate the blockchain solution with its SmartHub Application. It aims to streamline services such as buying property and verifying tenancy contracts.
All documentation will be stored on the blockchain, with access granted through permissioned nodes. The firm thinks the solution will be beneficial for citizens, banks, property developers and others associated with the Abu Dhabi municipality.
The UAE has been proactively adopting blockchain solutions for oil, financial and shipping sectors. A few months ago, the Dubai Land Department (DLD) released a blockchain-based mortgage platform with Emirati lender Mashreq Bank. Just last week, Korean blockchain firm Blocko launched in the UAE after support from the Emirates chair.
In the UK, Her Majesty’s Land Registry is also using blockchain for buying and selling houses.