Smart Contract Application for Managing Land Administration System Transactions

Abstract

Land administration systems are of great importance for a large number of stakeholders. One of the key problems related to land administration systems is the problem of the correctness of their state, meaning that data stored in land administration systems are not in concordance with the actual legal, spatial and topographic situation. The main causes of land administration systems’ incorrect state are data collection and compilation, data processing, and data misuse. In this paper, we discuss the problems of data tampering, the long time needed for registering land administration system’s transactions, and the possibility of double spending, which all can add incorrectness in a land administration system. Our research is based on the hypothesis that these problems may be addressed by means of distributed ledger technology, or to be more precise, by means of blockchain technology. The solution is presented in a form of a smart contract written in Solidity programing language that can cover even those more specific use cases in land administration systems such as sharing of ownership, transferring part of ownership, splitting or merging of real estate, and limiting the possibility of trading a real estate. The proposed smart contract represents an implementation of a programming interface that was created based on both ERC-20 and ERC-721 token standards, to satisfy the specific needs of land administration systems.

Keywords

• Blockchain
• Ethereum
• land administration
• real estate
• smart contract