Role of Blockchain Technology in Digitization of Land Records in Indian Scenario

Abstract

Blockchain is a way of passing data (such as records, events, or transactions) from one party to another in a very secure way. It is an electronic record of information that requires digital security. All data stored in the blockchain is immutable; once a piece of data enters into a blockchain, it is practically impossible to alter its value. The Blockchain has changed the model from a centralized way of traditional business to the decentralized model of the blockchain, that means there it can run without any central authority. It works on Peer to Peer Model rather than Peer-Mediator-Peer. The Blockchains makes the process easier, fastest, and trustworthy to deal with businesses as it follows Peer to Peer nature Blockchain. It has become the most used business model in different industries, such as construction industries, as it is the safest, fastest, transparent, and it also is more comfortable to implement. The critical feature of the blockchain that makes it today’s most potential technologies are: decentralized, self-control, peer- to- peer relationship, fixed record and time stamping. Thus, this chapter focuses on the pivotal role and application of BlockChain technology on the digitization of land records of the Indian Scenario.