Prospects for application of blockchain technology in land administration

Abstract

Abstract The application of blockchain is associated primarily with cryptocurrencies, however they are used in various spheres of the economy. The issues of the application of blockchain technologies in land administration are not sufficiently developed theoretically, which makes this study relevant. Since 2016, the application of blockchain technologies in land administration has been at various stages of implementation in different countries (USA, United Kingdom, Brazil, etc.). A model for entering data into the land information system using blockchain technologies is presented: data from users are received and added to the blockchain, they are replicated and the transaction is verified, a block with a transaction is formed, which is added to the blockchain of all system participants. A national land market system with blockchain infrastructure can increase the likelihood of exporting to international markets as compliance with international standards becomes a transparent and undeniable issue. The use of blockchain technologies can increase economic efficiency and security, reduce the risk of uncertainty in achieving sustainable development of land matters.