As part of HM Land Registry’s long-term project of looking at how innovative new technologies can improve the house buying process, Director of Digital, Data and Technology John Abbott has spoken exclusively to TechTalk Radio to discuss how the organisation is working with industry partners to maximise the value of its data and exploit future technologies like blockchain.
Talking to presenter Emily Wright, John said HM Land Registry, through its five-year Business Strategy and its Digital Street project, is at the forefront of global innovation in land registration and is working to develop new systems to ensure it achieves its ambition of becoming the world’s leading land registry for speed, simplicity and an open approach to data.
There are a lot of exciting possibilities in terms of what can be done with blockchain technology. We are looking into what could be done, and whether or not it should be done, through our innovative Digital Street project. All of our work, from exploring the potential of blockchain to investigating how to make the most of our datasets, is conducted in collaboration with people from across the property market – we want to make sure that HM Land Registry works for everyone.
Listen to the full interview at techtalkradio.podbean.com.
HM Land Registry’s ambition is to be at the forefront of innovation by exploring how land registration and conveyancing can be made easier and how technology and data could revolutionise the process.
Digital Street is HM Land Registry’s research and development project designed to make buying and selling property simpler, quicker and cheaper through the innovative use of technology. Now in its second year, the project is exploring the use of blockchain technology and smart contracts to bring greater transparency, speed, and trust to property transactions.
The project has already created a digital register for a small selection of properties, which is a first step towards establishing a register that is fully machine-readable and able to be updated instantly.
HM Land Registry
HM Land Registry safeguards land and property ownership worth in excess of £4 trillion, including around £1 trillion of mortgages. The Land Register contains more than 25 million titles showing evidence of ownership for some 86% of the land mass of England and Wales.
HM Land Registry’s mission is to guarantee and protect property rights in England and Wales.
HM Land Registry is a government department created in 1862. It operates as an executive agency and a trading fund and its running costs are covered by the fees paid by the users of its services. Its ambition is to become the world’s leading land registry for speed, simplicity and an open approach to data.
For further information about HM Land Registry visit www.gov.uk/land-registry.
TechTalk Radio is a weekly podcast from real estate intelligence provider EG. Hosts Emily Wright and Samantha McClary and their guests discuss all things technology, data and innovation in the world of real estate.