Sweden's Blockchain Land Registry to Begin Testing in March

A group working to bring a blockchain land registry to Sweden has announced new updates.

AccessTimeIconJan 10, 2017 at 2:30 p.m. UTC
Updated Mar 6, 2023 at 3:00 p.m. UTC

A public-private effort in Sweden to record land titles on a blockchain is set to begin public testing this March.

Spearheaded by the Swedish National Land Survey and blockchain startup ChromaWay, the project was revealed in June to have support from consulting firm Kairos Future and telephone service provider Telia. Now, the project is moving ahead with the addition of two banks that specialize in mortgages, Landshypotek and SBAB, CoinDesk has learned.

ChromaWay CEO Henrik Hjelte said that the sandbox release would seek to test the platform from a business, legal and security perspective, while allowing the public to test the interface and back-end.

"The system will not be connected to live data in March yet, but it will demonstrate what it would look like if it were to be populated with real data and integrated into the different actors' services," Hjelte told CoinDesk.

He added that, at that point, more users from differing backgrounds are expected to join the effort, stating:

"We will invite regulators, governmental agencies and other actors in the space to review the platform and blockchain technology to provide feedback on the project from a legal, business and technical standpoint."

The goal, he said, is to then open source the project at a later date.

When launched, the project could be the first working example of an idea that has long captured the public's imagination.

Since 2015, various governments, including Honduras and Georgia, have been said to be considering such systems, though none has seen large-scale testing.

Fence mending

Before launch, however, Hjelte said there's more work to be done.

Of note is that he said there are differences between SBAB and Landshypotek's systems that now need to be translated to a common blockchain system.

For the trial, the blockchain will be based on ChromaWay's technology, which participants had previously said will provide transparency and privacy to the shared registry.

"We are looking to mend those pain points in the sandbox application that will be released in March," he continued.

Hjelte concluded:

"Right now we are finalizing the property transaction contract, which structure will keep improving as we get more feedback from the different actors."

Agricultural land image via Shutterstock

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.