Tel evaluating blockchain tech for transparency in land deals

The Telangana government has started evaluating the application of blockchain technology to secure digitised revenue and land records, a senior official said today.
"We are keen and trying out blockchain technology to bring transparency in land registration. By using blockchain we have embarked upon pilots in our state for a strong foolproof security cover," Principal Secretary (Information Technology) Jayesh Ranjan said addressing 'GAMBIT', a conference on "Bitcoins and Domains and Gaming Space" here.
The top bureaucrat said the entire land records purification exercise in the state will be completed by the end of the next month.
"Thereafter we want to create a completely new system through which all these records will be properly maintained in database. Whenever a transaction for sale/purchase is done, the documents including registration papers get updated instantly on the database," Ranjan said.

He said blockchain technology will provide a layer of security which will prevent manipulation and fraudulent practices.
"The technology will ensure that data and records are not tampered with. Blockchain application has tremendous opportunity in other areas as well like transportation and health records," the Chief Secretary added.
He expressed the need to develop an understanding on virtual currency Bitcoins as it is a grey area.
"We need to be cautious and also need to be careful and vigilant. Bitcoins, in terms of its value, there is a strong positive response from the market. Bitcoins is at its peak now. Not everyone is familiar with the Bitcoins concept," Ranjan said.