For storing property data, the Karnataka government will introduce a digital wallet system with a smartcard and key. The Kaveri blockchain effort is a Karnataka government initiative that intends to digitally and certify all land records in the state. The initiative is being carried out by the Centre for Smart Governance (CSG), a Karnataka government subsidiary that manages the state’s IT requirements. Each property owner is issued a smartcard with a key that holds the land records in their name. Property owners will find it easier to transact with the project.
As per the Times of India, the smartcard would be used to record and verify 67 different sorts of property transactions, including sales, purchases, leases, mortgages, and gift deeds. CSG has previously conducted a trial in the Tumakuru district, with property owners registering their land records and conducting transactions using just the smartcard.
Smart cards are issued by the government to people who want to register or already possess a property, as well as those who have their names registered with the revenue department against the property they own. A chip is embedded in the smartcard. An e-KYC procedure is used to authenticate the card at the sub-office. the registrar’s Aadhar number of the enrolled individual is verified, and biometric data is recorded. After the data has been verified, it is stored in a blockchain and made available to the owner through a password. The smartcard system, on the other hand, is only available to the owner through a kiosk at the sub-office. registrar.
To a great extent, technology has made life easier for humans. Maintaining property records is a demanding undertaking, and in today’s fast-paced world, novel solutions to make the process simpler are required. A blockchain-based land records administration system has been designed to make the procedure smooth and hassle-free. The IIT Kanpur National Blockchain Project conceptualized, executed, and launched the idea.
In one place, blockchain technology gives a single source of truth and a full view of the country. It simplifies the process of checking land transaction history and can help to avoid property conflicts to a large extent.