Revealed: The UK Land Registry Approves Real Estate NFTs
The UK’s Her Majesty’s Land Registry (HMLR) has approved the use of blockchain technology in the real estate market, following a successful pilot project in 2019. The HMLR collaborated with lead conveyancing firms, digital identity providers and payment intermediaries to develop a prototype that would enable digital transfer of property, including automatic updates to the Land Register, and smart contracts for automatic fund and ownership transfers.
Article Summary
← Back to BlogThe UK’s Her Majesty’s Land Registry (HMLR) has approved the use of blockchain technology in the real estate market, following a successful pilot project in 2019. The HMLR collaborated with lead conveyancing firms, digital identity providers and payment intermediaries to develop a prototype that would enable digital transfer of property, including automatic updates to the Land Register, and smart contracts for automatic fund and ownership transfers.
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