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Blockchain Estate Registry: Disrupting Real Estate Transactions
The merge of blockchain technology and real estate has sparked much talk, with one overlooked aspect being the land registry. Tokenization has been proposed to revolutionize the industry, but it lacks perspective and transformative impact.
Decentralization and Immutability: Key Features
Blockchain, as defined by academic standards, is a decentralized ledger that operates with a native cryptocurrency and an open consensus mechanism. This decentralized nature ensures immutability, meaning data stored on the blockchain cannot be altered.
Permissioned ledgers, often labeled private, lack the crucial feature of immutability. They are controlled by a central authority, making them vulnerable to data alterations by the controlling nodes. Thus, not all chains of blocks constitute a blockchain.
Securing Land Registry Data
The primary function of a land registry is to store title deeds. Blockchain offers a secure and immutable solution for data storage, ensuring that transactions and data are protected against alteration.
Traditional land registries rely on centralized technologies, which are vulnerable to hacking and data loss. In contrast, blockchain-based registries allow direct entry by users without fear of database crashes or DDoS attacks.
Streamlining Transactions and Registration
Blockchain merges the separate acts of agreement and registration into a single transaction. Smart contracts executed on the blockchain serve as definitive registry records, providing an impartial source of truth.
Registering a property on a blockchain-based system does not eliminate the need for registrars entirely. They will still be necessary for dispute resolution, inheritance cases, and situations where access to private keys is lost.
Conclusion
Traditional land registry systems limit the potential of the digital economy, relying on centralized authorities. Blockchain technology provides a decentralized and immutable platform, securing data and automating intermediary functions.
The Blockchain Estate Registry concept demonstrates how most transactions can be verified and registered without human intervention. The adoption of a multi-chain system through a cross-blockchain protocol addresses concerns about bandwidth, scalability, and cost.
Q: Apa yang dimaksud dengan blockchain dalam konteks pendaftaran tanah?
A: Blockchain adalah buku besar yang terdesentralisasi, dengan mata uang kripto asli, dan mekanisme konsensus terbuka.
Q: Apa tujuan utama dari blockchain dalam pendaftaran tanah?
A: Untuk mengamankan data pendaftaran tanah dan membuat transaksi serta data tidak dapat diubah.
Q: Apa perbedaan antara blockchain terdesentralisasi dan buku besar yang diizinkan?
A: Blockchain terdesentralisasi tidak dapat diubah, sedangkan buku besar yang diizinkan dikontrol oleh otoritas pusat, sehingga rentan terhadap perubahan data.
Q: Bagaimana blockchain digunakan untuk mengamankan data pendaftaran tanah?
A: Data disimpan pada blockchain, yang merupakan sistem yang terdesentralisasi dan tidak dapat diubah, sehingga melindunginya dari peretasan dan kehilangan data.
Q: Bagaimana blockchain menyederhanakan transaksi dan pendaftaran?
A: Blockchain menggabungkan kesepakatan dan pendaftaran menjadi satu transaksi, melalui kontrak pintar yang berfungsi sebagai catatan pendaftaran yang pasti.
Q: Apakah pendaftaran tanah di blockchain menghilangkan kebutuhan akan pencatat?
A: Tidak, pencatat masih diperlukan untuk penyelesaian sengketa, kasus warisan, dan situasi kehilangan akses ke kunci pribadi.
Q: Apa yang dimaksud dengan Blockchain Estate Registry?
A: Konsep yang menunjukkan bahwa sebagian besar transaksi dapat diverifikasi dan didaftarkan tanpa campur tangan manusia.
Q: Bagaimana kekhawatiran tentang bandwidth, skalabilitas, dan biaya diatasi?
A: Dengan mengadopsi sistem multi-rantai melalui protokol lintas-blockchain.