{"id":89468,"date":"2018-10-16T17:18:46","date_gmt":"2018-10-17T00:18:46","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=89468"},"modified":"2018-10-16T17:18:46","modified_gmt":"2018-10-17T00:18:46","slug":"new-south-wales-to-test-blockchain-system-for-land-conveyance","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/new-south-wales-to-test-blockchain-system-for-land-conveyance\/","title":{"rendered":"New South Wales to Test Blockchain System for Land Conveyance"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Stockholm-based company ChromaWay has partnered with the New South Wales Land Registry Services (NSW LRS) to work on a system of property conveyance using ChromaWay\u2019s blockchain technology. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Great news from the ChromaWay team: We&#39;ve teamed up with the New South Wales Land Registry Services to bring <a href=\"https:\/\/twitter.com\/hashtag\/blockchain?src=hash&ref_src=twsrc%5Etfw\">#blockchain<\/a> tech to land registry contracts ! Find more information here: <a href=\"https:\/\/t.co\/uZm3oY3OmE\">https:\/\/t.co\/uZm3oY3OmE<\/a><\/p>\n<p>&mdash; ChromaWay (@chromaway) <a href=\"https:\/\/twitter.com\/chromaway\/status\/1052096479861624832?ref_src=twsrc%5Etfw\">October 16, 2018<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Testing the Waters<\/span><\/h2>\n<p class=\"p1\"><span class=\"s1\">A proof of concept is in the works, according to the Financial Review, that will demonstrate the use of the blockchain in facilitating land transactions, providing smart contracts, and recording data. <\/span><\/p>\n<p class=\"p3\"><span class=\"s2\">ChromaWay has reportedly been offering similar services to clients in its native Sweden since 2014, including the Swedish Land Registry. They\u2019ve also worked with Indian state Andhra Pradesh in their efforts to <a href=\"https:\/\/chromaway.com\/cases\/\"><span class=\"s3\">prevent land ownership fraud<\/span><\/a>. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The company said in a statement regarding the partnership that using blockchain for land rights will provide an \u201cincontrovertible chain of ownership,\u201d adding:<\/span><\/p>\n<blockquote>\n<p class=\"p1\"><span class=\"s1\">\u201c[blockchain] also has potential to transform land planning and development processes with a simplified, more efficient approach that removes burdensome paper-based processes and duplicated work that is currently the norm.\u201d<\/span><\/p>\n<\/blockquote>\n<p class=\"p1\"><span class=\"s1\">Proponents of the blockchain have long touted its possible use as a keeper of land rights records, and <a href=\"http:\/\/cryptoslate.com\/places\/australia\">Australia<\/a> has taken this to heart. The NSW LRS will be testing ChromaWay\u2019s system to determine what the best use of the blockchain for them would be, according to CEO Adam Bennett.<\/span><\/p>\n<h2 class=\"p1\"><span class=\"s1\">Better Security Needed for Land Conveyance<\/span><\/h2>\n<p class=\"p3\"><span class=\"s2\">Other online property handling systems Australia has tried to put into practice have not had the best of luck. Property Exchange Australia (PEXA), the country\u2019s current online platform for property conveyance, has suffered <a href=\"https:\/\/www.businessinsider.com.au\/an-australian-masterchef-contestant-is-homeless-after-250000-was-stolen-while-settling-her-house-using-australias-new-online-conveyancing-system-2018-6\"><span class=\"s3\">hacking attacks<\/span><\/a> like the one stole $250,000 from a woman in the process of settling her house. <\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Australia adopted it in the process of converting its property records system to digital from the 150-year-old Torrens paper title system, a move made after the NSW government mandated a transition to fully digital records by July of next year. Once the switch is made, the government plans to cancel all paper certificates of title, and banks are in the process of digitizing their records. Thousands of transactions are being conducted on PEXA, according to Business Insider.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">ChromaWay contends that the blockchain will provide greater security, greater transparency, and less data duplication than the traditional system.\u00a0In an interview\u00a0Bennett said:<\/span><\/p>\n<blockquote>\n<p class=\"p1\"><span class=\"s1\">\u201cBy working with a well-recognized blockchain partner such as ChromaWay, NSW LRS will accelerate our learning and leverage proven approaches from implementations in Sweden, India, and other countries around the world. Obviously, any changes to NSW LRS core systems, and core and non-core services will need to be approved by the regulator\/Office of the Registrar General&#8221;.\u00a0<\/span><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Stockholm-based company ChromaWay has partnered with the New South Wales Land Registry Services (NSW LRS) to work on a system of property conveyance using ChromaWay\u2019s blockchain technology. Great news from the ChromaWay team: We&#39;ve teamed up with the New South Wales Land Registry Services to bring #blockchain tech to land registry contracts ! Find more [&hellip;]<\/p>\n","protected":false},"author":93,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>New South Wales to Test Blockchain System for Land Conveyance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/new-south-wales-to-test-blockchain-system-for-land-conveyance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"New South Wales to Test Blockchain System for Land Conveyance\" \/>\n<meta property=\"og:description\" content=\"Stockholm-based company ChromaWay has partnered with the New South Wales Land Registry Services (NSW LRS) to work on a system of property conveyance using ChromaWay\u2019s blockchain technology. Great news from the ChromaWay team: We&#039;ve teamed up with the New South Wales Land Registry Services to bring #blockchain tech to land registry contracts ! Find more [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/new-south-wales-to-test-blockchain-system-for-land-conveyance\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2018-10-17T00:18:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2025\/11\/cryptoslate-cover.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"John Bogna\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"New South Wales to Test Blockchain System for Land Conveyance\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" 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