In Sweden integrating blockchain into land registration and transfer has been shown to produce cost savings of more than 100 million euros per year for taxpayers by creating immediacy and eliminating extraneous labor, time, and resource costs. A STRATO solution could enable an incorruptible ledger of land records, linking them to sovereign ID or digital ID so that they would be untouched even by natural disasters or wars. This drives a number of benefits, listed below.
- Ease labor and time costs - automating and digitizing processes
- Allow near real-time traceability and transparency around the sale and purchase of land
- Close the gap between purchase and procurement - faster transactions
This potential for positive impact has motivate governments of countries beyond Sweden, including Ukraine, the US, and the Republic of Georgia to experiment with this use case with great success.