Smart Contract Application for Managing Land Administration System Transactions

Abstract

The rapid advancement of blockchain technology has led to innovative solutions for various industries, including land administration systems. Traditional land transactions often suffer from inefficiencies, lack of transparency, and susceptibility to fraud. This paper presents a novel approach using smart contract technology to enhance the management of land administration system transactions.The proposed smart contract application leverages the capabilities of blockchain to create a secure, transparent, and automated environment for managing land-related transactions. By eliminating intermediaries and relying on a decentralized ledger, the system enhances trust among stakeholders, minimizes the risk of fraud, and streamlines the overall process.The smart contract application is designed to facilitate a wide range of land-related transactions, including property transfers, sales, leases, and other land-use agreements. Through self-executing and self-enforcing contracts, parties involved in a transaction can interact directly with the blockchain, reducing the need for intermediaries and associated costs.To implement this solution, considerations must be given to legal and regulatory frameworks, as well as addressing potential challenges like ensuring privacy of sensitive data and scalability to accommodate a high volume of transactions.