Investigate the use of blockchain technology for secure and transparent property records management in kampala

Abstract

The purpose of the study was to investigate the use of blockchain technology for secure and transparent property records management. The property records management is one of the most important departments in the real estate sector because it stores the records of ownership. There are a number of loopholes in the current system, which give rise to fraud and disputes. This has discouraged people especially foreign investors from investing in properties, which makes it hard for the government to plan and reduces revenue from properties. Blockchain has the potential to counter these loopholes and sort out issues like trading the same property to more than one buyer and tampering with its records. In this study, a framework for property records management system using Blockchain was proposed. The framework uses the concept of smart contracts at various stages. The study outlines the potential benefits of employing Blockchain technology in the property records management and presents a number of case studies. The main objective of the study was achieved by answering the secondary objectives formulated to carry out the study and these include; To analyze the challenges faced in property records management in the Ugandan, to evaluate the technological infrastructure in Uganda and the readiness of systems to support blockchain implementation in property management and To develop recommendations for stakeholders to facilitate the effective integration of blockchain into Ugandan property management. The methodology applied on this research was done through qualitative and quantitative analytical framework. Study findings indicated that the property records management system is plagued with a number of concerns like falsification of documents, delays in executing transactions, poor management of records and inability to access required information. For this reason, this study proposed a framework to offer reliable, safe and accurate means through which interested parties could store and access property related information.