Since there is no single private key that can control everything, the potential dangers of losing your private key are greatly reduced. All important changes require proposals with approvals or a formal vote, and all changes are registered in the blockchain. This makes it very difficult for malicious actors to cause any real damage, even if they steal your private key. Furthermore, the land registry department (or other government entity) always holds the judicial power to veto or reverse transactions, intervene in disputes, and recover lost keys or stolen assets.

Cabinet members will access the Blockchain Estate Registry via their unique private key. Any interactions with the blockchain will require them to authenticate themselves with their private key, a payment of gas fees, and potentially registry fees as well. This logic applies to every user of the BER.

The BER runs on the Ethereum blockchain.

Yes. Both users and jurisdictions can interact with the BER through third-party web applications or work their changes straight into the blockchain. Stateside provides a web application only to improve usability and accessibility to the BER.

Transactions can be completed in minutes and do not require additional arbitration from expensive intermediaries, such as lawyers, government officials, or bank representatives. The validation logic built into the Smart Contracts allows users to manage and exchange their tokens efficiently, independently, and extremely quickly.

The exchange of title tokens in NFT marketplaces is a feature of the BER. However, this setting is disabled by default and only the jurisdiction can enable it. If enabled, owners can then opt-in and begin trading their title tokens as NFTs.

Owners will be able to convert their “non-fungible” title tokens into “fungible” fractions, as per Ethereum's ERC-20 standard. which allows owners to fractionalize their properties and trade them on cryptocurrency exchanges.

Yes. As an open source project, we encourage innovation and collaboration. This approach helps us maintain a high-quality codebase, as well as a stable and high-performing application.

In the event of death or complete inability to access their private keys, the user or family of the owner will need to provide evidence of this. The Land Registry (or Jurisdiction) will maintain records of who owns each address and can direct the cabinet to modify the registry to update records to recover rightful ownership.

Not in the current version. Direct support for loans, mortgages, and partial ownership is planned for a future version of this application. Partial ownership will be supported by allowing the conversion your ERC721 title token into ERC20 tokens which allow you to trade fractions of your property with different people.

This solution is decentralized in the sense that the records themselves live on the public blockchain and no one person in the land registry can make changes to the registry. All changes must be voted on by the cabinet.