Modernization of land registry by adapting blockchain with Proof-of-Work (PoW)
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All over the world land registry is a big problem which needs to be addressed. In order to bring this process in a more secured and trusted state, a systematic way has to be implemented. To eradicate the issue, blockchain can play a vital role. Blockchain is a revolutionary technology which has emerged recently. It is well known for its broad implication for securing and authenticating data at a unique way. In this paper a new system has been proposed which will bring the land registry system in a process where every transaction will be recorded within a new block. This block will be created through a selected miner. The miner selection will be done through a consensus algorithm known as Proof-of-Work. All the blocks will be connected with each other with the help of the hash of previous block. This will not only make the connection between two blocks but also make the system more secure and reliable. This hash code will be generated using SHA256 hashing algorithm with the help of Elliptic Curve Digital Signature Algorithm. This distributed ledger will keep track of land ownership. The system will keep track of any ownership changes in the ledger. There will be option for purchasing of land directly in the system so that no need of any third party transection. When all the requirement is met, the transaction will be enlisted and new chain will get distributed among all the nodes. As long as digital signature of a chain of the nodes matches with more than 50% of other chains of other nodes, it is accepted and kept. Whenever a version of the chain with different digital signature emerged in the system, it will be rejected after the checking is completed. This will prevent any manipulation and fraud attempt by unauthorized entity. Based on these, the paper will show a demonstration of a modernized system which can solve existing problems in land registry sector with the help of blockchain technology.