Delivering next-generation technology, ChromaWay uses blockchain to make real estate transactions more transparent and efficient.
In 2016, Lantmäteriet, Kairos Future, Telia Company, and ChromaWay decided to investigate how blockchain and smart contracts could be used for real estate transactions, evaluating the technology from a legal, business, and IT perspective. Utilising a distributed ledger and straightforward app, the solution enables transparent access to land ownership data. The product provides traditional land registration features in a more intelligent, transparent, resilient, and secure way with the use of smart contracts to execute transactions. The focus is now on building global capacity for blockchain-based land registration and exchanges.
This solution was featured in Unchaining Land Rights market of the 2018 Global Opportunity Report, and was selected based on the criteria of that report.
How the Global Goals are addressed
Decent Work and Economic Growth
IThe solution provides a technological upgrade of existing systems, improving the efficiency, security, and transparency of real estate transactions.
Reduced Inequalities
Developing an approach for land registration on the blockchain and utilising smart contracts, the solution can have substantial impact in countries with inequality issues.
Partnerships for the Goals
The project is building up capacity and transferring knowledge to other countries, forming partnerships to achieve the other SDGs.
ChromaWay
ChromaWay is a blockchain technology company. Since 2014, we have been developing and refining our industry-defining blockchain technology platform. We work with public and private sector actors to build and support applications on our platform, mainly around real estate and finance.
Global Goals addressed