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.