Blockchain-Based Transferable Digital Rights of Land
Ras Dwivedi, Sumit Patel, Sandeep Shukla

TL;DR
This paper introduces a blockchain-based system for tokenizing transferable development rights of land, enhancing land management and transfer processes with a focus on practical implementation challenges.
Contribution
It presents the first approach to tokenize development rights specifically, addressing practical issues like record-keeping, ground verification, and stakeholder identification.
Findings
Successful implementation with a development authority
Addresses practical challenges in land rights tokenization
Incorporates publicly available rates for accurate valuation
Abstract
Land, being a scarce and valuable resource, is in high demand, especially in densely populated areas of older cities. Development authorities require land for infrastructure projects and other amenities, while landowners hold onto their land for both its usage and its financial value. Transferable Development Rights (TDRs) serve as a mechanism to separate the development rights associated with the land from the physical land itself. Development authorities acquire the land by offering compensation in the form of TDRs, which hold monetary value. In this paper, we present the tokenization of development rights, focusing on the implementation in collaboration with a development authority. While there have been previous implementations of land tokenization, we believe our approach is the first to tokenize development rights specifically. Our implementation addresses practical challenges…
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Taxonomy
TopicsBlockchain Technology Applications and Security · FinTech, Crowdfunding, Digital Finance
