Oreshkin called volumes "blockchain registration" of real estate transactions

2018

Oreshkin: Capital Rosreestr will begin to register 5000 real estate transactions through a blockchain

Capital management Rosreestr soon will begin to register up to 5000 real estate transactions a month using technology blockchain. It was said by the head Ministry of Economic Development Oreshkin Maxim, writes RIA Novosti.

"I will note that else in the world there is no fully working system of accounting of the rights on a blockchain anywhere. It is very healthy that we are in leaders here — Oreshkin added. Work on start of a pilot project on registration of separate types of transactions in the territory of Moscow using logic of smart contracts completely in the automated mode, i.e., without participation of the person is actively conducted".

However, this is not about all stages of registration but only about primary.

"In the automatic mode inspections of the document packages given on state registration the applicant including regarding an opportunity or impossibility of carrying out on the basis of it state registration will be carried out" — he specified.

Meanwhile, Rosreestr already began to register using a blockchain agreements of individual share in construction (DDU). Within a pilot project passed through this procedure 100 DDU, concluded in the Leningrad Region, the head of Rosreestr Victoria Abramchenko noted. The project is implemented since February together with JSC Дом.рф (AHML) and VEB.

Russia signed the first agreement with housing in a new building on a blockchain

At the beginning of February, 2018 Rosreestr registered the first agreement of participation in shared-equity construction using technology of a blockchain. It is the joint project of AHML and Vnesheconombank within which the solution blockchain is applied in interaction of Rosreestr and public company "Fund of Protection of the Rights of Citizens — Participants of Shared-equity Construction", Rosreestr reported.

The main objective of project implementation is increasing the level of security of data. (The photo is rosreestr.ru)

The agreement was registered in the Leningrad Region which became the pilot region for project implementation. Signing of the contract – one of actions of a pilot project for application of blockchain technology at registration of agreements of participation in shared-equity construction for implementation of interaction of Rosreestr and Fund. The pilot project was approved by the First Deputy Prime Minister Igor Shuvalov.

Project participants noted that the main objective of its implementation is increasing the level of security of data, optimization of control of information, its transparency and availability to all participants of process.

Implementation of blockchain technology in process of registration of agreements of individual share provides fixing of all process steps that allows to control observance of regulations of procedures and completion dates and also excludes risk of unauthorized adjustment of data. In other words, increase in transparency of processes of investment into new construction provides protection against the most often found schemes of fraud, − Rosreestr cites in the message words of Vladimir Dyomin, the chairman of the board of VEB-Innovatsii fund, the adviser to the chairman of VEB.

For start of registration of the agreement using blockchain technology the competence center Blockchain of Commune created based on VEB was engaged in software development, follows from the message of Rosreestr.

It will be possible to estimate efficiency of technology of a blockchain in accounting and registration process according to the results of a pilot project, the Deputy Minister of Economic Development, the head of Rosreestr Victoria Abramchenko reported.

2017: Pilot

In September, 2017 Rosreestr together with Vnesheconombank started in the Novgorod region a pilot project on implementation in work of department of blockchain technology. It was said by the head of VEB Sergey Gorkov, TASS wrote in July. Also involved AHML in project implementation.

"The first zone of working off is a work with agreements of individual share and registration of a mortgage" — the head explained Ministry of Economic Development Oreshkin Maxim (Rosreestr is subordinated to the ministry). According to the results of project implementation terms of an execution of transactions can decrease from 15 days to one, Oreshkin added^[1].

Not least — thanks to the sharp growth of automation of workflows in department.

"If now on one transaction at least four persons from Rosreestr, then in the long term (it will be necessary — an edition) less than one person are required. Because there will be only people who service system operation... Actually officials in this case will not be required" — the minister (the quote by Prime news Agency) explained.

At the heart of blockchain technology — information storage in a distributed database. The architecture of the database excludes making changes in the block which is already written earlier that guarantees reliability of all its contents. According to the experts, transition of state structures to a blockchain will significantly reduce costs for a state machinery.

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