A Blockchain-Based Deed Registration System: A Case Study for Saudi Arabia

Commercial real estate constitutes a significant portion of world economic assets and transaction activity. In addition, no real estate transaction is completed without a deed registration. Traditionally, an official written record of the transaction including all information about the property and the transfer of ownership is filled with the government. Unlike a paper document, which can be misplaced, we propose to build a blockchain-based deed registration system to facilitate and increase trust in the process of recording transactions. In fact, with the utilization of smart contracts on a blockchain, the deed registration process could become very easy and secure avoiding any attempt to falsify or erase transactions.