io.property.agreement.network

io.property.agreement.network is a hyperledger composer solution for Proffer Blockchain Hackathon. Team members

• Antreas Pogiatzis (UK)
• James Whiteman (NZ)

The Problem

Law has become an area where knowledge is power. Understanding the intricacies and nuances of many of the processes in law can take years of study. However once understood some processes can become just a matter of copy and paste. So while sometimes a process may be simple once understood, it can still be very costly to access that knowledge. A good example of this is property conveyancing.

• First an agreement is drawn up which parties agree upon.
• Then the titles are exchanged and the data updated.

The io.property.agreement.network looks at the possibility of solving the first point.

Solutions

A solution that encapsulates the full transaction of property conveyancing is outside the scope of this project as it will require co-operation with the government in the country in which the conveyance is taking place. Some possible solutions to completing the agreement are listed below

• Continue with parties going to their local lawyers to draw up an agreement.
• A full stack application that allows parties to come to an agreement.
• A distributed ledger available via an application that tracks the steps taken to reach an agreement.

Proposed Solution Distributed ledger / Application for property agreement (Blockchain)

IBM states that blockchain can enable enterprises to :

• Free up capital
• Lower transcation costs
• Speed processes
• Provide security and trust

What if we were able to provide this distruptive technology to the area of law and effectivly provide a faster process for parties to come to an agreement with a lower cost in a way that was secure and trusted. For this hack we have used hyperledger composer. The following details the files and the method of deployment for implementing this solution.

Youtube https://youtu.be/Nz__-YuzWCw