Ohio Considers Blockchain Technology For Real Estate Transactions
If you didn’t already know, Ohio was the first state to implement Bitcoin tax payments for residents all the way back in November, 2018, so it should be no surprise the Buckeye State is exploring further uses of blockchain technology. On Wednesday, February 20th, 2019, the County Auditors’ Association of Ohio (CAAO) announced that it had established a working group to explore how blockchain technology and infrastructure could be utilized at the county level for the transfer of real-estate deeds.
The CAAO has partnered with SafeChain for the project, an Columbus based project putting real estate transactions and land titles on the blockchain. SafeChain is set to modernize operations for both the private and public sectors of land title registry, tackling fundamental inefficiencies plaguing the home buying and selling process.
Through their safe, secure, and transparent blockchain platform, SafeChain is positioned to help title companies, realtors, local governments and mortgage bankers decrease overall costs, while delivering a smoother customer experience for land title transfers.
Ohio’s Forward-Thinking & Collaborative Officials Ready to Get to Work
Stark County Auditor Alan Harold revealed, “County Auditors are first and foremost interested in delivering efficient and competent service to Ohio taxpayers and frequently discuss ways to improve county services. In recognition of the State of Ohio’s overall initiatives to modernize government, the goal of this working group is to consider how County Auditors can be forward thinking to improve the taxpayer experience in conveying and transferring real property.”
With a team of 11 County Auditors and group chair, Warren County Auditor Matt Nolan, it’s off to the races for the CAAO and their future roll-out of blockchain technology.
You can read up further about the CAAO’s push to implement blockchain technology into real estate transactions by heading over to the SafeChain website and checking out their recent press release. We also recommend taking a look at their FAQ as well!
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