Info-tech

In AP capital, blockchain technology secures land records

KV Kurmanath Hyderabad | Updated on January 08, 2018 Published on January 08, 2018

Fintech firm’s pioneering initiative eases concerns over fake land certificates

Dealing with land records may have once been the stuff of nightmares, but not any more, according to a Visakhapatnam-based firm.

Often, the common man fears being duped with fake land certificates. This is where blockchain technology could come in handy, says Zebi Data India.

“We will authenticate the credentials of users, allow them to access the records and give them a certificate. No one can tamper with the database. The buyers, too, can access relevant information on registering with their credentials,” said Babu Munagala, Founder and CEO of Zebi Data India.

This data can be verified without any human intervention, giving no scope for manipulation or copying of sensitive information by unscrupulous insiders or external hackers.

The fintech firm, which has just 23 employees, has built a solution that is being used in Amaravati, the Capital region of Andhra Pradesh. About one lakh land records with the CRDA (Capital Regional Development Authority) now have blockchain protection. “We are hosting the data of these records on the CRDA cloud at Amaravati,” Munagala said.

Andhra Pradesh has thus emerged as the country’s first public entity to use blockchain-enabled security for land records.

Munagala said Zebi Data’s maiden blockchain solution has two components. While Zebi Chain offers immutability to critical records, the central hub, Zebi Data Gateway, enables secure and instant data exchange.

Blockchain has wide application beyond the fields of banking and financial services, where it is being extensively used, Munagala said. It has applications in securing employee databases, health and salary records, pension payments and education.

Eyeing the $5-billion market for blockchain-based solutions in the country, the firm is now looking to expand its operations. After bagging the AP government order, the firm is now in talks with six players, in the public and private spaces.

Fund-raising

“We have raised ₹10 crore in the angel round. We are looking to raise more funds to support growth plans as we expand our operations to tap the unfolding opportunities in this area,” Munagala said.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on January 08, 2018
This article is closed for comments.
Please Email the Editor