K Agency & K Ministry

AERGO

Delivery Type :

System Integration

System Type :

On Premise

BACKGROUND

A comprehensive learning system on real estates, which has many institutions and financial companies linked together, took a long time in processing paper documents
Increasing damages caused to the public and to K Ministry’s reputation due to the forgeries on paper documents
An aim to provide more convenient service to the public by improving data security through blockchain technology

CHALLENGE

Due to separate system developments for each unit of work, continuous tasks became often disconnected which caused inconvenience for the public
The extensive
time required to apply policies and technologies between many companies participating in the project
To hold regular blockchain training sessions for developers participating in the project to promote effective cooperation
To save land cadastre data that are to be split based on the performance and OP_RETURN size
To perform pilot projects for over a year, including those for J District and K Financial Telecommunications and Clearings Institute
To resolve problems from making illicit use of differences in confirmation times

SOLUTION

Enabling contract inquiry, registration, real estate information inquiry, and loan information registration through blockchain-based real estate smart contract platform (blockchain-based information inquiry and registration of inquiry information on land cadastre, building site right book, common land book, and the banks managing the data)
Saving land cadastre(text-based data set) as Tx in blockchain by dividing into 7 divisions and securing space to save data in OP_RETURN: Transaction (AERGO Enterprise standard: set not to exceed a maximum of 1MB, considering performance)
Holding regular weekly meetings by agreeing upon distinct R&R after comprising a consortium with companies with a clear field of expertise
Providing regular blockchain training sessions to companies participating in the project

BENEFIT

11 Commercial banks were enabled to use the information on changes in J District’s land cadastre through K Financial Telecommunications and Clearings Institute
Ability to make real-time inquiries to the land cadastre
Minimized needs to make visits to institutions(banks)
Reduced costs to issue certifications
Non-stop service provision throughout the year
Prevention of document and data forgery