115blockchain shared ledger a distributed ledger

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1.1.5.Blockchain shared ledger: A distributed ledger system There are three kinds of system architectures: Centralized systems, Decentralized systems and Distributed systems(Manfred, 2019) The current real estate transactions are on a centralized system, having there be a need for a central body of authority, the Ministry of Lands certify ownership and clear transactions[ CITATION Pas19 \l 1033 ], according to Wyman and Anthemis Partners [ CITATION Par16 \l 1033 ]. Blockchain on the other hand offers a distributed ledger approach. A distributed system is a group of independent nodes connected with one another in a coordinated manner in order to achieve a common result and they are structured in a way that the system appears to be a single group to the end user[ CITATION Par16 \l 1033 ]. A blockchain shared ledger, is, therefore, an immutable record of all transactions on the network, distributed to all members of the network for access[ CITATION Sav19 \l 1033 ]. The shared ledger would be useful in recording all transactions on a piece of land or real estate and store them on the network as a single, immutable source of truth[ CITATION MHL20 \l 1033 ]. The ledger is shared among all members of the network through replication. The ledger is permissioned such that participants have identities linking them to transactions and see only what they are supposed to see. Figure 1Traditional Centralizes Transaction Process vs Blockchain Distributed Ledger System 1.1.6.Blockchain Consensus Protocols In a business network, where participants are known and trusted, transactions can be verified and committed to the ledger through various means of agreement. These agreements are similar to the ones in traditional transaction process of real estate property acquisition such as sales agreement document. This, translated to blockchain technology, are referred to as consensus protocols. A method by which consensus decision making is
achieved is called a consensus mechanism [ CITATION Ros18 \l 1033 ]. Consensus algorithms help the network to achieve reliability in the network and establish trust within the peers in the blockchain[ CITATION Sav19 \l 1033 ]. The consensus method used will be further discussed in the design implementation section of the project. 1.2. Problem Statement The value of the global real estate industry is estimated at $217 trillion (Ksh22.2 quadrillion), with residential property making up the lion’s share at about 75% of the total value. In Kenya, the prices of real estate property continue to skyrocket as the economy has witnessed an exponential growth of the middle-class and this trend is likely to continue thanks to the increasing disposable incomes of Kenyans[ CITATION Mar20 \l 1033 ]. This is not without conflict. There has been a lot of land conflicts stemming from title deeds issues in Kenya. The mechanism used to divide lands initially has become a big bon of contention and to understand it, it is important to delve back to history. The literature on land conflict specific to Kenya identifies colonial legacy as one of the

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