So far, real estate has been one of the most popular uses for the blockchain. Last June the Swedish Property Registry in collaboration with the blockchain company ChromaWay, telecoms expert Telia and consulting firm Kairos Future announced that they planned to expedite the process of buying and selling real estate in the country by implementing a blockchain platform. Now they have revealed that this March this platform will begin to be tested publicly.

As described in the previously published document, it is basically to take advantage of or imitate so-called 'colored coins' based on the bitcoin blockchain to turn them into a unique footprint intended to mark each property, checking each owner from the beginning. And although it is admitted that the third party is not entirely dispensed with, since at least the so-called 'Genesis exit', when the property is first registered, must be carried out using a notary's office; As soon as the property is sold only would have to consult its history in the blockchain and add the buyer, just as it happens with the exchange of bitcoins. This would streamline the process and reduce costs.

For the next test, a blockchain provided by ChromaWay will be used in a safe or 'sandbox' environment, that is, it will not yet be applied with real data until this stage is satisfactorily completed. In addition, two new partners have joined the project: banks specializing in mortgages, Landshypotek and SBAB.

Henrik Hjelte, CEO of ChromaWay, said that this test will focus primarily on the corporate, legal and secure application of the platform, although there are certain vulnerabilities that must be fixed first. He has also invited other actors in the industry to join the project to continue growing together.

The ultimate goal is to make the platform available to the public as an open source, although there is still a way to go. In addition, ChromaWay is also developing a platform that would allow the creation and management of private contracts in a private way, especially aimed at the corporate sector.