- An Advance in Safe and Effective Document Management
The Indian city of Raipur, the capital of Chhattisgarh, has started a ground-breaking project to store its real estate data on the blockchain. With the help of AirChains, this transition will improve security and cut processing times in half, from one month to three days.
Integrating Blockchain to Increase Security
AirChains is the blockchain project partner of the Raipur Municipal Corporation, which manages more than 8,000 building permits, work orders, and development approvals annually. Raipur Municipal Corporation commissioner Abinash Mishra underlined the value of secure certification and the necessity of pursuing a decentralized future.
Handling the Problem of Document Forgery
Mishra clarified that the city has previously experienced a great deal of problems related to document falsification. The municipality has worked with AirChains to create a solution that will soon be extended to other vital local services, such as marriage, death, and birth certificates.
Novel Techniques for Encryption
According to Ankur Rakhi Sinha, CEO of AirChains, this project is the first instance of fully homomorphic encryption with zero-knowledge (zk-FHE) in India. He explained that completely homomorphic encryption permits computations on encrypted data without the need for decryption, while zero-knowledge proofs enable information verification without disclosing further details.
Development and Upcoming Objectives
Sinha emphasized that the encryption keys and servers are still under the jurisdiction of the Raipur Municipal Corporation. Although the city is not yet operational on the blockchain, it is encrypting its existing certificates and has successfully finished approximately 100,000 certifications through the use of zero-knowledge proofs. The system will also integrate up-to-date data once it launches.
Mishra brought up the fact that banks handle loans and notify the municipal commissioner in approximately seven days, but the verification process for building permit applications usually takes a minimum of one month. This blockchain effort aims to increase efficiency and transparency by cutting the verification process down to just three days.
A Prospective for Wider Acceptance
Mishra was upbeat about the project’s chances of gaining traction. Despite its modest size, he thinks many other towns and companies looking to improve the efficiency and security of their document management systems will probably support this endeavor.
In summary
The move by Raipur to incorporate blockchain technology into its real estate records represents a significant advancement in safe and effective document management. With the help of AirChains and cutting-edge encryption technology, the Raipur Municipal Corporation hopes to establish a model for other Indian towns and abroad. In the end, this project will assist the municipality and its residents by addressing the important problem of document fraud and streamlining administrative procedures.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
