Leveraging Smart Contracts for Automated Land Transactions in Anambra State

Abstract

This paper explores the transformative potential of adopting smart contracts, powered by blockchain technology, in land transactions within Anambra State, Nigeria. The current landscape of land transactions in the region is characterized by complex processes, paperwork, and susceptibility to fraudulent activities. The integration of smart contracts offers a decentralized and tamper-proof solution to address these challenges, promising unprecedented transparency, efficiency, and security. By automating processes and reducing the need for intermediaries, smart contracts have the capacity to revolutionize the real estate sector. The paper highlights the benefits, including transparency, efficiency, enhanced security, and cost savings, while also addressing challenges such as technological literacy, infrastructure, and regulatory frameworks. Recommendations are provided, emphasizing the importance of education, collaboration, infrastructure development, and cybersecurity measures. The paper concludes by envisioning a future where Anambra State, through the strategic adoption of smart contracts, fosters a robust and trustworthy land registration system, attracting investments and driving sustainable economic development.