E-Paper
Kanpur Development Authority ropes in IIT-K as knowledge partner for using blockchain tech
The use of this technology is to prevent tampering of documents of properties while bringing down the cases of property frauds to minimal, claim KDA officials.
The Kanpur Development Authority (KDA) on Monday signed a memorandum of understanding (MoU) with the Indian Institute of Technology, Kanpur (IIT-K) to explore opportunities in blockchain technology and to onboard the premier institution as its knowledge partner.
KDA has become the first development authority in Uttar Pradesh to use blockchain technology with the persistent efforts of vice-chairman of the authority Arvind Singh, said the KDA in a statement.
The MoU was signed by Singh and dean, research and development, IIT-K, Prof AR Harish.
The IIT-K and the development authority have agreed in principle that the academic research would be used to better the policy making and policy implementation.
“Singh has been in talks with the IIT-Kanpur experts for long on adaptation of world’s leading technology. A meeting between him and IIT professor Manindra Agarwal was held on Saturday during which a decision was reached by KDA to use this technology,” said KDA spokesman SB Rai.
The blockchain technology, he said, is intended to be used for convenience of the general public and protect the KDA properties from fraud, and transparent use of each property.
The use of this technology is to prevent tampering of documents of properties while bringing down the cases of property frauds to minimal.
Singh during his meetings has mentioned that major cities in Tamil Nadu, Telangana, Karnataka and Gujarat have already adopted this technology. He emphasised that the benefit of this technology would be the purchaser would get authenticated information about the property. Also the applicant would be able to get all the details such as mutation and site plan.
