This is the fruit of the year-long efforts of the aforementioned institution. In all fairness, Lantmäteriet could never have succeeded without the help of partner institutions like Landshypotek Bank and SBAB Bank, Kairos Future, ChromaWay, Svensk Fastighetsförmedling, Telia Sverige, and Evry.
The partner organizations explained that the smart contract which allowed for the demo transaction to occur complied with the European Union’s respective laws and regulations, including the General Data Production Regulation (GDPR) privacy regulations.
Jörgen Modin, the project’s head, explained the initiative further:
“Although the project uses centralized ID services, that is those approved by the government, in a blockchain environment these signatures must be put under the same scrutiny as everything else, and hence we do verify in each and every client all the way up to the root certificate.”
The Swedish national agency has begun with the initiative early last year, thinking that “it would be a good idea to see” if the agency’s many tedious tasks could be sped up by the use of blockchain, as reported in CoinDesk.