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Thane Municipal Corporation working on a pilot blockchain-based solution

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Integrating blockchain technology in property tax documents is expected to help in faster approvals and provide a single point for data availability. 

The Thane Municipal Corporation (TMC) is working on a pilot blockchain-based solution for property tax assessment in partnership with Hyderabad-based Veridoc Global India, as part of a larger effort to create a digital system to engage with citizens. The TMC caters to about 2.5 million residents in Thane, on the outskirts of Mumbai. 

Integrating blockchain technology in property tax documents is expected to help in faster approvals and provide a single point for data availability. 

The one-scan solution is also expected to speed up the process and make it simpler, enabling various stakeholders to verify the original document along with recent updates. This will benefit bank executives, property buyers, lessees and others. 

The blockchain initiative is being undertaken through the flagship programmes of the Ministry of Housing and Urban Affairs, ‘Accelerating Growth of New India’s Innovation’ (AGNIi), Startup India and InvestIndia. 

Blockchain technology is useful in cases where documents have to be authenticated multiple times in the public domain, said Sameer Unhale, CEO of Thane Smartcity and Additional Municipal Commissioner, TMC. 

“Government data sometimes sits in silos and this (blockchain solution) can help unify that and ease the administrative overhead as well as reduce processing time for citizen requests and verification time for other officials. The government can move from problem-solving mode to nation-building mode,” he said. 

The solution will verify any document stored on the blockchain through a QR code, said Rea Achalkar, CEO of VeriDoc Global India. 

Once the data has been updated, an authorized external agency will need to scan the QR code and the system will pull out the original certificate or document for instant verification. 

Traditionally, this process used to take a few days, requiring a visit to the office or a wait for the document to be verified before one could proceed further with a transaction. 

The blockchain technology solution provides for an anti-fraud instant document verification system that ensures a user can access an authentic and accurate document — created at source and stored in an encrypted format on the blockchain network. 

“The one-scan-away information provider will be ubiquitously sharing initially onboarded data with most current updates for the benefit of various stakeholders. With the successful conclusion of the pilot, we expect that the final implementation of the blockchain solution will take approximately two months,” Achalkar said. 

Unhale said that once the property tax blockchain solution is implemented, the corporation will look to shift other key documents like birth certificates and building permissions to this system. 

“We have to explore this and see how the system adapts to the new technology,” he said. “The city is becoming a very complex system and we are trying to garner the benefits from new technology to improve the life of citizens. This isn’t about using technology for the sake of technology,” he said. 

Source: TNN

(Note: The story has been published without modifications to the text. Only the headline and intro have been changed.)

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1 Comment

1 Comment

  1. Harsh Khatter

    January 11, 2020 at 2:36 pm

    Very informative Blog Post Thanks for sharing

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