Proptech Startup Greenlakes Debuts India's First Blockchain-Powered Second Home Project in Bengaluru

Greenlakes Debuts Blockchain-Powered Second Home Project 

Greenlakes, a Bengaluru-based proptech business, has created a blockchain-based solution for its Greenlakes Farmlands project, making it the first Indian company to use blockchain technology for owning farmlands or second homes outside of urban areas.

Greenlakes Farmlands is located on the Bengaluru Doddaballapur-Hosahalli Road and has around 100 acres of farmland surrounded by mountains, valleys, and a natural inland stream. The organisation has deployed a blockchain-based solution to give consumers with access to transparent, dependable, and validated land data, especially throughout the registration process.

Greenlakes Offers Second House Projects in India Enabled by Blockchain

According to Greenlakes CEO Almas Johari, the business intends to provide its Greenlakes Farmlands consumers a smooth and transparent purchasing experience. With blockchain technology, the business can generate an immutable ledger of all transactions, assuring security and transparency throughout the process.

According to Greenlakes, the blockchain-based system would assure land ownership history transparency, clear titles, and encumbrance-free safe properties. Customers will also be able to remotely track their farm assets and monitor their agricultural products using this technology. In addition, Greenlakes has created a remote land monitoring application using blockchain technology and ISRO SAT2FARM satellite feeds, which allows users to follow construction and agricultural activity on their property.

Almas Johari, the chief executive officer of Greenlakes, claimed that the company's usage of blockchain technology illustrates its dedication to providing consumers in the agricultural and farmhouse business with more transparency, security, and convenience. In recent years, blockchain technology has shown to be a successful means of resolving issues in a variety of industries, including banking, healthcare, supply chain management, and agriculture.

Among other businesses, blockchain technology has acquired favour in the real estate sector. Karnataka was one of the first users of blockchain technology for land registrations in India.