greenlakes blockchain second homes: Proptech startup Greenlakes launches blockchain-enabled second home projects

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Bengaluru-based proptech startup Greenlakes has launched a blockchain-based solution for its second home project – Greenlakes Farmlands – making it the first Indian company to use blockchain solutions for owning farmlands or second homes away from the city.

The flagship project located on the Bengaluru Doddaballapur-Hosahalli Road spans approximately 100 acres of farmland amid mountains, valleys and an inland natural stream.

A blockchain is a non-editable distributed ledger that gives users access to transparent, trusted and verified information about their land, particularly during the registration process.

“Our goal is to provide our customers with an enhanced buying experience and increased transparency throughout the entire process, from registration to construction to farming. Blockchain technology will enable us to achieve this goal by providing an unalterable record of every transaction, ensuring transparency and security for our customers,” said Almas Johari, CEO of Greenlakes.

According to the company, the technology will bring in transparency in land ownership history spanning decades with clean title and encumbrance free, secured property. Additionally, it will help track the farm assets from afar leading to accountability and trace agricultural produce grown on the land.

Greenlakes has also created a remote land monitoring app with the help of blockchain technology and ISRO SAT2FARM satellite feeds. This can help track the construction activities on customers’ farms and get up-to-date data on their farming activities.

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“With this move, Greenlakes is committed to providing its customers with enhanced transparency, security, and convenience. We believe blockchain technology is a game-changer for the farmland and farmhouse industry, ” Johari said. Over the past few years, blockchain technology has emerged as a valuable tool for addressing challenges in various sectors, such as banking, healthcare, agriculture, and supply chain management.

More recently, it has also been gaining traction in the real estate industry. In Karnataka, blockchain technology has already started being implemented for land registrations, making it one of the first states in the country to adopt this technology.

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