Baltimore Launches A Blockchain Solution to Vacant Homes Problem

Baltimore has found a unique solution to the problem of vacant homes by launching a blockchain project. The city has faced challenges in foreclosing on vacant homes, which can take several years due to the lengthy process involved in verifying ownership history. To streamline this process, Baltimore has entered into a $225,000 contract with Medici Land Governance to input records for the city’s approximately 13,600 vacant properties into a blockchain database. This move will not only make the system more secure but also more efficient. By using blockchain, the city can maintain an immutable chain of custody, eliminating the need for multiple title searches and enabling quicker certification of homes as they change hands. This innovative approach exemplifies how blockchain technology can address long-standing problems, including the lack of property rights, and could have far-reaching implications for economic development, both in Baltimore and in developing countries.