Baltimore to Establish Blockchain Platform for Vacant Properties

January 11, 2024

The City of Baltimore has selected Medici Land Governance (MLG) to develop a blockchain platform for recording vacant properties in the municipality. Starting with a pilot program goal of recording 14,000 properties, the project will support the Baltimore’s current vacant housing initiatives.

MLG reportedly will develop the blockchain-based land recorder to integrate with Baltimore’s existing recording system by way of an Application Programming Interface (API) that will duplicate the data and publish it on the blockchain.

“MLG has deployed similar platforms in the U.S. and elsewhere in the world,” said Ali El-Husseini, CEO of MLG. “We can ensure that it would be one of the most secure ways to protect land records data sets. By using blockchain technology, MLG can establish a decentralized and trustworthy system for recording property ownership.”

Husseini said the blockchain will make it more efficient for title companies to issue policies. He added that accurately identifying vacant properties and their ownership will augment the city’s targeted interventions and community development efforts.

“Embracing blockchain technology to combat vacant housing sets the stage for a myriad of possibilities,” said Ebony Thompson, city solicitor for Baltimore. “This includes the integration of self-executing smart contracts to automate contractual agreements and payment terms. Incorporating tokenization or fractional ownership can also empower residents who have been historically deprived of the chance to own real estate, providing them with the opportunity to finally reap the benefits of one of the oldest and most crucial assets for building wealth.”

Contact ALTA at 202-296-3671 or [email protected].