Research Summary: Using Distributed Ledger Technologies to Improve and Maximise the Collection of Property Taxes

That’s a vital question @Astrid_CH! And this applies not just to using blockchain for PT, but to the general blockchain ecosystem.

The only reference the authors make to privacy issues was recommending the use of a permissioned blockchain as opposed to a permissionless blockchain. This is because permissioned blockchains are a better fit for the GDPR in terms of compliance.

The question of GDPR-compliance for blockchains will depend on blockchain type and use case. GDPR compliance is technology-neutral, the focus is not on the technology but on its application.

With the use of permissioned blockchain for PT and with the aim of achieving GDPR-compliance, personal data can be stored off-chain. Data could also be programmed to delete in the off-chain storage after the blockchain achieves a certain block height.

More information in this IBM+IAPP research: https://iapp.org/media/pdf/resource_center/blockchain_and_gdpr.pdf

No, the paper did not mention anything about NFTs. That’s an interesting use case, which is supported by my next research summary still in the pipeline, should publish once editing is completed. The authors of that paper propose NFTs as patents. As NFTs are a good fit for uniqueness and authenticity, they could be considered for certificate issuance on the blockchain.

At the moment though, most people consider NFT as an add-on in property related transactions. More like getting an NFT after a property transaction for societal displays.

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