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Description
Hyperledger FMSIG's October 2022 Mortgage Industry Subgroup update, led by Marvin Bantugan, MI Subgroup Chair.
Our guest, David FitzGerald discussed and demonstrated the smart land records project with Wise County, Virginia Land Records Office that used immutable ledger technology to enable "faster, cheaper, better" access to its property records; plus, the monthly update on Blockchain in the mortgage industry with James Hendrick.
Timestamps:
00:00 Welcome and presentation
02:06 Community information
03:53 The state of Blockchain in the mortgage industry
12:59 Wise County Smart Land Records Use Case and Bloqable.io demo with David Fitzgerald
Join the FMSIG Mortgage Subgroup Wiki: https://wiki.hyperledger.org/display/CMSIG/FMSIG+Insurance+Markets+Projects
Subscribe to the mailing list to receive the latest updates: https://lists.hyperledger.org/g/financial-markets-sig
Follow the Hyperledger Financial Markets Special Interest Group LinkedIn page: https://www.linkedin.com/showcase/hyperledger-financial-markets-sig/
----
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License
Creative Commons Attribution license (reuse allowed)
A
Thank
you.
Everyone
welcome
to
the
October
hyperledger
financial
markets,
mortgage
subgroup,
meeting
that
that's
always
a
mouthful
before
I
get
started,
as
always,
I'd
like
to
express
our
appreciation
to
the
financial
Market
special
interest
group,
the
hyperledger
foundation
for
their
ongoing
support
and
really
making
these
meetings
possible.
So
thank
you
to
them
and
thank
you
to
you
guys
for
joining.
A
Okay,
so
as
always,
please
note
that
this
meeting
is
Under
the
Umbrella
of
the
hyperledger
foundation.
So
we
ask
that
everyone
abide
by
the
antitrust
policy
and
quotative
conduct.
We
always
go
through
this
every
session
for
antitrust.
Please
avoid
discussions
of
company
specific
pricing
products
projects
don't
make
negative
remarks
about
other
companies
or
products
and
by
the
code
of
conduct
please
treat
each
other
with
respect,
never
discriminate,
communicate
constructively.
A
A
Here
is
the
agenda
for
today,
we've
already
gone
through
the
welcome
and
meeting
housekeeping
stuff.
There's
a
brief
hyperledger
announcement.
Then
James
Hendrick
is
going
to
go
through
the
state
of
blockchain
in
the
global
mortgage
industry.
Dave
Fitzgerald
is
going
to
do
the
Wise
County
smart
land
records
use
case,
we'll
briefly
go
over
future
agenda
topics
and
Q
a
we
always
covered
the
next
set
of
slides
in
every
meeting,
and
really
it's
just
to
reiterate
that
we're
all
on
the
same
blockchain
Journey,
but
we
may
be
at
different
points
along
this
journey.
A
Okay,
Community
Information,
I
I
wanted
to
mention
really
briefly
that
there
is
a
hyperledger
workshop.
That's
part
of
the
IEEE
Global
emerging
technology,
blockchain
Forum,
so
the
form
is
virtual.
It
goes
from
November
7th
through
the
11th.
The
hyperledger
workshop
is
on
November
8th
and
it's
from
8
A.M
to
11
p.m.
Pacific,
kamlesh,
nagbari
and
I
are
the
co-chairs
and
moderators
com.
A
Lash
is
the
CTO
of
Snapper
of
future
Tech,
a
hyperledger
technical
steering
committee
member
he's
also
co-chair
of
hyperledger
India
and
co-chair
of
the
IEEE
blockchain
initiative,
sustainability
committee
and
he's
a
Ted
speaker
as
well
on
blockchain.
So
I'm
really
excited
to
be
working
with
him,
and
this
is
a
free
session,
so
we'll
make
the
links
available
or
you
can
go
to
the
display
website.
Please
feel
free
to
join
the
next
set
of
slides.
A
We
always
cover
because
they're
really
for
new
members
or,
if
you're,
looking
to
get
new
information
on
blockchain
and
the
different
groups
that
we're
a
part
of
so
this
slide
covers
the
different
resources
that
are
available
and
you
can
see
on
the
second
from
the
bottom.
There,
the
link
to
the
mortgage
subgroup
Wiki
to
access
these
resources,
you'll
need
to
create
an
lfid
I'm
not
going
to
go
through
this,
but
I
want
to
make
sure
you
have
access
to
this
information
and
then
blockchain
training
as
well.
A
B
Marvin,
thank
you
very
much.
Let's
go
ahead
and
move
on
to
the
first
line
so
again
for
everybody.
This
is
a
recap
of
the
various
articles
and
information
that
we've
been
covering
in
these
presentations
over
the
last
couple
years.
You
know,
as
you
noticed,
we
kind
of
talked
a
couple
months
ago.
We
were
moving
our
way
around
the
continents
showing
you,
the
blockchain
technology
within
the
the
mortgage
industry
really
is
taking
off
on
every
continent.
B
Antarctica
is
probably
the
only
one
we
haven't
touched
as
of
yet,
but
we
do
have
two
new
topics
today,
one
coming
out
of
India
and
one
is
actually
a
white
paper
that
Deloitte
released
sometime
back
and
Marvin,
let's
jump
on
to
the
first
Global
page
fantastic.
So
you
know
taking
a
look
out
of
India
India's
second
largest
state
Maharashtra
they're
leveraging
distributed
distributed,
Ledger
technology
to
revamp
the
documentation
of
land
property.
B
They
currently
have
a
blockchain
pilot,
that's
already
started
and
they're
working
with
banks
and
other
mortgage
companies,
including
the
Indian
banking
Association.
The
property
info
is
being
stored
on
public
ledgers,
while
documental
barriers
bear
a
serial
number
to
improve,
searching
for
the
info
to
protect
both
investors
and
lenders.
B
Ironically,
the
state's
registry
was
first
kicked
off
because
of
covid-19
restrictions
in
2020.
and
that's
where
the
the
whole
concept
for
their
e-registration
really
started.
Maharashtra
State,
Board
of
skill,
development
or
the
msbsd
is
leveraging
DLT
technology
to
issue
nearly
a
hundred
thousand
digit
certificates
on
the
polygon
blockchain
in
India,
and
this
last
August,
the
Indian
India
blockchain
Forum,
was
formed.
B
The
ibf
serves
as
a
advocacy
primarily
for
industries
that
seek
to
achieve
several
objectives,
including
creating
an
Indian
blockchain
stack,
creating
a
talent
pool
for
firms
to
be
able
to
tap
into
and
trigger
triggering
a
growth
and
spur
for
the
ecosystem.
So
if
you
get
an
opportunity,
the
article
is
up
and
available
on
the
wiki
take
a
look,
and
you
can
find
out
a
little
bit
more
about.
What's
going
on
in
India
the
second
article
we
have
on
the
global
stage.
B
This
is
actually
a
white
paper
that
came
out
of
Deloitte,
it's
a
little
bit
dated,
but
it's
still
worth
the
review
to
take
a
look
I'm
not
going
to
go
into
everything
it's
about
a
30
page
white
paper,
but
they
really
break
down
around
six
different
opportunities.
I'll
talk
about
a
few
of
them
looking
at
both.
B
What's
the
current
challenge
that
we
deal
with
in
those
areas
as
well
as
what
opportunities
can
blockchain
bring
to
the
table,
so
everything
from
improving
property
searches
and
Expediting
pre-lease
due
diligence,
easing
Leasing
and
subsequent
property
and
cash
flow
management
with
you
know,
blockchain
smart
contracts,
they
can
enable
an
easier,
transparent
and
more
efficient
management
of
these
transactions,
enabling
smarter
decision
making
by
connecting
Tech
Systems.
It
helps
refine
the
quality
of
the
data,
the
analysis
and
the
decisions
that
businesses
are
making
transparent
and
relative
cheaper
property.
B
Title
management
kind
of
the
you
know
theme
of
what
we're
going
to
be
discussing
in
today's
meeting
ranges
from
title
management
and
property
searches
and
enabling
more
efficient
processing
of
financing
and
payments.
You
know
blockchain
allows
transactions
that
are
faster,
cheaper
and
safer
through
an
immutable
record
on
the
blockchain.
So
definitely
take
a
look
at
these
and
some
of
the
previous
articles
that
we've
posted
out
there
on
the
global
level,
taking
a
look
at
the
U.S
level.
B
B
But
again,
if
you
have
the
opportunity,
go
back
and
take
a
look
at
the
information
that's
available
on
the
week,
the
wiki
on
the
next
slide.
Taking
a
look
at
the
the
first
one
you
know,
blockchain
can
potentially
resolve
five
critical
issues
in
the
real
estate
industry.
So
you
know
taking
a
look
at
the
five
that
the
article
talk
about
everything
from
property
searches.
You
know,
as
we
mentioned
in
the
previous
Deloitte
article.
You
know.
B
Statistics
suggests
that
93
percent
of
home
buyers
in
the
US
use
an
online
website,
frequently
the
information
on
these
sites.
It's
inaccurate,
it's
inaccurate,
it's
outdated
or
it's
incomplete
and
blockchain
has
the
ability
to
help
solve
these
issues.
Commission
and
additional
fees,
financing
and
loan
loan
origination
underwriting.
B
You
know,
as
we
know,
are
very
manual
and
unstandardized
processes
by
digitizing
a
mortgage
information
such
as
ownership
rights,
loan
payment
history
can
be
programmed
to
you
know,
support
future
servicing
servicing
issues
as
well,
and
smart
contracts
again
can
collect
and
distribute
payments
to
the
beneficiaries,
while
simultaneously
reporting
to
The
Regulators
decision
making
for
tenants
and
landlords.
If
data
data
is
accessible
on
our
immunable
shared
network,
it
helps
facilitate
that
information
flow
between
landlords
and
tenants
and
then
property
title
management.
B
You
know
current
systems
of
property
tiles,
it's
often
fragmented
difficult
to
manage
blockchain
makes
transferring
you
know
safe.
It
makes
transfer
safe
by
removing
some
of
those
human
error
issues
and
reducing
the
potential
for
fraud,
so
a
great
article
coming
out
of
crypto
late
and
then
from
defy
rate
I.
Just
I
love
their
little
quote
here
on
definition,
but
this
is
a
great
article.
You
know,
we've
been
talking
a
lot
over
the
last
several
months
about
crypto
mortgages.
B
This
article
does
a
fantastic
job
of
giving
an
overview
of
hey.
What
exactly
is
a
crypto
mortgage?
How
does
it
work?
How
does
a
crypto
mortgage
compare
versus
a
traditional
mortgage?
They
use
an
example.
We've
talked
about
Milo
before
on
our
calls.
They
use
an
example
of
a
30-year
crypto
mortgage
from
Milo.
B
You
know
one
of
the
questions
that
comes
up
in
a
crypto
mortgage.
What
happens
when
crypto
assets
change
in
value
during
the
mortgage
term?
You
know
if
the
value
of
crypto
Holdings
increase,
the
collateral
becomes
worth
more
than
what
it
was
initially
registered
at
and
the
borrow
is
ultimately
gonna.
You
know
benefit
from
that,
but
on
the
flip
side,
if
values
decrease
significantly,
borrowers
may
be
required
to
add
additional
crypto
assets
as
collateral
and
or
the
lender.
May
seize
and
sell
some
of
these
existing
Assets
in
order
to
make
up
the
shortfall.
B
So
the
the
article
does
a
great
job
of
talking
about
kind
of
the
pros
and
cons
of
crypto
mortgages,
as
well
as
presenting
four
different
lenders
here
in
October
of
2022
that
are
actively
doing
crypto
mortgages,
which,
if
you
look
back
a
year
ago,
you
know
I,
don't
know
any
of
them
were
officially
kicked
off
with
doing
more
or
crypto
mortgages.
At
this
time
and
the
last
slide
Marvin.
B
B
So,
if
you're
looking
for
some
of
that,
older
content
take
a
look
over
there
in
the
left
hand,
menu
and
then
you
know,
Marvin
shared
the
information
at
the
beginning
on
how
to
actually
sign
up
here
for
the
mortgage
industry
subgroup
how
to
set
up
your
lfid
when
we
do
post
things
to
the
subgroup
automatic
notifications
do
get
out.
So
if
you
do
want
to
see
new
information,
that's
coming
out,
please
do
sign
up
because
you'll
get
notified
automatically
as
we're
making
our
posts
and
Alma
just
dropped
into
the
chat
for
everybody.
B
A
A
In
Enterprise
software
development,
blockable
developed
the
smart
land
records
software
for
Wise
County
Virginia,
an
immutable
Ledger
solution
for
County
Land
records
that
allows
for
better,
cheaper,
faster
Land,
Title
abstraction
blockable
is
deeply
invested
in
the
ongoing
digital
transformation
of
the
residential
home
buying
and
selling
process
in
the
U.S
and
David.
It's
great
to
have
you
here.
Thank
you
for
joining
us.
C
Great,
so
thanks
very
much
Marvin
and
James
for
the
invitation
to
this
I
really
appreciate
it.
Thank
you
guys
for
attending
out
there
I
want
to
say,
welcome
and
greetings
from
the
Old
Dominion
I'm
here
in
Arlington
Virginia,
just
outside
of
DC
and
I
I
send
my
greetings
to
all
of
you.
We're
going
to
start
with
a
presentation
so
and
Marvin
do
you
want
me
to
show
it
from
my
computer.
C
So
I'll
start,
oh,
shall
I'll
share
my
screen
and
we'll
go
here
to
the
presentation
and
we'll
pull
that
up
and
we'll
put
it
on
presentation,
View,
okay,
so
we're
going
to
talk
about
Wise,
County,
Virginia,
smart
land
record
creation
project
now,
I
just
want
to
make
sure
that
you
understand.
I
use
the
term
smart
land
record
I
coined
it.
I
had
not
trademarked
it.
It
has
nothing
to
do
or
very
little
to
do
with
a
smart
contract.
C
C
But
I
just
want
to
point
that
out.
So
when
I
talk
about
a
smart
land
record,
I'll
show
you
what
it
is.
When
we
do
the
demo,
it's
not
it's,
not
a
smart
contract.
It's
just
what
I
call
a
smart
land
record
a
couple
years
ago,
I
had
the
idea
of
I
guess
once
it
was
I
refinanced.
My
house
I
thought
that
this
rebuying,
a
title
insurance
for
something
I
was
already
in
for
about
20
years,
didn't
make
any
sense
to
me.
C
I
started
looking
at
the
idea
of
digitizing
land
records
and
seeing
how
that
might
change
the
the
Dynamics
around
issuing
Title
Insurance
on
a
residence,
and
so
I
started
talking
to
to
Jack
Kennedy
down
in
Wise
County,
and
we
launched
this
project,
but
before
we
get
into
that,
I
just
want
to
kind
of
set.
The
I
want
to
set
the
context
for
what
this
discussion
is
about.
So
perhaps
this
is
beating
a
dead
horse
for
you
guys
on
this
meeting,
but
I.
C
Think
many
of
us
share
a
vision
that
there's
a
an
ongoing
digitization
effort
in
the
U.S
home
buying
process
and
home
buyers,
and
sellers
in
the
U.S
will
one
day
soon
be
able
to
transact
their
their
property
transfer
using
a
smartphone,
app,
okay
and
I.
Think
that's
going
to
be
from
Soup
To
Nuts,
it's
not
here
today,
searching
for
a
home
is
already
digitized.
Certainly
we
use
Zillow
and
open
door
and
various
other
apps
for
that
all
the
paperwork.
That's
related
to
actually
prop
proper
transfer
property
transfer.
C
Pardon
me
is
digitizable.
Obviously,
Biometrics
are
more
fraud,
resistant
and
secure
than
wet
signatures
today.
So
this
idea
of
going
into
a
settlement
office
and
sitting
there
for
45
minutes
signing
documents
with
you
and
your
spouse,
or
you
and
your
significant
other.
That's
really
that's
really!
Yesterday,
it's
not
not
what
we
should
be
doing
today
applying
for
mortgages
has
already
been
digitized
by
some
parties.
Of
course,
you
guys
are
familiar
with
all
the
rocket
mortgage
ads
in
likewise
companies
like
that
and
as
James
points
out
every
month.
C
There
are
many
large
banks
that
are
digitizing,
complex,
multi-party,
Property,
Transfers
and
placing
them
on
blockchains
and
I'm,
not
talking
about
residential
property.
I'm
talking
about
property
related
to
supply
chain
issues,
smart
contracts
between
big
loan
portfolios
that
are
switching
hands
between
Banks,
all
that
stuff
is
being
digitized
now
and
placed
on
blockchains
in
lowering
the
cost
of
residential
property
transfer
in
America
through
the
time.
C
Compression
of
of
the
transfer
process
and
other
means
is
a
priority
for
the
federal
government
and
for
the
government
securitization
entities,
so
the
Fannie
Mason
and
Freddie
Max
of
the
world
with
home
prices
continually
advancing
in
this
current
land
cycle,
the
feds
are
looking
for
ways
to
try
to
make
home
buying
and
Home
Ownership
more
affordable.
It's
obviously
a
massive
challenge,
but
one
of
the
ways
they're
looking
at
is
to
is
to
compress
this
45-day
settlement
cycle
into
maybe
a
five-day
settlement
cycle.
C
I've
listed
the
sections
of
the
U.S
residential
real
estate
transaction
process.
If
we
start,
let's
say
at
the
bottom
of
the
triangle,
we
have
what
I'm
calling
pre-settlement.
So
that's
when
we
list
a
property
and
we
look
and
we
search
for
properties
as
buyers
and
sellers
okay
and
in
that
area.
We're
talking
about
people
like
Zillow
and
open
door
and
those
other
sorts
of
apps
that
are
that
are
at
the
bottom
level
of
this
pyramid
in
the
middle
part
of
the
pyramid.
C
C
C
That's
the
space
where
this
Wise
County
project
is
relevant.
Many
of
you
may
have
heard
of
the
Cook
County
Illinois.
Some
work
they've
been
doing
on
putting
certain
types
of
land
record
Property
on
a
blockchain
that
was
related
to
abandoned
properties,
so
mostly
to
tag
the
abandoned
properties
to
to
allow
for
well
to
disallow
really
fraud
that
was
occurring
on
unabandoned
properties.
Reno
Nevada
likes
to
likes
to
talk
about
some
of
the
municipal
records
they're
putting
on
blockchains
and
our
friends.
C
There's
a
friend
here
as
part
of
the
special
interest
group
of
punctual
abstract,
he's
doing
some
good
work
when
it
comes
to
digitizing
the
abstraction
process
and
then
you've
heard
of
outfits,
like
figure
James
has
talked
about
them
in
the
past
and
and
they're
certainly
part
of
the
space
on
the
top
part
in
the
post
settlement
area.
We're
talking
about
bundling
loans
by
the
Banks
or
by
the
mortgage,
Originators
right
servicing
those
loans,
securitizing
the
loans
and
then
trading
trading,
those
Securities.
C
C
So
where
we
are
now,
you
have
the
context
for
for
what
this
project
is
about.
So
why
are
land
modernization
efforts
important?
What
are
the
benefits
of
applying
new
technologies
like
blockchain
or
immutable
ledgers
to
to
lean
record,
monitor
modernization,
efforts
right
and
it's
very
timely-
that
James
talked
about
those
efforts
that
are
happening
in
in
India?
C
It's
it's
really.
The
developed
world
can
benefit
the
most
from
digitizing
their
their
property
transfer
records
where
we,
as
the
advanced
developed
Nation,
are
are
on
our
way
to
to
digitizing
more
and
more
of
that
process,
but
there
will
be
countries
that
are
at
zero
that
end
up
at
more
than
more
than
where
the
US
is
because
they
have
a
they
have
a
a
digital
divide.
That's
easy
to
to
cross.
It's
like
folks
in
sub-Saharan
Africa,
all
of
a
sudden
having
cell
phones
and
internet
access.
C
They
went
from
zero
to
a
hundred
with
wireless
technology
and
something
similar
like
that
can
happen
in
land
records
for
developed
countries.
With
the
pandemic
we
had
an
Ever
decreasing
need
to
physically
visit
land.
Records
Office
to
counties
were
not
open,
County
courthouses
were
closed,
even
if
their
records
were
accessible
online.
There
are
complex
abstractions
that
require
historians,
researchers
and
Abstract
Personnel
to
to
visit
the
county
courthouse
during
a
pandemic.
We
didn't
want
that.
We
want
to
minimize
visits.
C
We
also
want
to
minimize
folks
spending
money
to
go
visit.
The
courthouse,
so
any
sort
of
easier
access
to
to
data
just
over
the
internet
connection
is
a
priority
we
can.
If
we
digitize
land
records
appropriately,
we
can
create
much
faster
discovery
of
ownership.
History,
like
I'm,
going
to
show
you
in
the
demo
and
once
the
smart
land
record
exists,
the
effort
to
abstract
the
property
for
title
insurance
can
be
done
in
minutes
instead
of
the
two
to
three
hours
it
normally
takes.
C
So
you
have
faster
time
to
close
in
increased
transaction
velocity
that
we
talk
about.
You
have
better
cheaper
economics
for
land
property,
title
insurance.
You
have
better
cheaper,
faster
land
record
access
and
Discovery
for
the
citizens
of
the
county
or
for
the
clients
of
the
counties.
If
you
think
about
a
county
with
land
records,
They
are
in
a
business
of
providing
land
records
to
power
users
right
to
the
settlement
companies.
The
settlement
attorneys
to
The
Mortgage
Banking
companies
to
the
title
insurance
companies.
C
C
C
It's
got
about
40
000
residents,
it's
firmly
in
Appalachia,
and
the
bulk
of
the
economic
development
around
that
area
for
the
last
hundred
years
has
been
tobacco,
textiles
and
then
coal,
all
three
of
which
have
been
radically
changed
over
the
last
number
of
decades.
So
what
was
once
pretty
thriving
Economic
Development
has
really
entered
a
long
period
of
stagnation
and
decline.
C
Wise
County
is
about
40
000
residents,
which
would
place
it
exactly
in
the
middle
of
a
bell
curve.
If
I
showed
you
a
bell
curve
of
the
Virginia
counties
by
population,
half
of
the
134
County
and
County
equivalents
in
Virginia
would
be
greater
than
than
40
000
people
and
a
half
would
be
smaller,
so
Wise
County
is
certainly
very
representative
of
rural
Virginia
in
in
every
way.
C
What
we
did
was.
We
are
all
familiar
with
how
fragmented
land
records
are
in
the
U.S
they're
non-uniform
they're
dispersed
around
3154
County
and
County
equivalents,
they're
time
consuming
to
research,
even
when
they're
online
costs
to
property,
sellers
and
buyers
based
on
the
records
are
high
and
they're,
not
reflective
of
the
actual
economic
effort
or
risk,
particularly
when
it
comes
to
title
insurance
working
with
Jack
Kennedy.
Who
is
the
county
clerk
Jack
used
to
be
a
state
senator
for?
First
of
all,
he
was
an
attorney
in
Virginia.
C
C
He
was
redistricted
out
of
his
senate
seat
by
gerrymandering
and
he
then
ran
for
the
house,
and
he
was
represented
at
Wise
County
in
in
the
house,
in
the
house
of
delegates
in
Virginia
for
a
couple
of
times
before
they
redistricted
him
again
and-
and
he
decided
to
give
that
up
and
run
for
Clerk
of
the
Court
which
he
successfully
ran
for
and
he's
been
he's
his
third
eight-year
term
as
Clerk
of
the
Court.
He
is
a
visionary
he's
into
blockchain.
C
C
It
wasn't
a
hard
sell
when
I
met
with
Jack,
so
we
we
wanted
to
create
what
we
call
a
bottom-up
data
set
that
has
land
abstract
information
in
each
one
of
those
smart
land
records,
with
the
objective
of
making
the
access
to
the
information
better,
cheaper
and
faster.
That's
Jack's,
Mantra
right,
it's
his
whole
raison
death
trip
for
being
in
the
in
the
clerk's
office.
C
C
C
To
do
that
building
we
implemented
a
Workforce
Development
project
for
training
and
employing
Land
Title,
abstract
drafters,
and
these
were
interns
from
the
local
colleges
in
Southwestern
Virginia.
They
had
to
be
college
students
that
was
one
of
Jack's
minimal
requirements
and
we
would
recruit
from
the
local
colleges
in
the
area
actually
very
effectively.
We
were
always
able
to
find
a
good
cohort.
C
We
would
train
those
interns
in
the
art
of
abstracting
and
then
we
would
supervise
them
as
they
were
paid
first
12
bucks
an
hour,
then
with
inflation,
14
bucks
an
hour
to
to
create
these
land
records.
So
we
got
grants
for
that.
I'll
talk
touch
on
that
in
a
little
bit
and
then
those
land
records
once
they
created
them
as
drafts.
C
C
So
the
Wise
County
record
project
was
stood
up
through
successful
Grant
applications.
Local
grants
through
the
cares,
Federal
distribution
of
cash
for
the
pandemic
that
went
down
to
every
municipality
in
this
country.
We
successfully
applied
for
some
funds
for
that
with
the
with
the
target
of
trying
to
reduce
human
traffic
to
the
courthouse,
we
want
people
to
visit
the
courthouse
and
do
whatever
they
have
to
do
virtually
as
much
as
possible.
C
During
a
pandemic,
we
raised
funds
from
the
region,
there's
a
Virginia
coal,
Economic
Development
Authority
that
granted
US
money
for
the
Workforce
Development.
We
raised
it
from
the
state
through
their
State
Compensation,
Board
technology
transfer
fund,
and
we
raised
money
from
the
federal
government
through
the
Appalachian
Regional
Commission.
C
The
last
amount
of
the
money
was
from
the
Appalachian
Regional
Commission.
It
was
a
hundred
thousand
dollar
grant
for
the
continuation
of
the
Workforce
Development
project,
so
we're
going
to
continue
to
hire
more
interns,
put
them
to
work,
developing
these
smart
Lane
records
and
and
building
the
database
so
from
May
2021.
C
So
it's
a
year
ago
and
a
half
roughly
to
the
present
we've
trained
and
employed
20
land
record
creation,
interns
from
local
colleges,
data
entry
began
in
June
of
last
year
and
another
24
interns
will
go
through
the
program
over
the
next
16
months.
To
date,
they've
created
about
2500,
smart
land
records
I'll
show
that
to
you
in
a
little
bit
and
the
goal
is
to
have
5
000
smart
Lane
records
created
by
the
end
of
2023..
C
The
county
is
now
integrating
the
smart
Lane
records
into
its
existing
online
record
database
and
projected
to
open
the
the
database
to
the
public.
In
December
of
this
year,
we
essentially
also
created
what
is
a
test
bed,
what
I
thought
the
main
goal
of
this
was
a
test
bed
for
future
application
of
automation,
software
like
co-machine
learning,
which
is
a
a
part
of
artificial
intelligence
programming.
So
we
know
right
every
step
of
the
way
that
has
to
be
taken
to
create
a
smart
land
record
physically
with
human
interaction.
C
A
C
C
I'm
trying
to
get
out
of
my
panel
here,
that's
there.
We
go
move
that
down
there:
okay,
so
here's
blockable.io
I
I'm,
not
the
most
creative
guy.
So
when
I
thought
what
I
was
going
to
name
this,
this
software
I
was
going
to
call
it
after
my
company
name,
so
it's
blockable.io,
it's
internet,
accessible
from
anywhere
in
the
world.
C
C
What
you're
seeing
is
a
simple,
a
simple
numbers
that
show
you
how
many
smart
records
are
are
in
the
database,
the
immutable
Ledger,
how
many
searches
were
performed
this
week
we
haven't
opened
to
the
public
yet
so
these
are
searches
that
that
the
the
interns
are
doing
and
how
many
smart
records
have
been
validated.
So
you
can
see
there
are
still
about
500
records
waiting
to
be
validated
by
the
land
records
Personnel,
but
there
have
been
now
2200
smart
records
that
have
been
validated
in
one
shape
or
the
other.
C
This
is
just
a
a
graph.
What
I'm,
showing
you
here
is
just
a
graph
of
the
production
of
the
records
over
time,
and
we
can
look
at
you
know
one
month
of
creation,
six
months
of
creation.
If
we
look
at
all
of
it,
it's
kind
of
how
it
was
I
can
zoom
in
on
it
and
look
at
other
discrete
Parts.
It's
just
to
give
an
idea
of
the
production
of
the
interns.
There
was
obviously
a
peak
of
peak
of
production.
This
was
over
a
weekend
when
a
bunch
of
validates
was
done.
C
C
C
C
You
want
to
look
at
some
of
this
abstract
information,
you'd
be
given
the
credentials
and
you
would
come
in
and
you
would
search
I'm
going
to
show
that
to
you
in
a
little
bit
and
you
would
pull
up
a
land
record
that
was
of
interest
to
you.
This
one
happens
to
be
for
this
property
230
Craig
Street
Northwest
in
Norton,
Virginia
Norton's,
a
town
inside
of
Wise
County
case
where
you
have
a
property
legal
description.
You've
got
a
property
parcel
number
which
the
county
gives
to
every
piece
of
land.
C
That's
on
its
land
registry
all
right
and
we
start
with
the
record
itself.
It's
got
transfers
of
all
the
sales
that
have
happened
on
this
property,
I'll
just
scroll
through
real
quickly
to
show
you
that
this
one
goes
all
the
way
back
to
1926.
there's
about
four
or
five
transfers.
Within
this
example,
the
current
and
last
transfer
was
done
in
2018..
C
So
what
we
have
here
on
the
left
side
is
historical
dates:
certain
e-file
ID
informations
that
tag
it
to
the
the
database,
the
County's
database.
We
have
the
grand
Tours
and
the
grantees
of
the
property.
Here
you
can
see
the
grantees
where
Kaylee
and
Blake
say
salier
and
they
bought
the
property
from
Jeremy,
Elizabeth,
Robert
and
Rebecca
Massey.
Okay,
that's
the
most
recent
transfer
for
this
property.
It
has
instrument
ID.
The
type
of
instrument
was,
was
a
bargain
and
sale
it's
in
the
land
records
they
paid,
sixty
seven
thousand
dollars
for
it.
C
Approximately
we
list
the
easements.
We
show
the
encumbrances
so
here
this
encumbrance,
the
first
encumbrance
belongs
to
the
grantees.
What
was
it?
They
brought
a
credit
line,
deed
of
trust
from
from
First
Bank
and
Trust
Company
for
thirty
thousand
dollars.
When
it's
due
that's
the
first
encumbrance,
there
was
another
encumbrance
that
they
got,
which
was
a
refinance
deed
of
trust,
so
they
basically
bought
the
property
for
sixty
seven
thousand
dollars.
They.
They
took
out
a
credit
line,
deed
of
trust
for
thirty
thousand
dollars
and
then
later
a
couple
years
after
they
bought
it.
C
They
refinanced
and
got
a
deed
of
trust
for
ninety
six
thousand
dollars
on
the
property
and
that's
due
in
2040
okay.
So
it
was
a
a
20-year
loan
before
that
there
was
a
transfer
from
the
from
the
porter
Fields,
so
he
was
a
grantor
Donald
Louise
Porterfield
was
a
grantor.
They
transferred
it
to
to
the
four
grantees
that
we
had
listed
before.
This
was
also
a
day
to
bargain
and
sale
that
group
paid
98
000
they
have
different
encumbrances.
This
is
interesting.
C
This
shows
an
encumbrance
on
Elizabeth
Massey
of
a
judgment,
so
she
had
a
judgment
against
her
for
a
thousand
fifty
eight
bucks.
That
was
essentially
a
lien
on
the
house
that
had
to
be
cleared
before
that
property
made
it
to
transfer
a
and
she
had
another
encumbrance,
another
judgment
so
before
she
was
able
to
transfer
that
property
to
transfer
a
because
she
was
one
of
the
grantees
she
had
to
take
care
of
that
judgment.
C
It
shows
where
the
the
information
is
located,
how
much
again
easements
this
one
is
interesting.
In
1980
there
was
a
transfer
through
a
last
will
and
testament
so
they're,
not
always
Bargains
and
Bargains
Deeds
of
bargain
and
sale,
often
their
their
Wills,
that
we
have
to
go
through
the
will
book
and
figure
that
out,
and
then
this
was
a
40-year.
We
were
doing
40-year
backwardation
now,
but
this
this
was
an
earlier
dump
when
we
were
doing
60-year
backwardation.
C
So
this
actually
went
all
the
way
back
to
1926
in
the
transfer
of
that
property
there.
So
that's
what
a
smart
Grant
land
record
looks
like
you.
Can
the
idea
is
you're
interested
in
a
property
you
want
to
know
about
its
history?
You
come
into
the
database
and
you
search
what
do
you
search
for
you,
search
by
the
address
of
the
property
or
you
search
by
the
owner
name
or
you
search
by
the
chain
status?
And
that
means
what
what's
on
the
what's
in
the
database
and
if
I
do
it
by
Chain
status?
C
You
know
when
you
come
here,
you
can
see
that
it
can
either
be
published,
drafted,
validated
superseded
or
subdivided.
So
a
draft
is
what
the
interns
are.
Working
on
validated
is
what's
been
validating
is
what
the
Lane
records
Personnel
are
looking
to
to
finalize
published
is
a
finalized
agreed
to
a
Smart
land
record
superseded
is
a
smart
land
record
that
has
new
information
on
it,
so
we're
going
to
build
a
new
block
from
the
old
block.
C
We
never
get
rid
of
the
information
in
the
old
block,
it's
on
the
immutable
Ledger
and
then
there's
also
an
ability
to
subdivide
a
property
going
forward.
So
those
those
are
the
kind
of
things
here.
We
search
for
the
published
records
and
we're
able
to
show
down
below
that
they're
1536
of
these
records.
C
I
just
happen
to
be
on
the
first
page,
there's
the
fourth
page,
there's
308
pages
of
these
records.
You
get
the
idea.
Okay,
those
are
the
published
records
in
the
search.
We
can
look
at
superseded
records,
so
there's
a
662
superseded
records,
so
these
were
records
that
began
as
as
as
published
records,
but
then
new
transactions
were
added
to
them
and
they
got
added
to
so
they
became
superseded,
and
then
here
we
have
the
records.
C
There's
432
of
them
down
here
below
those
are
the
ones
that
are
in
the
queue
waiting
for
a
land
record
Personnel
to
to
agree
that
they
work
and
publish
them.
If
they
reject
them,
because
there's
errors
they're
inside
the
administrative
part
of
the
system,
they
send
them
back
to
the
interns,
with
a
note
as
to
what
has
to
be
corrected
or
what's
missing,
and
then
that
in
turn
will
redo
the
draft
and
submit
it
again
for
validation.
C
Okay
in
a
quick
search,
I
can
just
show
you
here
I'm,
going
to
search
for
something
by
cities.
Address
so
citis
addresses
the
the
it's
not
recognized
as
an
official
address.
Your
home
address
should
give
to
all
your
friends,
isn't
isn't
considered
an
official
address,
but
it's
what
we
call
a
City's
address.
I'll
just
look
for
something
that
has
yellow
in
it.
C
I'll,
search
and
sure
enough.
There's
13
properties,
Yellow
Poplar
Street
is,
is
it
has
properties
on
it
and
also?
What
is
this?
A
Yellow
Creek
Road
I
could
look
by
owner
name
and
if
I
take,
you
know.
Smith,
for
instance,
is
in
the
owner
name
and
I
do
a
search.
Then
we
can
come
up
with
there's
485
of
these
properties.
C
Okay,
it's
a
it's.
A
good
question
will
already
these
are
considered
official
records,
so
they
all
come
from
records
that
are
considered
official
from
the
county
at
the
bottom
you'll
see
here.
The
information
contained
in
this
document
is
thought
to
be
accurate.
However,
no
warranties
implied
or
expressed
exist
regarding
the
veracity
of
the
data.
That's
true
of
any
County
Land
record.
That's
that's
whether
it's
in
their
books,
whether
it's
on
microfiche
or
whether
it's
on
the
internet,
that
they've
digitized
the
county,
represents
to
you
that
this
is
their
best
understood
information.
C
C
C
C
Id,
okay
and
that's
what's
going
to
tie
together
our
search
when
we
look
for
things
if
we
come
in
and
we
don't
know
the
name
of
the
owner-
and
we
don't
know
the
address
of
the
owner
of
the
property,
but
somebody
said:
hey
I
want
you
to
look
at
this
property
with
this
pin.
Maybe
I
got
it
from
the
assessment
records.
Then
it's
that
pin
that
kind
of
ties
all
this
stuff
together.
C
What
I
did
was
I
went
down
in
this
Wizard
and
I
started
entering
data,
so
the
first,
the
first
part
of
the
wizard.
If
you
look
at
it
is
property
transfer,
so
property
transfer
I
entered
the
date.
Today's
date,
I
said
it
was
a
land
record.
I
gave
the
instrument
number.
Where
do
I
get
this
information
I
get
all
this
information
from
the
counties
online
website
that
has
all
their
Wills
has
all
their
land
records
has
all
their
judgments
all
that
kind
of
stuff.
C
C
It's
got.
The
grand
Tours
is
the
next
one.
Then
it's
got
the
grantees,
then
it's
got
easements.
Then
it's
got
the
encumbrances,
okay
and
once
I'm
finished
doing
that
I
can
add
a
new
transfer
right.
So
that
was
my
most
recent
transfer.
Now
I'm,
going
back
in
the
record,
I
want
to
add
a
new
transfer.
Now
I'm
in
transfer,
B
I
start
filling
out
all
these
sections.
C
A
David,
thank
you
for
that
great
presentation,
I
I,
do
have
a
couple
questions
and
if
there's
anyone
else
on
this,
call
that
has
questions.
Please
speak
up
or
put
it
in
the
chat
I.
You
mentioned
that
you
were
using
aws's
Quantum
Ledger.
Why
did
you
guys
choose
that
and
some
as
opposed
to
some
other
blockchain
and
then
a
second
part
to
that
question?
Can
you
talk
about
some
of
the
operational
costs
and
using
AWS
as
Quantum
Ledger.
C
C
C
So
that
was
probably
the
first
main
feature
of
this
program
when
we
looked
into
whether
we
wanted
to
put
it
on
ethereum
or
polygon,
or
use
a
hyper
Ledger
or
other
kinds
of
things,
because
the
county
is
is
not
a
community,
because
the
county
of
wise
is
not
a
community
of
disinterested
or
interested
in
untrusted
parties,
it
is
its
own
entity.
It's
going
to
be
the
gatekeeper.
We
didn't
think
we
needed
a
decentralized
system.
C
Okay
for
this
one
proof
of
concept,
if
you
will
so,
we
actually
took
a
what
I
think
is
a
cheaper,
faster
route
and
we
looked
at
immutable
ledgers
that
are
offered
by
Amazon.
Of
course,
Google
has
one
so
does
Microsoft,
so
any
of
the
cloud
users
will
provide
an
immutable
Ledger.
It's
not
a
blockchain
in
the
sense
that
you
have
independent
nodes.
It's
not
a
blockchain
in
the
sense
that
it's
distributed,
but
it
is
a
blockchain
like
Ledger
in
the
sense
that
all
these
records
are
hashed.
C
C
B
Dave
appreciate
you
taking
the
time
to
walk
everybody
through
this
today.
This
is
a
great
presentation.
You
know.
Out
of
curiosity,
so
it
looks
like
you
guys
are
currently
set
up
for
Wise
County.
Has
there
been
any
thoughts
or
discussions
about
incorporating
other
counties
from
Virginia
and
or
the
potential
on
a
larger
scale
of
this
becoming
a
National
Registry.
C
C
C
In
my
opinion,
working
through
the
the
clerks
of
the
Court,
you
would
propagate
it
as
a
private
company
and
you
would
go
ahead
and
use
the
public
databases
which
are
open
access.
You
would
use
those
to
create
smart
land
records
and
what
you
would
need
to
do
to
do.
That
is.
You
would
need
to
use
Optical,
Character
reading
or
direct
connect
through
the
apis
to
their
various
databases,
and
then
you
would
need
to
do
the
the
co-machine
learning
and
training
on
this
to
make
this
automated.
C
There
is
not
a
viable
story
behind
this.
If
we're
just
going
to
make
smart
land
records
using
using
data
entry
like
this,
so
this
was
really
kind
of
a
proof
of
concept
we
can
see
where
it
would
go.
But
to
me,
unless
you
automate
this
process,
you're
just
doing
it
you're
kind
of
recreating.
What's
already
there.
Thankfully,
the
the
Wise
County
public
will
benefit
from
this,
but
it
costs
the
money
that
I
showed
you
that
it
cost
and
there's
cost
in
in
continually
updating
the
record.
A
Okay,
I
think
that's
it
in
terms
of
the
questions
again,
thank
you,
Dave
that
that
was
a
great
presentation,
that's
a
real,
interesting
project
and
definitely
keep
us
up
to
date
on
the
future.
Steps
really
interested
to
see
how
this
goes.
The
two
things
that
I
did
want
to
mention
from
your
presentation
that
really
stood
out
to
me
number
one:
Jack
Kennedy.
A
C
A
Yeah,
absolutely
and
I
think
you
hit
upon
the
other
point.
I
wanted
to
make
and
I
know:
we've
already
gone
past
the
hour
blockchain
immutable
edges,
that's
just
a
stepping
stone
too
AI
to
machine
learning
to
all
of
the
things
that
can
really
leverage
this
information
to
data
fabric,
so
I
think
you
hit
upon
that
and
hopefully
over
the
next
year
or
so
we'll
really
be
able
to
start
to
leverage
this
technology
and
this
information.
So
thank
you
that
was
awesome.
C
Welcome
I
think
that's
right
and
I'll
just
end
by
saying
blockchain
in
my
opinion,
right
for
Enterprise
use
is
just
a
piece
of
the
plumbing
right.
I,
don't
get
all
enamored
about
how
wonderful
it
is
and
how
it's
going
to
change
the
world
or
this,
and
that
it
is
a
wonderful
tool
when
used
appropriately
certain
the
best
application
has
been
cryptocurrency,
but
all
these
applications
reside
on
this
Plumbing
going
forward.
I
think
that
that
brings
it
into
the
here
and
now
and
I
I
think
it
takes
the
mystery
away
from
it.
A
A
You
again
just
before
we
go
future
agenda
topics.
I
wanted
to
mention
to
everyone.
We
have
attended
a
schedule
for
November
I'm,
still
finding
finalizing
Arrangements
on
the
schedule.
We
have
Rick
Grant
a
journalist
and
long-time
mortgage
industry.
Observer
Rick
was
just
asked
by
blockfin
to
chair
an
industry,
Think
Tank.
He
also
hosts
an
ongoing
podcast.
That's
called.
Would
you
consider
that
covers
developments
in
the
mortgage
industry
so
we'll
have
him
in
November
and
we're
still
adding
to
that
itinerary?