this could make the land title insurance industry obsolete . Property titles are public documents recorded with local authorities and sometimes only available in advance , meaning a landowner 's claim can be challenged if the claim is lost or destroyed . Blockchain - based land - title registry systems would greatly reduce the chance of a claim being challenged , and many states are considering them . As that could disrupt a multi - billion dollar insurance industry that 's grown around land titles , many insurers are looking to develop the blockchain systems themselves .
Blockchain could render the US title insurance industry obsolete. Property titles are public documents recorded with local authorities and sometimes only available in writing, meaning a landowner's claim can be challenged if the document is lost or destroyed. Blockchain-based land-title registry systems would greatly reduce the chance of a claim being challenged, and many states are considering them. As that could disrupt a multi-billion dollar insurance industry that's grown around land titles, many insurers are looking to develop the blockchain systems themselves.