Tokenisation of property deeds : risks and opportunities from a Maltese law perspective

Abstract

The way property is transacted according to the Civil Code and Contract law, leaves room for delays and relies on an antiquated land registry system. This paper explores how the implementation of blockchain technology, particularly NFT tokenisation, can enhance the current systems of transacting properties. The paper begins by examining the current process of property transactions in Malta and identifies areas where blockchain technology can improve the efficiency and transparency of the process. Following this, the paper investigates the functioning of NFT property marketplaces, elaborating on different business models, and their potential to revolutionise the property industry. The paper then delves into individual companies operating in the blockchain space to understand their compatibility with the current legislative framework in Malta. The findings suggest that there are certain legislative restrictions that must be addressed to enable the adoption of NFT technology in the property industry. In conclusion, the paper highlights the potential of blockchain technology, specifically NFT tokenisation, to improve the efficiency and transparency of property transactions. However, it also stresses the importance of addressing regulatory barriers to enable the widespread adoption of this technology.