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The impact of Hyperledger Fabric on the time it takes to complete the conveyancing process in Ireland.

Hyland, Alexander (2019) The impact of Hyperledger Fabric on the time it takes to complete the conveyancing process in Ireland. Masters thesis, Dublin, National College of Ireland.

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Abstract

The current conveyancing process in Ireland is not utilising technology in the same way many other processes are. The current system is reliant on traditional methods of communication and file storage. This is resulting in a process that is not efficient. The modern consumer is tech savvy and has access to a lot of information through their smartphones. However, in the case of the conveyancing process they are largely left in the dark. The traditional methods of file transfers such as post and couriers are required due to security and government regulations. These methods add valuable time to a process that already seems slow to the consumer. The addition of blockchain would create a unified platform where all actors of a conveyancing process would be able to have almost instant access to view and transfer the necessary files within the process. The aim of this paper is to simulate the time for the current process and replace the traditional file transfer methods with what a blockchain solution could provide. The paper does not intend to evaluate the time efficiency of having access to documentation. This research attempts to evaluates if blockchain is an appropriate solution to the conveyancing problem and what Hyperledger Fabric could provide. The research estimates using simulation, that the application of a blockchain network for the transfer of documents in the conveyancing process would result in an 18 day or 42% reduction in the time it takes to complete a conveyancing process in Ireland. These figures could be further reduced after this research, once the overall impact of access to documentation through blockchain can be measured.

Item Type: Thesis (Masters)
Subjects: Q Science > QA Mathematics > Electronic computers. Computer science
T Technology > T Technology (General) > Information Technology > Electronic computers. Computer science

Q Science > QA Mathematics > Computer software
T Technology > T Technology (General) > Information Technology > Computer software
Divisions: School of Computing > Master of Science in FinTech
Depositing User: Dan English
Date Deposited: 03 Jun 2020 10:50
Last Modified: 03 Jun 2020 12:55
URI: http://norma.ncirl.ie/id/eprint/4230

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