Would Blockchain Technology Represent The End Of Extrajudicial Registries?

Abstract

In recent years, the security protocol called blockchain has been gaining space in the market, especially in the operation of transactions. With the objective of extinguishing centralizing third parties, this disruptive technology proposes a paradigmatic transfiguration of traditional institutions, such as the extrajudicial services provided by notaries. To meet legal security and the effectiveness of relationships, extrajudicial services provide essential services, performing activities that are important for civil life, from birth registrations to real estate registrations. It is proposed to investigate the possibility of replacing the centralized certification model typical of notary and registration activity by the decentralized blockchain system. In this work, bibliographic research was used as the predominant methodology in order to understand the spaces of blockchain technology and its impacts on services provided by utilities. The conclusion of this study was that, despite the importance of blockchain, it is essential that its introduction is cautious, given the need for detailed human analysis to verify the data record, making it necessary (or imminent) to reinvention of notary and registry services.