Seems to be rather sturdy in my experience. Would we even be able to read an electronic record after 100 or 200 years of storage? Old piece of paper is quite accessible.
Documents getting lost/misplaced/stolen/destroyed is common in some places (owing to corruption or what). "Local in scope" but rampant. Digitization has been a panacea as there is more control over the records, but now more prone to hacking.
There have been plenty of instances of paper-based land registries being wiped out. It's just usually a very local problem because paper lends itself more to decentralized storage
Rotting, sweaty human hands and fire to name a few.
Pretty sure fire is a risk to servers as well.
Servers make it easier to keep & maintain duplicate data in separate locations, which’ll be unlikely to be affected by the same fire.
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only in that location.
mirror that DB onto a server on the other side of the country, or continent, etc.
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Nothing, this is why they have both.
It isn't fast enough for mortgage backed securities. Each transfer of ownership of the mortgage requires a separate transfer fee paid to the registry.
Moving from a paper registry at each county clerk (in the US) was a part of the 2008 financial meltdown.
I am pretty sure they have that too.
So which one is the ground truth if there is a difference between them?
The paper rules supreme in Romanian bureaucracy.
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fires? floods? documents getting lost/misplaced/stolen/destroyed?
Seems to be rather sturdy in my experience. Would we even be able to read an electronic record after 100 or 200 years of storage? Old piece of paper is quite accessible.
Documents getting lost/misplaced/stolen/destroyed is common in some places (owing to corruption or what). "Local in scope" but rampant. Digitization has been a panacea as there is more control over the records, but now more prone to hacking.
> Old piece of paper is quite accessible
If stored properly.
So are digital copies, though. If stored properly.
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There have been plenty of instances of paper-based land registries being wiped out. It's just usually a very local problem because paper lends itself more to decentralized storage
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Seems like fires and floods would also affect servers too.