SECTION 1. The Massachusetts Technology Collaborative shall, within one year of the effective date of this act, establish and implement a pilot program to examine the use of blockchain technology to support storage of real property records, working with at least one registry of deeds. The pilot program shall test distributed ledger technology as a redundancy-driven concept to be used parallel and as a backup record to the current recording system. The Massachusetts Technology Collaborative and the participating register or registers of deeds shall identify legal impediments that must be modified to accommodate blockchain-based recordation of real property interests.

SECTION 2. Not later than 12 months after the conclusion of the pilot program, the Massachusetts Technology Collaborative shall file a report that includes an evaluation of the pilot and an assessment of the feasibility and advisability of the deployment of blockchain technology to support storage of real property records with the clerks of the house and senate, the joint committee on advanced technology, the internet and cybersecurity, joint committee on municipalities and regional government, joint committee on state administration and regulatory oversight, and the house and senate committees on ways and means.