Holding digital information about property and property rights in a similar manner to the way in which bank accounts are currently accessed is the way of the future, according to the leader of an organisation set up to promote the broader concept of a digital built environment in Australia.

Virtual Australia and New Zealand Initiative (VANZI) chief executive officer Michael Haines said the way of the future revolves around a network of property ‘data banks’ which would enable commercial and residential property owners to store information about their property in a secure location within the cloud. Details stored in…