International registry of the Cape Town Convention

The Cape Town Convention (Convention on International Interests in Mobile Equipment) is one of the most successful international conventions in transnational commercial law. At the heart of its system of priorities lies the international registry. It is established by the Supervisory Authority who also appoints the registrar (Art. 17). The Registrar is liable for damages for loss resulting from its errors and omissions or those of its officers and employees (Art. 28(1)).

I think the Convention would benefit a lot from replacing the centralised registry with a blockchain-based decentralised system of registration. It would be much cheaper to operate and would be free from errors or omissions caused by the registrar or its officers or employees.