Developing Countries Adopting Blockchain for Land Titles
Cryptocurrency, once the realm of the Internet nerds and the tech underground, is now being openly embraced by governments and financial institutions. Major banks and Wall Street are moving to place their assets on the blockchain, and municipalities like the Isle of Man have begun formally registering companies on blockchains of their own. Now they've found a new use for Bitcoin technology: land. Having an address is something citizens of developed countries take for granted. In places like Africa, up to 90% of rural land is unregistered, lying outside the official economic system with no....
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On Tuesday, in Tbilisi, the government of Georgia signed an agreement to use the Bitcoin Blockchain to verify property transactions. Last April, the Georgian government and Bitcoin company BitFury initiated a project to record land titles on the Blockchain. This is the first time a national government is using the Blockchain to safeguard and authenticate state operations, therefore ushering in a belief in the technology that has wrongfully been painted black. First-time government Blockchain. As a matter of fact, the private Blockchain that will be an alter-proof ledger will also be....
A team of blockchain technology pioneers from Ghana, Denmark, and the U.S., has launched a blockchain initiative to establish usable land titles and free up trillions of dollars for infrastructure development in West Africa, according to Forbes. The Bitland initiative will educate the population about technology and hopefully foster the benefits of documented land ownership to those who don’t have it. It will begin in Ghana and expand throughout Africa, with hopes of catapulting infrastructure development and strengthening democracy. Ronny Boesing, the CEO and founder of CCEDK, the Danish....
Virgin Group founder and billionaire entrepreneur Sir Richard Branson is a huge supporter of blockchain technology. While talking to the press on October 3, Branson said the tech could bring an “economic revolution” to many nations worldwide. Sir Richard Branson Praises Blockchain Land Registry. Bitcoin and blockchain technology is a keen interest for....
In developing countries the right to own landed properties as a priority can be placed just behind the right to life. Using Nigeria as a typical example, every piece of land is claimed, whether on record or not. Besides lands found almost in the middle of nowhere, ancestral ownership and transfer of such remains an unbroken tradition in defining the ownership of landed properties. There have been numerous cases involving the claim of property between the nation state and the local custodians. This occurs mostly when there is the need for the government to acquire such a property for the....
The Republic of Georgia has formally teamed with Bitfury Group, a provider of blockchain infrastructure, to use the bitcoin blockchain to validate property-related transfers, according to Forbes. Bitfury Group first partnered with the Georgia government last April to register land titles using a private blockchain and to verify them using the public bitcoin blockchain. This marked the first time a national government used the bitcoin blockchain to validate and secure government actions. Parties Expand Agreement. The Georgian National Agency of Public Registry (NAPR) and Bitfury have agreed....