Bitcoin Press Releases: New blockchain-based initiative in Africa Bitland aims to stamp out corruption and free up trillions of dollars in locked capital for infrastructure development. May 16, 2016 – Blockchain technology is extremely powerful, offering huge advantages of cost, transparency and reliability thanks to the immutable nature of decentralised ledgers. However, these benefits often fail to resonate due to the markets targeted and the way in which they are communicated.
Bitland puts the human element back into the decentralisation movement by bringing blockchain technology directly to the people, face to face. The organisation will provide services to allow individuals and groups to survey land and record title deeds on the Bitland blockchain – providing a permanent and auditable record – as well as acting as liaison with the government to help resolve disputes. The project is being piloted with 28 communities in Kumasi, Ghana, with the intention of expanding across the African continent.
Education and infrastructure
Bitland is both informing citizens about blockchain technology and about how the technology can change their lives for the better. Bringing clarity to land ownership rights will not only reduce corruption, but will open up trillions of dollars in locked capital, since land that doesn’t have a functional title cannot be used as capital, and securing a mortgage to build or purchase homes is not possible. In low-income countries like Ghana, people are concerned with basic needs and infrastructure such as running water and paved roads. The Bitland team will use blockchain technology to help accelerate infrastructure development by freeing up capital – without the corruption and abuses of power that have plagued such projects in the past.
Bitland cannot rely on existing local infrastructure, since rolling blackouts are the norm. They therefore plan to set up solar-powered Bitland centres that will […]
