A new Blockchain-based initiative in Africa aims to stamp out corruption and free up trillions of dollars in locked capital for infrastructure development according to an article in Bitscan.
OpenLedger-based organisation Bitland will provide services to allow individuals and groups in 28 communities in Kumasi, Ghana 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 intention is to expand across the African continent.
It is estimated that today in Ghana around 78 per cent of land is unregistered.
Bitland could open up trillions of dollars in locked capital in low-income countries like Ghana and 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.
They plan to set up solar-powered Bitland centres that will function as hardware hubs for the Bitland Wireless Network which will double as education centres for locals to learn about digital solutions and how to get involved in the project.
Bitland will use the OpenLedger platform as the basis of their Blockchain infrastructure.
From the article:
“OpenLedger is built on top of the BitShares platform and its MIT-licensed Graphene blockchain technology,” explained Ronny Boesing, CEO of crypto exchange CCEDK – OpenLedger’s Danish registrar.
“BitShares was recently confirmed as a partner with the Microsoft Azure BaaS, and the Bitland project reflects the vast number of opportunities emerging as more mainstream companies realise that this is what they have all been waiting for to maximize income and future communication. As more organisations join the OpenLedger/BitShares platform, you can be sure that this Decentralised Conglomerate will exemplify the future of global economics.”
The company will issue a digital currency called Cadastrals, which will act as the entry token for their Blockchain platform.
“To get through the first year of operations, the team has allotted 20 million Cadastrals to be used in an ICO to establish the first operational Bitland Center,” added Larry Christopher Bates, Bitland’s Chief Security Officer. “The ICO will be hosted by Danish exchange CCEDK, and the funds will be held in escrow on the Openledger platform.”
Plans are the Bitland Fund will collect network fees and any money taken into the main reserve and redistribute them to projects within the Bitland communities, thereby directly funding infrastructure provision, with oversight from the relevant governments.
As the platform is developed into the future, it will add the ability for a voting system to be part of the project which will enable local communities to become directly involved in decision-making.
“The OpenLedger team is very excited to be adding Bitland to the Decentralised Conglomerate,’ continued Boesing. “Now, the infrastructure of the OpenLedger system will grow to include real estate, commercial property investments, and development of third world countries as part of its future plans. As Bitland plans to work with governments around the world to register land titles on the OpenLedger blockchain, the ecosystem will represent not just smart contracts, but smart cities. The OpenLedger platform will help bring transparency to nations where corruption has been the main impedance to progress, and further it will allow remittance and investments to flow into underdeveloped areas without big companies taking a large cut. The Bitland project is about more than registering land titles: this is the first step to bringing true democracy and meritocracy to the world.”
In the end, the company claims people will be able to use their mobile devices to register a plot of land with GPS accuracy, file a claim, register a dispute, sell or purchase land. As OpenLedger also allows smart contracts, the mitigates the trust issue, so that microloans can be issued and government contracts fulfilled on a platform that tracks progress and distributes funds accordingly.
- UC Berkeley Opens New Blockchain Lab – Steve Chen Appointed to Co-Lead Newly Formed Berkeley Blockchain Lab - December 10, 2017
- Peter Vessenes Announces Deluge Network To Support a Safe and Direct Way to Contribute Bitcoin Directly to ICOs - December 5, 2017
- EXMO Launches Token Sale with Blockstarter’s ICO Solution - December 5, 2017
- AdHive, A Blockchain-Based Native Advertising Platform, Engages with WINGS DAO Platform - December 5, 2017
- Perkins Coie Adds SEC Attorney in San Francisco with Fintech and Blockchain Experience - December 5, 2017
- Cryptocurrency Monero Announces Breakthrough Online Shopping Initiative Featuring Top Global Artists’ Music and Merchandise - December 5, 2017
- Bitcoin for a ‘bit’ of Caribbean paradise - December 5, 2017
- With the Launch of SunCoin, Solar Bankers Takes On the World’s Energy Giants - December 4, 2017
- Blockchain News Is Merging With Token Report - November 30, 2017
- Mira launches Pre-ICO for Mira – an Easy and Convenient Way to Buy, Store and Send Cryptocurrency - November 23, 2017
- Dash and KuvaCash Partner to Fight Inflation in Zimbabwe with Cryptocurrency - November 22, 2017
- INS Ecosystem Partners with Ambrosus to Overhaul the Grocery Supply Chain - November 22, 2017
- Global Debt Registry Unveils Collateral Pledge Blockchain Proof of Concept - November 22, 2017
- Ripple Appoints Former New York State Superintendent of Financial Services Benjamin Lawsky to Its Board and Ron Will as CFO - November 22, 2017
- Advised by the Co-Founders of YouTube and Twitch, Theta Announces a Blockchain-based Video Delivery Network - November 22, 2017
- Modex adds top advisor from Google ahead of ICO - November 22, 2017
- Decentralized Ad Exchange AdEx Partners with INK to Handle the World’s First Blockchain-based Ad Auction - November 22, 2017
- Zilliqa Lowers Funding Cap Despite Heavy Demand from Investors - November 22, 2017
- Health Startup Etheal Combines Blockchain Technology with Micro-Incentives to Build a Peer-Reviewed Global List of Health Professionals - November 22, 2017
- Bitquence Rebrands as Ethos.io, Charting a Course to Unlock Crypto and the Future of Investment for the Masses - November 22, 2017
- Eidoo Introduces User Friendly ICO Engine – Allowing Crypto Startups To Launch And Manage Their Own ICOs For Fundraising On The Blockchain - November 22, 2017
- Simdaq Launches Social Platform for Democratisation and Development of Cryptocurrency Trading - November 22, 2017
- Gameflip Shatters FLIP Pre-Sale Goals, Sets Sights on December 4, 2017 ICO - November 22, 2017
- Golden Alliance Gold Mining Launches Token Sale - November 22, 2017
- Genaro and Storj Labs Announce Collaboration and Product Integration - November 22, 2017
- Metal (MTL) Now Available on the Chinese Cryptocurrency Exchange - November 22, 2017
- Mark.space & Jaguar Land Rover Announce Cooperation - November 22, 2017
- Exscudo – EON Testnet Was Successfully Updated - November 22, 2017
- Valorem Foundation Launches All-new Cryptocurrency Platform - November 22, 2017
- WAX Partners with Xsolla to Offer Its Platform to More Than 2,000 Video Games - November 22, 2017
- Brave expands Basic Attention Token platform to YouTube - November 22, 2017
- Narrative Launches Blockchain Based Social Network That Puts Revenue In Your Pocket, Not Mark Zuckerberg’s - November 22, 2017
- Gladius Uses Blockchain and Spare Bandwidth to Revolutionize Cyber Security - November 22, 2017
- Indorse Announces Partnership with App Store Cryptocurrency, AppCoins, ahead of MVP Launch - November 22, 2017
- Secutix And The Paléo Festival Nyon Announce The Success Of Their Blockchain Pilot Project - November 22, 2017
- ING launches major addition to blockchain technology: Zero-Knowledge Range Proof solution - November 22, 2017
- Cofound.it Announces Teams Participating in Upcoming Live Crowdsale Event - November 22, 2017
- PUBLIQ goes public: The blockchain and AI company that fights fake news announces the start of its Initial Token Offering - November 22, 2017
- Blockchain for Business SophiaTX Reveals New Details of Platform; Confirms Date for Token Generation Event - November 22, 2017
- BCShop.io Launches Partner Program - November 22, 2017
- World’s First Social Entrepreneurship Platform Moms Avenue Challenges Etsy by Gearing Up With Blockchain - November 21, 2017
- WAX Partners with Xsolla to Offer Its Platform to More Than 2,000 Video Games - November 20, 2017
- Pundi X integrates NEM blockchain to Bring Cryptocurrency Payments Into Retail Stores - November 20, 2017
- Fujitsu Develops Security Technology to Safely Connect Blockchains - November 20, 2017
- Jibrel Network Announces a Highly Successful Pre-sale Round - November 20, 2017
- KRAFTWERK on Blockchain - November 20, 2017
- MintHealth: Empowering Patients to Take Control of their Health and Data via Blockchain Technology - November 20, 2017
- IBM Completes PoC Of Blockchain-based Shared KYC With Deutsche Bank, HSBC, MUFG And Cargill, IBM Treasuries - November 20, 2017
- LetsEnhance.io to process images on Neuromation Platform - November 20, 2017
- Blockchain And AI Researchers Propose A New Model To Return The Control Over Human Life Data To The Patients And Accelerate Biomedical Research - November 20, 2017