A new blockchain-based initiative in Africa aims to stamp out corruption and free up trillions of dollars in locked capital for infrastructure development.
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. That’s something OpenLedger-based organisation Bitland aims to change.
Bitland puts the human element back into crypto by bringing blockchain technology directly to the people who stand to benefit most. 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.