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.
Bring Blockchain To The People
Ronny Boesing, the CEO and founder of CCEDK, the Danish cryptocurrency exchange and one of the Bitland’s promoters, said the initiative will bring blockchain technology directly to the people. The goal is to provide services allowing groups and individuals to survey land and record titles on the Bitland blockchain and serve as a liaison with the government to resolve disputes.
Bitland, which uses the OpenLedger platform for its blockchain infrastructure, has already been introduced in 28 communities in Kumasi, a city in southern Ghana, one of the most populated areas in the country. Boesing is the Danish registrar of OpenLedger.
Bitland will attempt to register land titles to a blockchain to make ownership public and immutable. There are no banks in Ghana willing to lend against unregistered land.