Ghana’s blockchain startup Bitland , is using blockchain technology to stamp out corruption and free up trillions of dollars in locked capital for infrastructure development. Bitland is allowing individuals and groups to survey land and record title deeds on the Bitland blockchain; which is way more permanent and auditable than the ledgers used currently by the government.
According to the firm, the project is being piloted with 28 communities in Kumasi, Ghana, but plans to expand across Africa to train citizens about blockchain technology, bring clarity to land ownership rights and reduce corruption the land sector. The digital title deeds will also open up millions of dollars in locked capital for various kinds of businesses.
Bitland will set up solar-powered Bitland centres that will function as hardware hubs for the Bitland Wireless Network and as well double as education centres for locals to learn about digital solutions and how to get involved in the project. At the moment, Bitland is using the OpenLedger platform built on top of the BitShares platform and its MIT-licensed Graphene blockchain technology.
According to 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 realize 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.”
Earlier, Bitland announced it will use a digital currency called Cadastrals to act as the entry token for its blockchain platform. The team said it had allotted 20 million Cadastrals to establish the first operational Bitland Center,”
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. The platform will add the capacity for a voting system to be part of the Bitland project – enabling communities to become directly involved in decision-making.
These OpenLedger infrastructure will grow to include real estate, commercial property investments, and development of third world countries as part of its future plans. Bitland says it will work with governments around the world to register land titles on the OpenLedger blockchain in a faster push towards smart cities.
The ultimate gain is that 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.With openness the system will allow people 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 well as the transparent and immutable nature of the blockchain, OpenLedger allows smart contracts.
This removes the need for trust, so that microloans can be issued and government contracts fulfilled on a platform that tracks progress and distributes funds accordingly. Bitland aims to encourage governments and private organisations to offer smart contracts to give people the chance to invest in development.