#Bitland puts Land Rights on the Blockchain with the Cadastral Coin

The Challenge

Securing property rights and modernizing land administration is central to many developing nation’s social and economic development. Countries that would benefit from blockchain technology experience many issues related to contradictory legal and administrative decisions that contribute to land insecurity and undermine citizen’s confidence in state institutions. In Nicuragua alone, it was once estimated that over one third of rural land was held without a clear title.

Land conflicts due to overlapping claims are numerous. Long-term insecurity of land ownership poses particular challenges to agricultural growth, natural resource preservation, and social fairness and cohesion.

The Bitland Solution

The blockchain offers huge advantages in cost, transparency and reliability thanks to the “immutable nature of decentralized ledgers” according to one of the pioneers behind the new initiative, Ronny Boesing, CEO and founder of Danish cryptocurrency exchange CCEDK.

Blockchain technology is widely considered one of the most important areas of technology in the future. It  is likely to become the key piece of infrastructure in an increasingly digital world. One area where blockchain technology can have a lasting social impact while also reducing costs and increasing revenue for governments around the world is with land registries.

A real estate transaction usually requires the signing of several physical documents (such as contract, bill of sale, credit documents) and those same documents are normally sent back and forth with mail (in some instances a scanned copy might suffice). On average this process takes several weeks to perform, but with blockchain technology this can be reduced greatly.

The application of blockchain technology being used as digital timestamp by having its certification carried out by posting the document’s cryptographic imprint (MIT Graphene Hashing Algorithm) on BitShares blockchain for property titles is turning out to be a major use-case.

What is Bitland?

Bitland is a technology platform using the decentralized trustless platform known as BitShares blockchain to bridge the gap between the government and the undocumented areas. Its key principle is that all participation is voluntary. Meaning that there’s a personal and/or community consent, and approval, time-stamped, and government approved. This process will be tokenized in the blockchain for later reference, for every claim, and transaction.

Bitland Mission Statement

We exist to provide the backbone in the effort to unlock land capital through the democratization of real property ownership utilizing leading edge technology. The Bitland digital registry will be the first of its kind. Immutable,Transparent, and Universal.

Bitland is offering the public a chance to get in early

According to Larry Bates, Chief Security Officer  of Bitland

“The Bitland Project has been picking up momentum slowly, and we are approaching critical mass. Our team has been working extremely hard to make sure that operations work smoothly, and daily progress achieved. We are nearing completion on our Alpha protocol and will be testing on the ground in the first Bitland Center in Ghana by October.”

Bitland Initial Coin Offering (ICO) is live and the company’s token is called the Cadastral, It is available for purchase through the Bitland Global website or on Denmark’s Crypto Coins Exchange (CCEDK)

The Cadastral is a coin that not only helps fund Bitland projects but more importantly, it is a token designed to store all land title transactions on its blockchain.

CCEDK and its partner organization OpenLedger both support global projects like Bitland because they are game changers in mainstream adoption, and support projects that aim to better the world overall.