Ghana Plans to Partner with IBM for Blockchain-Based Land Administration, Leader

[Goodcat49]

The government of Ghana in partnership with IBM are working hand in hand to develop blockchain technology capabilities to be used for land administration.

During the first US-Ghana Business Forum that took place on July 5, various leaders from the Ghanaian government and IBM signed a Memorandum of Understanding (MoU) to legalise an agreement that is highly anticipated to act as a great catalyst in edifying land administration processes in the country and Africa at large.

Analog vs Digital
Today, the centralized, paper-based land record system in the country is deficient and neglects to accept property to be regarded as collateral by all banks and other financial institutions. The public is now not able to get loans, and this adds to the high poverty levels in Ghana.

In this case, blockchain tech will enable Ghana to rejuvenate and create an immutable, verifiable and computerized land registry. Takreem El-Tohamy, General Manager, IBM Middle East and Africa, noted that the use of blockchain for land administration will enhance security and transparency, increase investment, reduce the current high rate of fraud, and also increase access to capital.

“We are doing this with a group of Ghanaian business partners, ensuring the transfer of know-how and technology,” El-Tohamy said.

The IBM team will work tirelessly together with the Ministry of Lands and Natural Resources to create a WhitePaper for the implementation (concept to reality) plan.
Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/ghana-plans-to-partner-with-ibm-for-blockchain-based-land-administration-leaders-signed-mou/