Digital currencies have the advantage of being completely decentralized and user controlled making them not only stable investments but immune to political movements. Banning the coin may cause a short term dip in value but in the long term the accessibility and widespread nature of digital currencies allow them to remain viable, while fiat currency is extremely susceptible to commodity devaluation or corruption on a political scale. Bitland aims to deliver a service allowing Ghanaians to not only be educated about cryptocoins, but to also actively use them for ownership registration and as a investment medium.
The Bitland project aims to use hardware centers physically built in and around Ghana to allow users to have a increased exposure with the digital currency. Powered by solar energy these centres can be much more reliable and secure, immune from blackouts and electrical shortages. The centers also serve various other purposes such as being one of the main parts contributing to the token economy which was created to help fund and invest in the Bitland project itself. With the ICO releasing over a million tokens, the project aims to fund its various goals such as building various infrastructure in Ghana.
“The Bitland protocol will eventually allow micro-loans and contracts to be created so that investors can use their Cadastrals to simultaneously help build up an underdeveloped area, and receive a guaranteed return on their investment.”
Currently being trialled in a metropolitan area of Ghana the project allows users to register their land making it much easier for banks to lend against. Previously the huge swathes of land where not considered viable collateral by banks simply as they were not documented and registered. Using the Openledger platform, the service is also allowing its users to shape the future while providing them with a trusted third party for added security.
To conclude the new Bitland service aims to allow users to register their interests in terms of land and property ownership. Combined with the tokens which are a integral part of the system, users can also invest in real world economies. With the service offering various avenues to secure your rights and investments, Bitland hopes to expand hugely over a initial 4 year period throughout Ghana to serve the majority of the population. Look out for a Bitland centre near you as the service may come to a area near you !