The Land Administration of Ghana will be powered by Blockchain thanks to IBM

Ghana works with IBM for land administration based on the blockchain

A new Blockchain partnership was established by an African country and giant of the technology sector. IBM is currently working with the Government of Ghana to develop blockchain solutions for use in land administration.

At the first US-Ghana business forum that was held on July 5, IBM executives and the Government of Ghana signed a document. formalize an agreement on a technology partnership that can help improve the way in which land is administered by the government in the country enormously.

The current system used in Ghana is centralized because it is still the norm around the world. It is based on paper documents, which are not as easy to use as blockchain technology and considered inadequate because it does not allow the use of the property as collateral for transactions made by banks. This means that they can not use the property to get loans, for example

Blockchain to change the land use in Ghana

Blockchain will use in this case mainly Ghana to modernize its technology and his organization, like the blockchain. IBM General Manager in the Middle East and Africa, Takreem El-Tohamy, said the government's decision would provide greater security. and transparency in the industry at the same time as it would be able to reduce fraud in the system and boost access to investment and capital in the country .

IBM will work directly with the Department of Lands and Natural Resources to develop plans to move this initiative forward. A secondary aspect of the project is improving logistics and port processes. According to El-Tohamy, smart contracts could be used to improve customs and logistics in the country's ports. This move, believes the manager, is important to improve the country's commercial facilities

The beginning of the adoption of the blockchain in Africa

This agreement also marks another international entry point for IBM in the African space, especially concerning the blockchain. Technology. The blockchain market is growing in underdeveloped countries and big companies know that the first to implement the technology can make them make a huge profit.

Recently, more than 30 speakers addressed blockchain topics on Africa in Marrakech. during the Blockchain Summit of Bitfury. There, the South African Reserve Bank published the results of the Khokha project, which conducts interbank transfers using blockchain technology. These may be signs that the blockchain will soon be more prevalent on the continent.