Tidze Emiliene, Director of the Blockchain Research Institute of Cameroon (BRIC), a newly formed Blockchain Think Tank in the Cameroon, has called on the government of her country to introduce a land title system built on the Blockchain. She believes such a move will eliminate the social tensions surrounding land ownership and will breath economic prosperity into the economy of the central African country.
In an interview with Core Media, she revealed how the absence of codified land title registry in the country has brought about so many litigations and violent conflicts in various communities. It must be noted that Cameroon is one of the uncountable African countries where there is no formal and institutionalized land title system.
Blockchain Solves All
“The best and cost-effective means to ensure secure property rights which is also a human right is via the open distributed public ledger of the Blockchain,” Emiliene told Core Media. In her view, this is an unprecedented opportunity for the Cameroonian government to prove it cares about the economic freedom of the people.
Quoting Peruvian Free Market Economist, Hernando de Soto, she insisted that is the best means available at the moment to resurrect the dead capital of Cameroonians. To the young woman, this is the time for the government to embrace a technology that can assist the people to raise funds with their properties in order to start new businesses and turn their ideas into enterprises and corporations.
Fondly Called CryptoLady by her peers, Emiliene understands her country has been left out of the global economy as a result of the absence of fundamental economic foundations like title deeds. “Recently I’ve been following the work of Susanne Tarkowski and her Bitnation on Blockchain Land Title deeds and I’m quite convinced that is the way we should go,” she said.
The Cryptolady mentioned that her organization has made this as one of their priority areas and will continue to research into the field and offer suggestions to policymakers.
“BRIC will continue to study and advocate how Blockchain technologies can bring about property rights and engage all stakeholders. We intend to work with traditional authorities to start piloting this in 2018 to convince the powers that be that this is achievable and something our country needs urgently. We need to stop paying lip services and focus on concrete actions to attract investment both local and international.”
Africa’s Property Rights Situation
Africans have properties but the sad reality on the ground is most countries don’t have former property systems that provide the security for them to access capital. A few countries Like Botswana, South Africa and Mauritius can actually boast of a robust land title register that provides the means of verification of ownership.
Existing Land Titling Registration is expensive, complicated and inaccessible to those below the economic ladder. Many attempts to reform the sector has been bogged down by corruption and vested interest.
It is so inspiring to see how young Africans are realizing that they can leverage the Blockchain to create transparency, economic and financial freedom. Accurately, this century will definitely be Africa’s time to rise up from the ashes and take its place in the world.