Cardano: Blockchain-powered economic development

Technology has proved to be of the greatest propellers of economic development in recent years. The advent of innovative technologies such as blockchain has offered new solutions to old problems in the global economy. One of the main projects acting in this space is Cardano, a blockchain enterprise based on human-centered approach to innovation with the aim of providing financial services and technological infrastructure to developing countries and to the three billion people who are excluded from mainstream banking services.

Cassiopeia Services is pleased to introduce you to the first in a series of industry-focused articles and interviews featuring IOHK’s founder Charles Hoskinson, and the cryptocurrency Cardano ̶ a decentralised public blockchain aiming to provide financial services and ultimately help individuals in developing countries achieve financial inclusion.

Founded in 2015, Input Output Hong Kong (IOHK) is a technology engendering company that, through innovative solutions such as their blockchain platform Cardano, aims to provide financial services to the three billion people worldwide who are currently excluded from mainstream banking, ultimately helping them achieve financial inclusion. Through building solutions, IOHK aims to push for a fairer and more transparent order that would help a great number of people, by means of bringing back trust into the systems.

The company recognises the high potential in future Blockchain studies, as well as its rapidly developing market. As such, education presents a core element of IOHK’s philosophy, consequently shaping its mission: to establish a reputation as a leading institution in the academic study of blockchain by tackling difficult research questions and building a strong foundation in the blockchain industry.

Research Based Approach to identifying and testing solutions

Confirming that education is truly the backbone of its approach, IOHK employs decentralised research teams across the globe, comprised of academic experts in specific fields. The teams work together to bringing innovation and development through collective effort.

In addition, besides bringing innovation to the market, IOHK aims to teach the local talented individuals on the uses and implications of such technologies, thus contributing much more to the field than just a “finalised product”.

IOHK’s Director of Education Lars Brünjes, a Pure Mathematics PhD, explains: “We strive to offer the highest quality teaching to selected students who will become the next generation of young talent in the industry.”

Speculatively, this can have larger implications on further development and growth of the specific market IOHK operates within, as it enables individuals to fully grasp the uses and opportunities the innovation bears.

Cardano: A deconstructed cryptocurrency concept focused on the Emerging Economies

By deconstructing the concept of cryptocurrency, IOHK team created the blockchain platform Cardano. Cardano is home to the ADA cryptocurrency, which can be used to send and receive digital funds. This digital cash represents the future of money, making possible fast, direct transfers that are guaranteed to be secure through the use of cryptography.

Cardano is more than just a cryptocurrency, however: it is a technological platform that will be capable of running the financial applications currently used every day by individuals, organisations and governments all around the world. Cardano will also run decentralised applications, or dapps ̶ services not controlled by any single party but instead operating on a blockchain.

This is the first blockchain project to be developed from a scientific philosophy, and the only one to be designed and built by a global team of leading academics and engineers. It is essential that the technology is secure, flexible and scalable for use by many millions of users.

David Esser, the IOHK’s product manager focusing on Cardano explains the research process in detail: “IOHK employs an evidence-based approach that requires a lot of research upfront by scientists and academics researching on how we might approach something and try to write mathematically provable specifications. When you’re building a brand new technology it’s the things that never existed before, and so during that process we discover the details in how it would fit better for the market. We have to adjust to the realities of the technologies. We spend a lot of time on research and theory before putting down the work.”

A major innovation by Cardano is that it will balance the needs of users with those of regulators, and in doing so combines privacy with regulation. The vision for Cardano is that its new style of regulated computing will bring greater financial inclusion by providing open access to fair financial services for all.

Cardano’s main focus is to apply academic research and evidence-based solution to provide technological infrastructure for the developing world, where blockchain can have a transformational impact: “Emerging markets are where cryptocurrencies matter,” says founder Charles Hoskinson.

By employing a public-private partnership approach with the governments of developing countries, Cardano employs Blockchain, as it is believed to be the best way to rebuild fraudulent systems, looking to enable fraud-free land registration, fairer voting systems and improved supply chains.

Cardano is currently working with projects in 25 developing economies worldwide such as Ethiopia, Mongolia, Georgia, and hopes to be present in 52 African countries by 2020.

Part-1 of our in-depht interview with founder Charles Hoskinson will be live on Friday on our FinancialFox channel. Follow us on @Cassiopeia_ltd @_FinancialFox. Stay tuned!

Fintech: Innovation to drive change

The fintech industry is no doubt one of the most interesting areas to watch right now. The stream of projects emerging in this space promise to reset the way finance is done, and to empower individuals and communities to challenge long-standing power imbalances.

Fintech has enabled the transformation of current finance models and the creation of more efficient tools to handle money matters. Through digital applications which can be controlled by mobile phone, finance is no longer exclusively in the hands of banks. Digital payments, alternative financing and personal finance management places power in the hands of consumers and individuals, who now enjoy a variety of more flexible services tailored to their specific needs.

The coupling of technology and finance in the once-obsolete financial system is showing us that individual empowerment is the new way of doing business. Fintech has created systems which are faster, cheaper and more convenient, so understandably has made customers turn their heads away from the old institutions which had once dominated financial services.

Fintech has been an unstoppable force over the last few years. So far in 2018, the fintech market has already accumulated $41.7billion — up from $39.4bn in 2017, proving the successful trend of taking up consumer-friendly technologies. Last year, 71% of the adult UK population accessed their bank via an online browser or a mobile banking app.

Fintech is a core sector within the Fourth Industrial Revolution, whose main aim is to deploy innovative technologies to give individuals power over their own finances and data.

Key Fintech Drivers:

· Mobile payments

· AI and Machine Learning

· Cryptocurrencies and digital cash

· Blockchain

· Smart Contracts

· Data cloud storage

“Innovation is disrupting financial services and opening up new opportunities and experiences to facilitate transactions and promote financial inclusion. The leading companies in fintech are those which develop technologies with strong use cases,” says Stefania Barbaglio, director at Cassiopeia Services, leading PR agency in the blockchain space.

When taken to a bigger scale, fintech has the power to disrupt entire economies. This scenario is seen especially in developing economies, where bureaucracy and financial exclusion have traditionally prevented certain sections of the population from climbing up the social ladder. Now with fintech in place, many countries are witnessing economic improvements thanks to wider opportunities for people to take care of money and business.

Africa is the land for the fintech revolution to flourish and is showing significant improvements not only at an economic level, but also in improved standards of living and kick-starting of development.

The contribution of the fintech industry to sub-Saharan Africa’s economic output will increase by at least US$40-billion to $150-billion by 2022, according to Financial Sector Deepening Africa. According to Ecobank, the Fintech industry in Africa will be worth more than $3 billion by 2020.

With services like mobile banking, a large part of the population who had always been on the margins of financial inclusion can now access banking services on their mobiles. 57.6% of the world’s 174 million active registered mobile money accounts are located in sub-Saharan Africa

A great example of the transformative power of Fintech is the Kenyan mobile money service M-PESA, which reached 80% of Kenyan households in 4 years. A study found that the mobile money provided by M-PESA lifted as many as 194,000 households — 2% of the Kenyan population — out of poverty.

“Africa has the largest population, resources and potential, yet remains one of the most unbanked regions in the world. There is huge opportunity for fintech to spur economic and societal growth. Technology can streamline and develop financial services and economies towards a more inclusive and equal society” Stefania adds.

Looking at the big picture, fintech has a significant social impact, helping to bring about positive change such as empowerment of individuals and communities over governments and corporations, reduction of financial exclusion, support of SMEs and entrepreneurships, all the while promoting a culture of transparency and accountability.

Fintech: Innovation to drive change

The fintech industry is no doubt one of the most interesting areas to watch right now. The stream of projects emerging in this space promise to reset the way finance is done, and to empower individuals and communities to challenge long-standing power imbalances.

Fintech has enabled the transformation of current finance models and the creation of more efficient tools to handle money matters. Through digital applications which can be controlled by mobile phone, finance is no longer exclusively in the hands of banks. Digital payments, alternative financing and personal finance management places power in the hands of consumers and individuals, who now enjoy a variety of more flexible services tailored to their specific needs.

The coupling of technology and finance in the once-obsolete financial system is showing us that individual empowerment is the new way of doing business. Fintech has created systems which are faster, cheaper and more convenient, so understandably has made customers turn their heads away from the old institutions which had once dominated financial services.

Fintech has been an unstoppable force over the last few years. So far in 2018, the fintech market has already accumulated $41.7billion — up from $39.4bn in 2017, proving the successful trend of taking up consumer-friendly technologies. Last year, 71% of the adult UK population accessed their bank via an online browser or a mobile banking app.

Fintech is a core sector within the Fourth Industrial Revolution, whose main aim is to deploy innovative technologies to give individuals power over their own finances and data.

Key Fintech Drivers:

· Mobile payments

· AI and Machine Learning

· Cryptocurrencies and digital cash

· Blockchain

· Smart Contracts

· Data cloud storage

“Innovation is disrupting financial services and opening up new opportunities and experiences to facilitate transactions and promote financial inclusion. The leading companies in fintech are those which develop technologies with strong use cases,” says Stefania Barbaglio, director at Cassiopeia Services, leading PR agency in the blockchain space.

When taken to a bigger scale, fintech has the power to disrupt entire economies. This scenario is seen especially in developing economies, where bureaucracy and financial exclusion have traditionally prevented certain sections of the population from climbing up the social ladder. Now with fintech in place, many countries are witnessing economic improvements thanks to wider opportunities for people to take care of money and business.

Africa is the land for the fintech revolution to flourish and is showing significant improvements not only at an economic level, but also in improved standards of living and kick-starting of development.

The contribution of the fintech industry to sub-Saharan Africa’s economic output will increase by at least US$40-billion to $150-billion by 2022, according to Financial Sector Deepening Africa. According to Ecobank, the Fintech industry in Africa will be worth more than $3 billion by 2020.

With services like mobile banking, a large part of the population who had always been on the margins of financial inclusion can now access banking services on their mobiles. 57.6% of the world’s 174 million active registered mobile money accounts are located in sub-Saharan Africa

A great example of the transformative power of Fintech is the Kenyan mobile money service M-PESA, which reached 80% of Kenyan households in 4 years. A study found that the mobile money provided by M-PESA lifted as many as 194,000 households — 2% of the Kenyan population — out of poverty.

“Africa has the largest population, resources and potential, yet remains one of the most unbanked regions in the world. There is huge opportunity for fintech to spur economic and societal growth. Technology can streamline and develop financial services and economies towards a more inclusive and equal society” Stefania adds.

Looking at the big picture, fintech has a significant social impact, helping to bring about positive change such as empowerment of individuals and communities over governments and corporations, reduction of financial exclusion, support of SMEs and entrepreneurships, all the while promoting a culture of transparency and accountability.

IOHK/Cardano paving the way for Blockchain-powered development in Africa

In the latest episode of FinancialFox TV, blockchain PR guru Stefania Barbaglio talks to John O’Connor, Head of African Operations at Input Output Hong Kong (IOHK), the team behind the Cardano blockchain and ADA coin. Founded in 2015 by Charles Hoskinson, also co-founder of Ethereum, IOHK is developing decentralised open-source technologies set to cause cascading disruption.

Blockchain PR Guru Stefania Barbaglio interviews John O’Connor, African Operations at IOHK

Cardano represents the third -cryptocurrency, emerging from a group of tech academics and researchers whose core objective is to deploy blockchain technology to disrupt inefficient systems in the developing world.

Blockchain could serve as a superb tool to accelerate growth as it addresses the PROBLEM OF TRUST, which currently holds back development in many parts of the world. Establishing open-sourced far-reaching decentralised systems will help to shift the authority and decisional power, which currently lie with governments and centralized institutions, onto individuals. Thanks to transparency, accountability and scalability features embed in the blockchain, the same level of trust and security can be ensured as new participants enter the network.

Charles Hoskinson, founder of IOHK, says their mission is to develop an efficient decentralised system that can support change in the developing world: “About 3 billion people are unbanked and as the consequence of not having good identity, financial infrastructure; they don’t have the ability to climb out of poverty without a considerable amount of assistance or leaving their country, which creates ‘brain drain’,” said Hoskinson when Cardano announced plans in Ethiopia.

John O’Connor, currently based in Ethiopia, talks about Cardano’s ambitious plans in Africa and latest developments in its first project in Ethiopia.

Watch here interview:

In Ethiopia, where 80 million people work in agriculture, Cardano is leveraging on its unique blockchain platform to spur growth in the agritech sector. Thanks to John, Cardano has entered into an agreement with the local government to apply its blockchain to the coffee supply chain.

John belives that the secret to success in implementing blockchain in developing economies is to understand the specific/local problems and flaws in each country’s underlying systems and apply tailored blockchain applications to address them effectively.

One of John’s initial questions was: “How can we enable the local players to take advantage of this technology to improve their economy and likes?”. The answer is: “Identify a problem and offer the best simple solution”.

The other element of a successful project is having the right local partners and ensure the population is educated about blockchain: “The way is to work with local partners and individuals who are excited about what this technology can do.”

Cardano’s projects in the agritech sector is just the beginning. The aim is to build a solid foundation for other sectors in Africa which could benefit from blokchain in term of transparency, accountability and future growth.

As agriculture employs 70 million Africans, it a fundamental sector in ensuring economic growth. With blockchain agritech applications in place, the population will be empowered to embrace a wider revolution.

Africa is already seen a growing number of start-ups with new ideas on how technology can help drive economy. One example is the company Block Commodities also operating in the agriculture sector. Block is developing a commodity ecosystem that offer lending solutions in cryptocurrencies to Sub-Saharan farmers so they can grow their business and produce under better conditions and terms. Their pilot project has just started in Uganda. Check out for more.

Cardano’s mission is to unlock a new era of development, powered by technology and decentralisation, where individuals become their own masters, relying on their own assets to climb out of poverty and fight unsettling conditions, while taking control back from central authorities.

Despite its innovative spirit, Cardano is not the first business to come up with solutions for the problem of financial exclusion in Africa. The African mobile payment market is largely dominated by the platform M-Pesa, which currently has 30 million users worldwide.

However, M-Pesa is a centralised platform run by telecommunications companies. Cardano, on the other hand, is heavily decentralised and enables the use of smart contracts, a key element to decentralisation and individual empowerment.

Blockchain is revolutionary for developing countries because it targets the core problem: TRUST. Because of its shared, open-sourced structure, blockchain allows for transparency and accountability. Starting with Agriculture, Cardano its looking to deploy its technology into sectors such as land registry, housing healthcare, and gaming. IOHK has recognized the need for the gaming, in particularly, the need to improve its practices in transparency security and transfers, which again could be addressed by decentralized systems.

Blockchain makes it possible for more efficient businesses and partnerships, basically “anything that involves a process, blockchain can improve,” says John.

What this space for more updates on Cardano and blockchain projects in Africa. Subscribe to our FinancialFox YouTube channel for all the latest developments and news.

The UK commits to support sustainable development in Africa

In her visit to Africa, Theresa May shows commitment to boost long-term growth of economies all across the continent and promises the UK and Africa will continue to have strong ties regardless of Brexit outcomes.

The Prime Minister said she wanted the UK to become the G7’s biggest investor in Africa by 2022 — overtaking the position currently held by the US. May also pledged investments of £4bn in the African countries, hoping mainly to spur economic growth to create jobs for the young generations.

During her speech, stressed the multi-billion aid is not only to relieve poverty but instead to support future growth across the country. African growth is in fact in the interest of all economies worldwide; she said: “Between now and 2035, African nations will have to create 18 million new jobs every year to keep pace with the rapidly growing population. That’s almost 50 000 new jobs every single day, simply to maintain employment at its current level. It’s in the world’s interest to see that those jobs are created. If we fail to do so, the economic and environmental impact will soon reach every corner of the world.”

While Brexit negotiations are still ongoing and seem far to an agreement, in Africa, May promised to continue the partnerships with Mozambique and South Africa — even after EU and UK part ways: “Our integrated global economy means good news for British and African people. That is why I will today confirm plans to carry over the EU partnership agreement with the Southern African Customs Union and Mozambique, once the EU deals no longer apply to the UK.”

In order to be truly effective and life-changing, the effort has to come from all levels: “True partnerships are not about one party doing unto another, but states, governments, businesses and individuals working together in a responsible way to achieve common goals,” said the PM.

Indeed, In the private sector, UK-based companies have researched and addressed issues in Africa for a while. Leading Agri-tech company is Block Commodities is a case in point. Reborn from African Potash, previously a fertilizer/commodity trading company, Block is now deploying blockchain technology to create an efficient ecosystem to support increased agricultural output.

The disruptive potential of blockchain technology can benefits significanty developing economies, enabling organic growth at a local level. This is an important and necessary step to consolidate Africa as a global player in the food market.

“Creating a smart network between the farmers and the outer environment is now achievable because of technology… These things are now available for us to use and create a unique solution for farming problems in Africa,” says Block Chairman Chris Cleverly, highlighting the crucial role of innovation in economic and social growth.

Chris Cleverly has been spending the last 2 weeks in Africa, in Uganda for the upcoming pilot project and then South Africa, where he spent time with the Ramaphosa family, and met key people including Kwame Rugunda, son of Ugandan Prime Minister, the son of South African President, Tumelo Ramaphosa, and his wife Tshepo Motsepe. There were also some key players in the blockchain/cryptocurrency space like Cardano and its owner/inventor Charles Hoskinson.

Block Commodities Chairman Chris Cleverly in his recent visit to Africa

Agriculture represents more than 30% of Africa’s GDP and employs more than 60% of its working population. Yet, because of reduced use of resources and inefficient infrastructure, twenty million Africans face food insecurity, particularly in South Sudan, Somalia, Nigeria, Kenya, Ethiopia and Uganda. By 2025, Africa’s annual food is estimated to rise to $110 billion.

Long-term economic growth relies very much on exploiting the potential of the continent, both concerning natural and human resources wisely and the numbers above evidence the urgency which Africa needs sustainable long-lasting solutions.

May’s announcement follows the 2018 Blockchain report from Liquid Telecom which praises tech initiatives at local level and says they are keys to ensure the continent moves forward.

The report highlights Nigeria, Kenya and South Africa as the economies leading tech innovation in the continent.

The core objective of technological advancements is ultimately to bring positive change and improve quality of life. The best way to do so is to understand problems to their root, and develop creative solutions to issues that are proper to one area

“Technology and science innovation is not just the development of new technologies or discoveries but is often the novel application of an existing technology to specific local needs and limitations. In many cases, such breakthroughs are not ‘pure’ technology but rather solutions based on the ability of a local innovator to recognize a challenge, develop a deep understanding of its causes and opportunities, study the local landscape, scan the globe for best practices, and design a creative, implementable approach that is relevant, adaptable and scalable” said HE Ameenah Gurib- Fakim, President of Mauritius (2015–2018) in a speech at the Chatham House.

A new era is surging in Africa thanks to technology.

The power of innovation to disrupt failing systems: The case of African farming and FarmCoin

“Creating a smart network between the farmers and the outer environment is now achievable because of technology… These things are now available for us to use and create a unique solution for farming problems in Africa,” says Chris Cleverly, Chairman of Block Commodities, the UK company empowering African agriculture through blockchain-based technologies and sustainable development.

In today’s world, where traditional barriers are constantly being broken down by the latest technological and scientific advancements, we can start to see how these new innovations can be used to challenge long-standing centralised establishments that have until now towered over all sections of society.

Understanding the particular economic strengths and resources at a more local level is key to tailoring a growth plan that can addresse the untapped potential and develop a sustainable and efficient ecosystem in each country.

In Africa, a continent of more than 30 million square km, land availability is certainly not a problem. The hindrance to economic growth is found in poor management of land resources coupled with inefficient banking practices bound in red tape, leaving most of the farming population on the margins of financial inclusion.

The lack of access to services that developed countries would take for granted leaves millions of Africans unsupported when it comes to financial infrastructure. Loans, credit lines and savings accounts are some of the opportunities which remain unavailable to many.

The rise of new technological structures is here to shake up the status quo, just in good time.

Defining the problem: “Underdevelopment” due to inadequate systems and untapped resources

Agriculture is indeed a huge market in Africa: 700 million Africans are farmers. Yet, despite this figure, Africa is a net food importer, with its annual bill being $35billion, estimated to reach as much as $110 billion by 2025.

The food deficit in sub-Saharan Africa has grown 570% since 2001, reaching over US$40 billion in 2015. Twenty million Africans face food insecurity, a reality particularly tough in South Sudan, Somalia, Nigeria, Kenya, Ethiopia and Uganda.

The region’s largely unsustainable and inefficient agricultural infrastructure, commodity trading systems, and poor resources management have left farmers producing only 50% of the potential that an optimised structure could bring about.

Most farmers in Africa can produce just enough to feed their own families, unable to generate any further income. In Sub-Saharan countries, smallholder farmers represent 70 percent of the population.

On top of that, banking and financial services are a privilege for many in the developing world: there are 3.5 billion of unbanked people worldwide.

The key to developing African agriculture is easier access to fertiliser, which has been until now the real stumbling block. The average global of fertiliser consumption is 135kg per hectare, whereas in Sub-Saharan Africa it is only 17kg, with no increase for decades. With local interest rates for fertiliser purchase going as high as 45% in countries like Zambia, it is nigh on impossible for subsistence farmers to increase their production.

The cavalry arrives: Blockchain, technology and innovation

Block Commodities, in a joint venture with FinComEco, a fully integrated financial and commodity ecosystem, and supported by Swarm, the leading blockchain private equity fund, is working to tackle the inefficiencies within the African farming supply chain, ultimately maximising production and creating a leading Agritech ecosystem powered by blockchain technology.

Deploying blockchain technology to create an integrated commodity ecosystem, Block and its partners have developed FarmCoin, a security investment token that provides a fully regulated infrastructure to the commodity ecosystem working together for ultimate financial inclusion for unbanked farmers in Africa.

Both having extensive experience in the region, Block and FinComEco have identified the opportunity to deploy blockchain and cryptocurrencies to streamline the agricultural supply chain, with the first step being to tackle the extortionate interest rates for farmers who not could otherwise increase their production. Combining their expertise, they have designed an ecosystem aimed at increasing agricultural output within a permissionless environment, free from the constraints of financial institutions; simply empowering individuals.

In the new model Farmer 3.0, farmers are entitled to loans to purchase fertilisers at interest rate of approximately 10%, due to be repaid only after the harvesting period.

However, the project is not only about making interest rates more affordable with blockchain. FarmCoin also enables a whole system with conditions which are much more conducive to optimised farming performance.

FarmCoin is about investing in infrastructure to spur economic growth in African countries via optimal farming performance. The token will provide more efficient and smoother transactions, movement and logistics, empowering wi-fi connections, data processing, soil analysis, transport and vehicle maintenance, drones and satellite — as well as supporting the development of leapfrogging technologies.

Farmers will be able to bring surplus crops to a warehouse to be sold via a FinComEco- facilitated commodities exchange. Once the crops are sold, the warehouse fees and loan interest are paid and the net profit credited to the farmer in FarmCoins, which can be exchanged for goods and services, including at educational and medical institutions.

Blockchain applications also improve the flow of information, allowing farmers and suppliers to keep production records and analyse the farming market more efficiently. Moreover, with increased consumer awareness about sustainability, carbon footprint and responsible farming, blockchain comes in handy as it allows the food chain to be tracked transparently from harvesting all the way to the end consumer.

“The whole development chain can benefit from this token,” says Hirander Misra, from FinComEco, highlighting that increased farming output has the potential to cause a significant increase in African GDP.

“It is all about getting farmers access to fertiliser and develop an efficient ecosystem where they can trade easily. Making use of an integrated supply chain and alternative means of finance, African farmers are now equipped to lift from subsistence farming to commercial level, perform commodity trading and access services to support production growth.

If we can demonstrate we can improve access and efficiencies, we can make a substantial impact in Africa” commented Chris Cleverly, Chairman of Block Commodities and co-founder of FarmCoin.

The pilot project is starting in Uganda end of the summer with 50,000 farmers, and it has full government support.

Rapid technology take-up in Africa has also helped with the success of implementation of FarmCoin. In Uganda, over 70% of people now own a mobile phone. In 2014, this figure was 52%.

FinComEco counts on the support of key technology partners, like GMEX, Saescada and Codel, who provide applications, banking platforms and software to ensure the smooth running of FarmCoin projects.

FarmCoin is designed to provide a strong foundation for farming economies across Africa and beyond, leading the Agritech sector and promoting financial and economical inclusion and growth.

FarmCoin is open for funding via Swarm platform. Click here for more information http://farm-coin.io/invest/

Join FarmCoin Telegram group: https://t.me/joinchat/IRmyjA_OGqVIXtYPXvjq8Q

Blockchain to ensure land and property rights

The blockchain revolution keeps gaining ground worldwide. Offices in developing countries are deploying the technology to upgrade land registry systems and ensure legal compliance over property rights.

The adoption of blockchain indicates that societies are turning to alternative protocols and embracing more decentralised governances in various sectors. Among the many setbacks in developing economies is the lack of proper property registration systems. Most of the existing systems are old-fashioned and inefficient, so lack credibility to ensure legal compliance.

Land disputes are common and very often hurt the most financially vulnerable because without any legal documentation, poorer families have little resources and government support to protect their properties.

Even in otherwise legally protected territories, there can be abuse of power and lack of accountability. In the Amazon rainforest, illicit land grabbers have used fake identification to exploit local resources.

Land and farming is an important means of production and source of income for many families in the global south. The 'dead capital' which is lost due to undocumented properties is estimated at US$20 trillion around the world.

In Ghana, 78% of land is not officially registered, and in Brazil, there is no central registry for properties; these are managed instead by more than 3,000 private registry agents.

Blockchain-based systems are indeed feasible solutions for such issues. Authorities in countries in Latin America, including Brazil and Honduras have partnered with blockchain developers to introduce innovative measures to manage property rights.

Early this month, the government of Bermuda launched the Land Title Registry Office, which is working to move all deeds into electronic format.

Blockchain networks are helpful because they can include all kinds of data to make documents more accurate and safe, including geographical boundaries or serial numbers, and an owner’s identity.

Land and environmental protection can benefit greatly from blockchain-based systems and enhance results for developing initiatives set by international bodies.

International trade expert Leonardo Gonzalez Dellán argues that developing states “need to persevere with the technology, follow the lead of the UN Development Programme and become early adopters of this groundbreaking new way of protecting citizens and enhancing economic opportunity.”