News

Time Magazine Features Blockchain Startup in ’50 Most Genius Companies’ List

Time Magazine has featured blockchain startup Bitland on the recent list of ‘50 Most Genius Companies’. After asking its global network of correspondent to submit nominations for startups with immeasurable contributions to inventing the future evaluated based on originality, influence, success, and ambitions, Time deemed Bitalnd fit for a place on the prestigious list.
However, with the companies being listed in alphabetical order, it is difficult to pinpoint the position of the blockchain startup.

Bitland; an Emerging Blockchain Startup

Bitland is a notable startup in the emerging sector of blockchain technology as it has made a name for itself. Being the first firm to use blockchain to develop a land registry, the company has now been classified in the Time Magazine’s “50 Most Genius Companies” list.
The Startup which is headed by Ghanaian resident, Narigamba Mwinsuubo, is using blockchain network to facilitate immutable public records of land ownership across countries. The International Monetary Funds (IMF) recently estimated that 90 percent of the land in Ghana is unregistered which might leave victims whose property has been stolen with no legal remedy.
The firm is collaborating with the government officials to ensure that once a land possession is verified by Bitland’s operatives designated to this course, the ownership documentation is done s such a way it cannot be altered retroactively.

Tokenization Makes Assets Tradable

Bitland didn’t get to become a considerable genius by simply registering lands only, as the company has gone a notch higher to the extent of creating a cryptographic token which represents the land using colored tokens on the Bitcoin blockchain. Its tokenization will make it possible for assets like land to be used as a tradable instrument.
According to Bitland’s official website, the Startup has also created an initiative of smart contract governing purchase, lease and rental of assets which can be executed automatically for escrow accounts, wills, shareholders and savings accounts. The resource rights, which are being protected by land right includes water, shared sewages, shared wells, community land, mining, shared cattle as we as other resources.
The firm also created titles on the blockchain using GPS coordinates, a mapping system, PGP keys, and time-stamping services.
The firm, no doubts, deserves to be in the Time Magazine’s “50 Most Genius Companies” list owing to the futuristic approach and the ability of the company to think within the box, think outside the box and ultimate think without the box. The company which operates in seven African nations and India has immense support for the Native American communities in the US.

Related posts
cryptocurrencyDOGEdogecoinDOGEUSDElon MuskNewsTron NewsTRXUSD

As Elon Musk’s SpaceX Literally Sends Dogecoin To The Moon, Justin Sun Craves For Tron to Tag Along

Justin Sun, the CEO of Tron is offering Elon Musk a million-dollar deal, to help launch a satellite for BitTorrent and Tron. The CEO of the leading network has been clamoring for the adoption of the Tron network and its…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTFacebookMark ZuckerbergNewsxbtusd

Facebook’s Mark Zuckerberg Might Have Just Made A Grand Entrance Into The Bitcoin Market

The CEO of Facebook might have just dropped subtle hints on his “Bitcoin holdings.” In a post that has left the cryptocurrency space confused, for the most part, Zuckerberg posted a picture of two of his goats, named Max and…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Software Giant Palantir Joins the Bitcoin Race, Hints At Gigantic BTC Buy

What do Tesla, Time magazine and WeWork have in common? All companies have, in the last three months, announced either a significant investment in cryptocurrency or a newfound acceptance of it as a means of payment from customers. The most…