American journal Time Magazine has included a blockchain startup in its recent top 50 “Genius Companies 2018" list, published Thursday, October 4.
In putting together the list, the magazine asked their editors and correspondents to name "businesses that are inventing the future." Influence and success were among the criteria for the choice. Bitland, a blockchain startup based in Ghana, joined the list along with giants like Apple, Netflix, SpaceX and Domino’s.
As Cointelegraph reported earlier, Bitland, founded by Ghana native Narigamba Mwinsuubo, uses blockchain to register local land. Bitland cooperates with local authorities to help record property rights in a decentralized, immutable format.
Ghana is not the first African country to take on land property issues using blockchain. In August, the Zambian government announced its partnership with the blockchain-based land registry subsidiary of American retail giant Overstock.
In other examples of blockchain being used globally in the real estate industry, the Swedish government officially started using tech to register land back in summer 2017, while earlier that year, Georgia initiated a project to register its first property on the Bitcoin blockchain.