Land LayBy Listing is a trusted shared distributed ledger for recording land and conveyance data that can never be altered, corrupted, forged or replicated in error. A block consists of all details about a certain piece of land. Once a block space is exhausted with transactions, a new block is created and they are linked together through cryptography. The result is a linear and chronological order referred to as Blockchain. Each time a block gets completed, a new block is generated.
There are a countless number of such blocks in the blockchain. The use of cryptography to secure and chain data in the blocks creates an immutable record that is unchangeable by design. Challenges stated have made the simple legal process of buying/selling land in Kenya, a laborious endeavor. Moreover, due to the paperwork involved, the process is prone to errors which are costly to rectify. Land LayBy Listing on blockchain will contain up to date information about a particular land asset.
This makes LLL an independent verification listing and where appropriate a mirror of what was and is reflected in the Ministry of Land registry hence speeding up the process of decision-making in cases where land is the core component of development. The Law Courts admissibility of these records as evidence by design shall provide clarity of ownership in cases of land disputes where the original Land Registry files are missing.
Africa has robust youthful population, who migrate and send home over USD 660B per annum for the purchase of land and other investments. Land records aren’t readily available and are rarely upheld in cases of dispute. Our blockchain platform will create Land LayBy Listing (LLL), a history of immutable and incorruptible land ownership details in most developing countries through empowering the community to participate in listing their land assets.