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South Africa’s First Ever Blockchain-based Property Register Pilot

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Property Register Pilot

The Centre for Affordable Housing Finance in Africa (CAHF) (HousingFinanceAfrica.org), research consultancy 71point4 and Seso Global have partnered to develop South Africa’s first blockchain-based property register. The pilot study area consists of almost 1 000 properties located in four sites in Makhaza, Khayelitsha. All the properties are Government-subsidised properties that have not yet been registered on Deeds Registry.

CAHFAccording to Daniel Bloch, the CEO of Seso Global, a blockchain property registry company, this will be the first working example of a blockchain-based property registry in South Africa. Aside from creating an immutable record of who owns which house, the Seso platform facilitates and records transactions such as sales and transfers out of deceased estates and integrates with third parties who facilitate transactions, including mortgage lenders. “For the time being, property owners will record these transactions at the Transaction Support Centre, a walk-in housing advice office created by CAHF and 71point4 located in the area. But over time, we will record transactions through the Seso app” says Bloch.

The benefit of the blockchain solution is that it allows the data to be stored in a decentralised, secure database that can be updated without any loss of historic data. This means there is a secure, back-to-back record of all transactions that is completely tamper-poof. Eventually, the vision would be to integrate this record into the Deeds Registry when other impediments to transfer have been removed.

South Africa has a serious titling problem. According to Kecia Rust, the CEO of CAHF, the government has built over three million RDP houses since democracy. But CAHF’s analysis of deeds office data indicates that only 1.9 million of these properties have been registered. The National Department of Human Settlements, Water and Sanitation (NDHSWS) estimates that the title deed backlog for RDP properties built prior to 2014 currently stands at 511 752. These properties were given to beneficiaries, but no title deeds were registered and handed over. At the same time, there is a backlog of 351 470 title deeds on newer properties.

Registering these properties so long after they were built and handed over to subsidy beneficiaries is an administratively complex task. In some cases, original subsidy beneficiaries are no longer living in the properties. Some beneficiaries might have passed away, some might have tenants in their properties while others have sold their houses informally.

“To create a register of property owners we first had to go door to door to find out who lives in each property and to establish how they came to be there,” says Melzer, founder and lead consultant at 71point4. “We hired a team of 17 enumerators and trained them to collect information and capture supporting documents. Thankfully we can leverage smartphone to collect the data, but it still requires a significant effort. It took us two months to cover these areas.”

But the effort is well worth it. Properties in the area sell for over R200 000 informally – and would sell for more if they were listed on a trusted registry and were ‘bankable’. This would enable buyers to obtain mortgage finance and create affordability. Without access to mortgages, buyers have to pay cash for a house or use an expensive unsecured loan. There are also significant benefits to the City of Cape Town of being able to access an accurate and up-to-date record of property ownership. Without it, the City cannot collect revenue from households in the area who are not indigent nor can City departments facilitate building plan approvals.

Next steps

cape townIn many cases in the pilot areas, the original beneficiary is still living in the property. “We hope that these properties can be registered in the deeds registry within a few months, and we are working closely with the City of Cape Town to facilitate that,” says Melzer. “Where the beneficiary no longer lives in the property, we are in the process of tracing the beneficiary to confirm information we have gathered on who owns the property. We will also be working closely with the City on a resolution process where ownership is disputed.”

It will take some time before all the required information has been collected and validated. It will also take time for validated properties to be registered on the deeds registry.  In the meantime, we will enable property owners and occupants to keep those records up to date.

“We will also be using Seso’s platform to manage other client service requests that come to the Transaction Support Centre from all over Cape Town,” says Rust. “These include helping clients to regularise informal sales and wind up deceased estates. Going forward, as the country moves towards an electronic deeds registry, we hope the lessons we have learned will provide valuable evidence to inform the development of accessible, secure, affordable and efficient mechanisms to facilitate property market transactions. This is important across the market, but particularly in entry-level segments of the market where existing mechanisms are simply too costly”.

CAHF, Seso Global and 71point4 have a working agreement to extend this pilot into other areas and use cases. There are hundreds of thousands of RDP properties around the country where no primary transfer has taken place. In addition, in many areas where title deeds were issued, property owners have transacted informally, which means there is no longer an accurate record of ownership at the deeds registry. Blockchain-based solutions can help there too. Blockchain can also enable households who live in informal settlements and rural areas to record and maintain land records and secure their rights. “We are very pleased with the pilot results. We think the solution we have developed is scalable and replicable,” says Bloch. That does not mean it is easy but “blockchain technology together with the potential value we can unlock makes it worthwhile,” says Melzer.

Disclaimer: This is a press release. Readers should do their own due diligence before taking any actions related to the company, product or service. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release.

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Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

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Mercuriex

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange, the new owners, London-based SurfTheWeb Ltd, have started to take steps towards expanding operations to a global userbase, as outlined in their Whitepaper and Roadmap.

As part of their plans for expansion, they have developed a new Exchange Utility Token (an E.U.T.) called SurfExUtilityToken (SURF) and have employed the services of LATOKEN to host their initial exchange offering for SURF token. The IEO officially opens on 23rd March 2020. LATOKEN is one of the world´s largest cryptocurrency exchanges and arguably one of the most successful launchpads for company IEOs and token sales.

As above, the Surf Token IEO officially opens to the public on Monday 23rd March. As a special offer, SurfTheWeb Ltd has arranged with LATOKEN to give a massive 50% discount to LATOKEN users who purchase SURF in the first week of the IEO. The IEO is due to end on 24th April 2020 (or before if all SURF tokens are purchased before the closing date).

As stated on the LATOKEN landing page for the SURF IEO, all funds raised from the upcoming sale will be used directly for expanding operations of the exchange, including hiring and training new support staff globally, obtaining global licenses, improving and expanding the exchange infrastructure, providing market liquidity support services and more.

According to the SurfExUtilityToken Whitepaper, SURF will be integrated into all levels of the exchange, allowing exchange users to pay trade-fees with SURF as well as earn SURF through referral commissions, giveaways, and competitions hosted by the exchange owners in the future.

SurfTheWeb Ltd has also stated that it will be accepting SURF as a form of payment for services on the exchange, such as listing new coins and hosting IEOs for other companies and crypto developers.

MercuriexExchange Utility Tokens are not a new idea. In fact, we have seen several exchanges create their own unique exchange tokens in the last few years. Some of these exchange utility tokens have been extremely successful in terms of monetary gains, with some increasing in price as much as 40,000% between launching and all-time highs (ATH). However, for the exchanges themselves, these tokens represent much more than monetary gains, these tokens can help to foster loyalty with the exchanges users directly, who will opt to stay and trade on an exchange when the token offers them an edge over another exchange where they perhaps not have the ability to get discounted trade fees.

Mercuriex Exchange users who opt to pay their trade-fees with SURF can receive very generous discounts on their trade-fees, on market-orders this will be 50% discounts on trade-fees, but users will also have the ability to gain 0% (Zero percent) trade-fees for limit orders (limit orders are orders placed onto the order books, as buy orders of sell orders), if the user maintains a specified amount of SURF tokens in their Exchange Account.

As outlined in the SURF Whitepaper, the allocation of SURF token is as follows, further details can be found below;

  • Max Supply; 250,000,000 (100%)
  • Exchange Reserve; 100,000,000 (40%)
  • Public Distribution; 75,000,000 (30%)
  • Exchange Staff Wages; 25,000,000 (10%)
  • IEO Sales; 50,000,000 (20%)

The Exchange Reserve is an emergency fund. SurfTheWeb Ltd has said there are no plans to access this reserve unless in an emergency situation. In December 2020 they will start to verifiably burn 10 million SURF tokens per month until all 100 million reserve tokens are destroyed, this will effectively reduce the total supply to just 150,000,000 SURF Tokens.

Public Distribution of 75 Million tokens will likely take 3-4 years to be fully distributed to exchange users. The distribution will take the form of sign-up bonuses, referral commissions to users who invite others to trade at the exchange, giveaways, and competitions.

Exchange Staff Wages 25 Million tokens. This fund has been allocated to pay the wages to exchange staff members until such time that the exchange is fungible, after which time this fund will be used as incentives and bonuses to staff members.

IEO Sale of 50 Million tokens. 5 Million Tokens are being sold in Pre-Sale and 45 Million tokens will be sold in the public IEO hosted by LATOKEN starting Monday 23rd March 2020.

As stated on the LATOKEN IEO landing page, the Mercuriex exchange is built from the ground up, meaning there is massive scope and versatility for expansion and growth, this is not a turn-key or white label exchange. The exchange supports high-volume / high-frequency trading and employs a clutter-free simplified user interface.

Sign up to join the SURF token IEO at LATOKEN

You can also stay up to date with the latest news by joining the official exchange Telegram channel and checking the Surfex website where there is a News & Updates section, and of course, sign up to the Mercuriex Exchange where you can currently access 0% (Zero percent)  trading until the end of March 2020.

Disclaimer: This is a paid press release. Readers should do their own due diligence before taking any actions related to any company, product or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this press release. 

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5 Reasons to Invest in the WhiteStripe Project

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WhiteStripe

The 21st century is, unambiguously, the century of hurricane development of technologies. This is an amazingly interesting time that gives modern users great opportunities. Those principles and foundations that were applicable before today are questioned and even ostracized.

Several centuries ago, the state was the main instrument for ensuring the observance of the law and fair conditions of human relations. Today, humanity has come up with a technology such as blockchain, which allows us to ensure a high level of honesty and transparency in almost all areas of our lives: from complying with laws to holding fair draw games and lotteries.

WhiteStripe is a spectacular example of the non-standard use of blockchain technology. WhiteStripe is a cryptocurrency lottery, the prize fund of which is formed through mining. Moreover, not only a professional large miner can participate in it, but also anyone who just mines on a simple computer. The range of participants is almost endless.

Why is it Worth Paying Attention to this Particular Project?

Daily draws. There is no need to wait for a certain moment and save money. Everything is fast, simple and clear – a new day, a new draw and new opportunities to increase your capital.

If you bought WSLT tokens, then you made the right choice. Indeed, all owners are provided with a daily incentive for owning WSLT, which will also help you to increase your financial capital.

Forget about the long search for correct information, passing control and the need to adapt to the conditions of the project. Everyone can participate in the White Stripe project. The audience is not limited, the coverage is enormous.

WhiteStripeEach miner has the opportunity to become part of the White Stripe project. And you don’t need to do anything, you just have to try your luck. The more powerful the mining, the greater the opportunity to get the very that happy ticket with a big prize. But for owners of weak equipment there are solutions for making money (read more on the site).

Connecting is easy, even if you haven’t had such an experience before. Simple registration takes just a couple of minutes – and that’s it, you are a member of the White Stripe project. 

White Stripe is a project which is able to change the procedure of earning in the cryptocurrency market. All the best in blockchain and cryptocurrency is collected in one place. And everyone has the opportunity to become part of a large project that can change the future. If earlier you could earn only on the purchase, sale and growth of coins, now you can get rewards just by owning WSLT tokens.

Become a part of the ICO White Stripe and open your way to the future with financial independence. Start: April 5, 2020.

Read more about the project on the website: https://landing.wslottery.net/

Disclaimer: This is a paid sponsored post. Readers should do their own due diligence before taking any actions related to any company, product or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this sponsored post. 

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Press Releases

The Practical Use Blockchain Technology And Digital Asset Bootcamp

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Blockchain Technology And Digital Asset Bootcamp

Knowledge is appreciated better when one can apply it in practical situations. Therefore, Blockchain African Ladies in partnership with Crypto fortune and Binance as supporting partner presents you with a 2-day bootcamp that will empower you with practical applications to help you achieve financial independence linked to Blockchain technology and digital assets.

Step-by-step guide on how to monetise digital assets in this new decade including career opportunities available in the blockchain industry.

How to leverage enterprise use cases of Blockchain technology in order to improve systems and processes.

Lagos state – Blockchain African Ladies will hold a 2-day bootcamp powered by Blocktech Women Conference with CryptoFortune as a major partner and Binance as a supporting partner.

Media partners include CryptoTv Plus and Coingecko. This 2-day bootcamp will impact and teach you the applications and benefits of Blockchain and cryptoassets. Blockchain technology and digital assets have impacted and influenced the tech and financial worlds in the last few years. With education and practical guides, people can adopt this emerging technology and gain financial freedom through it.

“The blockchain is all about bringing in transparency and efficiency into the existing systems which are running the upstream and downstream supply chains and making them more proactive and predictive.” Rahul Guhathakurta, The Age of Blockchain: A Collection ofArticles

Blockchain Ladies AfricaBlockchain technology and digital assets have intrinsic value and abilities that will make them stand the tests of the financial market and scale-up. Hence, it will create a wide range of career opportunities and financial investment options for individuals who want to increase their streams of income and skillsets. Today is early enough to cash into digital assets because very soon, the industry will become too competitive and this will hike the value.

Blockchain African Ladies in partnership with CryptoFortune will break all these down over lunch and dinner on the 1st and 2nd May 2020.

LEARN ABOUT THE OPPORTUNITIES IN THE BLOCKCHAIN INDUSTRY, PRACTICAL/HANDS-ON SESSIONS ON CRYPTOCURRENCY TRADING AND INVESTMENT PORTFOLIO MANAGEMENT STRATEGIES, UNDERSTANDING LEVERAGE TRADING, RISK MANAGEMENT IN HOLDING DIGITAL ASSETS, SATOSHI VALUE (MEASUREMENT OF BITCOIN) WORLD BIGGEST DIGITAL ASSETS, 2020 DIGITAL WEALTH ACCESS.

JOIN THE DIGITAL WEALTH ACCESS BOOTCAMP FOR JUST $100 – LADIES ACCESS: $60

Register now: https://event.blockchainladies.africa

There is no amount too high to pay for value because the value will always reproduce value. Itisimperativetoparticipateinthisbootcamp, be one of the early birds to signup. The bootcamp will include lots of practical and mental exercises, therefore, registration before the event is vital to participating in this high rated blockchain bootcamp.

“I describe Bitcoin as “a digital version of gold” eGold.” Arif Naseem

Practical use case of Blockchain technology and digital assets 2-day bootcamp is an opportunity you cannot afford to miss. Come and receive strategies from experts in the field

Blockchain African Ladies is a non-profit organization targeted towards Blockchain education and financial inclusion. 

Disclaimer: This is a paid sponsored post. Readers should do their own due diligence before taking any actions related to any company, product or service mentioned in this article. BitcoinAfrica.io is not responsible, directly or indirectly, for any loss or damage caused by or in connection with the use of or reliance on any content, product or service mentioned in this sponsored post. 

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