The Kenyan government is turning to blockchain technology to build 500,000 houses by 2020.
Making this known in Nairobi, Charles Hinga, principal secretary of housing and urban development said this project would also address the country’s housing deficit.
Through blockchain technology, Hinga said Kenya hopes to provide housing for citizens that earn below the national threshold for decent housing that stands at 100,000 Kenyan shillings (992 dollars).
“Blockchain technology will ensure rightful owners live in government-funded housing projects,” Hinga stated.
Aalysts say this could help alleviate fears of land grabbing and give citizens an immutable record that proves ownership of property.
Eligible citizens will be matched by their employers from January 2019 and will contribute 1.5 percent of their basic salaries in line with the Kenyan Finance Act of 2018.
But those who earn above 100,000 Kenyan shillings will be refunded on their contributions in 15 years.
Kenya is revered around the African continent for being one of the first countries to make science and technology the driver for economic, social and infrastructural development.
Many say this has gotten stronger backing from President Uhuru Kenyatta, who has made ICT the central policy of his government.
Cloud computing has overtime helped to improve the fortunes of small and medium scale busi…