Kenyan Govt To Use Blockchain to Distribute govt-funded housing units
The Kenyan government has planned to employ blockchain technology for the distribution of new government-funded housing units. This means using Blockchain to Distribute the houses.
According to STAR, The Kenyan National Housing Fund will finance the initiative under the Finance Act 2018, and it plans to create an efficient allocation of the houses to those who need it using the distributed ledger technology.
Charles Hinga, the State Housing and Urban Development Permanent Secretary said the Fund expects to raise about Sh55 billion a year (around $545 million) to build “cheaper 500,000 housing units.”
The Star quoted Cabinet Secretary for Transport and Housing James Macharia who said the nascent technology would be used to distribute housing to deserving applicants in a bid to address past issues concerning “graft fears arising from beneficiaries and even legislators.”
“Kenya will use blockchain technology to ensure the rightful owners live in government-funded housing projects.”
Kenya is one of Africa’s leading countries regarding blockchain and cryptocurrency development. Some of the region’s largest blockchain remittances originated from Kenya.