Dead capital is an economic term related to property which is informally held, is not legally recognized, and cannot be exchanged for financial capital. The uncertainty of ownership decreases the value of the asset and/or the ability to lend or borrow against it. PwC estimates that Nigeria holds at least $300 billion or as much as $900 billion worth of dead capital in residential real estate and agricultural land alone. The high value real estate market segment holds between $230 billion and $750 billion of value, while the middle market carries between $60 billion and $170 billion in value. The challenge for countries without adequate land management is not simply to build a land registry system but to create a system that is trustworthy, efficient, and free of corruption. It is with this in mind that I came up with the idea to use the Blockchain to solve the problem of land registration using the Blockchain.
In principle, land registries simply need to maintain records of land and real estate ownership, re