A land registration dApp providing proof-of-fact ownership through legally-binding title deeds registered on Cardano.
Landano is aiming to help accomplish the UN’s #1 Sustainability Development Goal: end poverty in all forms everywhere; through financial empowerment in the real world using blockchain as a proof-of-ownership tool for the ownership of land and property. Many people own land but cannot prove that they do. Through the Landano dApp property owners will be able to create legally binding title deeds and make verifiable claims of ownership that they can then use for various RealFi purposes, e.g. opening a bank account or taking out a loan.
NFTs Backed by Proof-of-Fact
The Landano team will work with local Land Commission officials to make sure that the land registered on Cardano is backed by the correct documentation that has been filed with the relevant land commission agencies and government registry offices.
All the records used for land title registration and verification are preserved in the decentralized record keeping service Orcfax. The title deeds and supporting documents for each land claim are notarized as NFT documents on Cardano, usable as proof-of-fact for proof-of-ownership. A separate NFT is then generated for each registered land title and these are synced with tokenized copies of official government land registration maps, called cadastres on the Landano dApp.
The use of NFTs to represent these title deeds means that there can only ever be one verifiable owner for each plot of land.
Landano is incorporating the decentralized identity solution Atala PRISM developed by IOHK. Using this identity solution as well as the decentralized data storage in Orcfax helps to reduce the user’s reliance on the financial and other 3rd party insitutions that have had a hand in the governing of land title registries for so long.
Landano is not aiming to replace legacy systems that already work. The focus of Landano is where these registries either do not exist or are of poor quality. By focusing here Landano aims to empower marginalized people and remove barriers to entry to the finical world.
Landano plans to create a self-sustaining DAO to govern the protocol. This DAO will subsidize the cost of legal fees and further development of the dApp and expansion of where it is used. This is all funded by a treasury that itself is funded by an initial treasury endowment that is then supplemented through ADA staking rewards and transactions fees paid with the platforms utility token.