On Life, love and Politics

"Random musings about Life, love and Politics. Just my open diary on the events going on in the world as I see it."

The impacts of the digitization of land records in poor countries May 21, 2009

Among the many solutions to address the aches which plague developing nations and its people, competent and caring leadership and therefore the perpetual conception and implementation of productive initiatives is likely on the forefront of the list of antidotes. One such solution that I believe would have multiple benefits in terms of increasing the government coffer, employment, the extention of credit, economic activities and helping to reduce fraud and corruption in the real estate sector is to make the current archaic land records of poor nations accessible via the internet.

It's well established that the poor countries of the world are in fact not so poor considering that a greater number of its population owns a piece of real estate, but this asset is not given the full measure of its value mainly due to the lack of reliable and easily accessible data which can help to determine the specific location of the asset, its description and dimensions, its past sale information and present ownership. The availability and easy access to such data via the internet would as it can be well deduced and further elaborated bring fort


h the benefits mentioned earlier.

The United States has the highest concentration of wealth in the world which is easily attributable to the entrepreneurial and innovative spirit of its citizenry. This wealth is primarily derived from its small business sector which is also its highest generator of employment. These small businesses in large majority were initially financed with a loan secured by the business owner’s real estate property. This was made possible by the systemic and efficient collection, updating, conservation and ease of access of data on every identifiable piece of real estate which in turn has provided buyers, sellers, bankers, developers , lawyers, insurers, appraisers, real estate professionals and the local and national governments the confidence and convenience to transact, thereby generating the ripple effects of greater economic dividends for the country.

How to and who would pay for such a project which would need to be implemented at each
municipality? That's the easy part. There must simply be the understanding of the potential benefits and the will for its implementation at both the national and local governments.

 
Christian Tawamba Mbouende
Real Estate Banker & Developer
 

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