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Continued from page 1 real estate assets to eREITS. As markets develop

As such, blockchain transaction systems make it possible and begin to grow in complexity, we expect the
to transfer ownership of an asset from one person to number of use-cases follow the same trend. The
another, without the need for an intermediary, a feature next couple of years represents an exciting time for

which can transform how stakeholders interact with each the ever-growing Ghanaian real estate sector and
other in the housing delivery value chain. offer us the unique opportunity to engage and
collaborate towards writing a new chapter in the
A natural connection is made between all parties on a
Ghanaian real estate sector.
system, so property developers are directly linked to the

lending institutions, with full transparency and a real-
time view of finances. As a result, the time and expense
required for “know-your-customer” (KYC) and due
diligence procedures are drastically reduced — a cost
which is often pushed on to the property developer.

Collateral risk and credit risk algorithms programmed

into instructions generated by digital contracts enable

financial institutions and property developers to manage
and automate the settlement process as well.

Now, how does this apply to the present Ghanaian

property market? BenBen, a Ghanaian based blockchain
property market data and housing transaction firm, has
positioned itself as of one the most innovative blockchain

proptech brands on the continent. Founded by

Emmanuel Noah in 2015, the company has worked with
organizations such as the United Nations Foundation,
and the Danish Ministry of Foreign Affairs, on various
blockchain advisory and research projects. In 2016,
BenBen was accepted into the Barclays Accelerator
Program - a world renowned incubator program focused

on nurturing seed stage tech companies. After three
months of rigorous mentorship, and product
development, the company graduated from the program
securing a 6 month proof-of-concept with Barclays Bank.
Currently in its growth stage, BenBen has since run
consecutive pilots with several leading local financial
institutions and continues to offer portfolio
management, registration tracking, housing finance
origination and property market data services to the

Ghanaian real estate sector.
Several other use-cases exist ranging, from unitization of The writer is the CEO of BenBen (a Ghanaian
blockchain Proptech firm)

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