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  • The 2017 Global Award for Entrepreneurship Research goes to Hernando de Soto

    The 2017 Global Award for Entrepreneurship Research goes to Hernando de Soto

    The Global Award for Entrepreneurship Research is the most prominent international award in entrepreneurship research with a price sum of EUR 100,000. De Soto’s analyses have had tremendous influence on policy throughout the world and were a main source of inspiration for the World Bank’s Doing Business program. Read More
  • 2017 Award Winner

    2017 Award Winner

    Hernando de Soto Peru  Institute for Liberty and Democracy For developing a new understanding of the institutions that underpin the informal economy as well as the role of property rights and entrepreneurship in converting the informal economy into the formal sector.   Read More
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People's homes are most often their biggest asset -- something that can be borrowed against to start a business or secure a safe retirement. In the developing world, property titles take on even more meaning. Peruvian economist Hernando de Soto, for example, has identified trillions of dollars of "dead capital" in the developing world: people living in the world's poorest slums own their homes, but without formal titles they can't easily sell, appraise, insure or borrow against those assets.

Here, too, the timestamped power of the blockchain could help. Using this decentralised ledger to keep track of the many transactions that accumulate over time with a specific land deed could greatly reduce both the costs and headaches associated with managing them. The blockchain's interoperability should also mean that these benefits can be carried across borders so that data from different land registries apply across geographic zones.

Read the rest of the article on the Wired

 

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