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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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ILDIn The Mystery of Capital Hernando de Soto showed how legal property rights are the sine qua non for unleashing the economic potential of assets, for wealth creation. As it turns out, Honduras, one of the poorest countries in the world, is about to register property rights by using blockchain, part of the bitcoin technology. Blockchain’s transparent digital transfer public ledger system of ownership could bring the poorest people in Honduras out of poverty by both documenting their property rights and giving those rights the necessary characteristics to carry out different economic functions.

For this, it is crucial that the holders of informal property be brought into the system and that the information gathered on their properties for formalization truly capture their rights. This is an enormous challenge and we are looking forward to seeing how blockchain performs in helping to bring the poor of Honduras into a digital economy.

By By Gertrude Chavez-Dreyfuss | Reuters – Fri, May 15, 2015

NEW YORK (Reuters) - Honduras, one of the poorest countries in the Americas, has agreed to use a Texas-based company to build a permanent and secure land title record system using the underlying technology behind bitcoin, a company official said late Thursday.

Factom, a U.S. blockchain technology company based in Austin, Texas, will provide the service to the government of Honduras, the firm's president, Peter Kirby, said. The company is doing the project with Epigraph, a title software company that uses blockchain technology, also based in Austin.

Factom would not reveal the cost of the project. Honduras would become only the second government to use blockchain, which increases transparency in a transaction, to manage government data, after reports that the Isle of Man would test a government-run blockchain project.

To read the complete article, please visit Yahoo! news

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