Virtual Nation Builders
Real World Asset Tokenisation
Unlocking the nation’s land wealth for everyone
REAL World Asset Tokenisation will lead to REAL land reform in Africa.
The history of land ownership in South Africa is complex and deeply tied to the country’s colonial and apartheid past. The arrival of European settlers in the 17th century resulted in a series of conflicts with indigenous peoples over land and resources, culminating in the forced removals and dispossession of black communities under colonial and apartheid rule.
During the apartheid era, the South African government created “homelands” or “Bantustans,” which were designated as separate territories for black South Africans. These territories were often located in the most arid and resource-poor regions of the country, and were meant to serve as a means of controlling and segregating black South Africans from the white population.
The homelands were administered by tribal authorities, who were often seen as puppets of the apartheid government. As a result, many black South Africans were stripped of their land rights and forced to move to the homelands, where they were deprived of basic services and opportunities for economic advancement.
After the end of apartheid in the 1990s, the South African government sought to redress the injustices of the past through a number of initiatives, including the land reform program. This program aimed to return ancestral lands to indigenous peoples and to provide black communities with collective ownership of land in the former homelands.
One of the key components of the land reform program was the establishment of trusts, which were intended to allow black communities to collectively own and manage land. These trusts were intended to empower black communities and give them greater control over their own resources and economic futures.
However, the occupants of the land do not have the ability to take title of the property or the rights attached to the land. One of the more serious consequences is that occupants cannot use the land to raise mortgages that would allow them to develop the land for commercial activities. This has proven to be a major setback in the empowerment of these occupants.
REAL WORLD ASSET TOKENISATION IS THE ANSWER
There is hope on the horizon. Through the power of technology and innovation, there is a solution. Tokenizing the land, or creating digital representations of ownership of property rights, is the key to unlocking the full potential of these properties.
The King of the AmaNdebele, His Majesty King Makhosoke II, has approached Virtual Nation Builders to assist with the tokenization of the land of the Ndebele people, which is currently underutilized in tribal trusts. Virtual Nation Builders has already approached banks to determine their appetite and requirements for granting mortgages against tokenized land.
Virtual Nation Builders is determined to make this a reality and through this project we believe that this will result in the properties true value being unlocked, that jobs will be created, and that this will lead to economic growth in Africa.
The Land Revitalisation Project will tokenise the Kingdom’s traditional land assets. This land register will be created and maintained using ultra-secure and transparent blockchain technology. It will be safer and more accessible than physical land records in the Deeds Offices. All of the Kingdom’s traditional land assets will be created as NFT’s (non-fungible tokens), meaning that they will represent or correlate to a unique physical asset in the physical world but will be recorded digitally. The land register created to record transactions relating to the traditional physical land assets will be known as the “Traditional Land Register”.
This will allow the rights in relation to the land to be traded more freely than they currently can be traded, as there are presently no legal restrictions relating to the trading of NFT’s (whilst there are many relating to the sale and transfer of land and rights in land in the Deeds Office). Creating digital representations of the land enables transactions that currently cannot be registered in the Deeds Office, to be registered in an immutable and transparent land register, which serves as a “parallel” land register to the one contained in the Deeds Office, but which allows additional flexibility in the nature of and number of transactions registered.
It also allows participants in the land rights registration system to be able to create new and innovative land rights, that speak to the unique nature of the manner in which citizens associate with land. For example, the concept of the family home is very important in many customary settings, but is not recognised in ‘western’ South African private property law. With a unique and parallel land register for the Ndebele land assets, entirely new relationships in land can be created to better suit the needs of the participants in the system.
Once the traditional land assets are recorded as NTF’s on the Traditional Land Register, they can be traded or the rights in relation thereto amended at a fraction of the cost of registration in relation to physical land assets, because there is no need to pay conveyancing and bond fees, and through the 99 year lease hold model one would not pay transfer duty.
In addition, because the system is transparent, it is difficult for corrupt persons to cheat the system and obtain benefits that should have been reserved for someone else. It also allows a person looking for funding to apply to a recognised institution for funding based on their digital land rights. The rights of the lender (bank or another creditor) can be recorded in the Traditional Land Register in the same way as they could be recorded in the Deeds Office, or department of Motor Vehicles, or any other government department or registry, and in fact, there is greater flexibility in the types of transitions that can be registered because the assets (the NFT’s) are not subject to the same (sometimes quite) prescriptive rules that land is. It permits leases, transfers, and other amendments to traditional land right bundles to be amended with little restriction at a fraction of the cost, and almost instantaneously (no more waiting three months for registration in the Deeds Office).
This will allow people with registered digital land rights to unlock the value of the land in ways that were not available to them before, and will foster land revitalisation across Africa.
A virtual Kingdom complete with virtual real estate will be constructed for the Nation. Citizens of the Ndebele Virtual Kingdom can purchase their own unique piece of the Kingdom in which they can host guests, interact with other citizens, showcase their virtual art, writing, music or other assets, and even play games against other citizens. These virtual assets are traded using block chain technology, with the result that an immutable, uncorruptible virtual land register showing ownership and any other rights in relation to the virtual land, will be open to all to see. This guarantees the safety and security of the rights to the land in a way that literally no other system on earth does. These assets can be freely traded using block-chain technology almost instantaneously with little transfer cost. The land register created for virtual land, will be known as the Virtual Land Register”.
Join us for a journey into our African Digiverse – The Alkebulan Experience, which is the FIRST step in building a PHOTOREALISTIC metaverse of Heritage in Africa, where real-life objects are brought to life in a digital space. We go beyond a virtual tour and are creating a shared interactive experience to preserve Africa’s heritage. ‘Alkebulan is the original ancient name of Africa and is the oldest and only word of indigenous origin, translating to ‘mother of mankind,’ or ‘the garden of Eden’.
LAND DEVELOPMENT PROJECTS
Funds raised in relation to the above will be utilized for the long-term development, on a physical level, of the Nation’s traditional land assets.
The entire Land Revitalisation Project aims to create jobs and stimulate the Ndebele economy, as well as the larger South African economy.
This Land Revitalisation Project aims to bring about a change, for the better, by leveraging the Nation’s land wealth for the good of all.
The object is to pioneer innovative, inexpensive and effective ways to leverage the wealth of the Kingdom in the form of its land resources, to the benefit of all Africans, through the creation of virtual land, the digitisation and securitisation of traditional land assets and the development of traditional land assets. This allows the Nation to create new forms of wealth (through the virtual land aspects of the project), and to unlock the value of existing land assets (through the digitisation and securitisation of traditional land assets, and the development of such land), with the ultimate goal of utilizing the funds raised through this project to develop the existing land assets to the benefit of all of the citizens of Africa.