Colombia to Register Land Titles at the Ripple Ledger

The authorities of Colombia announced a new system in an effort to permit it to apply the Ripple Ledger to keep and authenticate belongings titles. The system, which become developed via a 3rd-celebration agency referred to as Peersyst Technology, objectives to allow the National Land Agency to issue a record wide variety of land adjudications for residents.

Colombia to Register Land Titles at the Ripple Ledger

While the main makes use of of blockchain technology are presently linked to assets with transactional fee, like cryptocurrencies, there are corporations and governments leveraging it for different uses. The authorities of Colombia will use the underlying blockchain of the XRP asset, the Ripple Ledger, to assist in the issuance of land titles within the united states of america.

The declaration changed into made by using Peersyst Technology, a 3rd-birthday party corporation that worked with Ripple to finish the digital implementation of the National Land Registry. The employer said:

    The solution has been carried out for AgenciaTierras is based on xrpstamp which allows to sign up virtual property on XRPL and verify their authenticity with QRCode.

This approach that the new device will permit for the issuance of land-associated files and verification in their authenticity without requiring third parties for the technique.

Goals and Related Projects

The venture includes the Ripple-based way to assist normalize the popularity of many land owners that still don’t have papers to certify their possession over the land they inhabit. In this sense, Peersyst Technology announced that this solution aims to certify more than a hundred,000 land adjudications in a short term, to assure self assurance within the answer followed by Colombia.

There are different, similar projects in Latam, searching for to leverage the use of blockchain for numerous government goals. The Brazilian Blockchain Network, a assignment that seeks to construct a not unusual infrastructure for establishments to construct apps on, pursuits to enhance the transparency of the authorities function by using the use of blockchain to document each interaction.

Similarly, a cryptocurrency bill authorised by using the Panamanian National Assembly, which was in part vetoed by way of president Laurentino Cortizo because of cash laundering issues, covered an initiative to create a blockchain-based totally ID device to facilitate get entry to of ID-associated offerings for a broader target market. 

Colombia has also lately taken the first steps to adjust cryptocurrency exchanges with a bill being authorized in its first discussion by way of the Columbian Congress.

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