Colombia to Use Ripple Ledger to Issue Land Registry Certificates

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Categories: Cryptocurrency

Colombia to Use Ripple Ledger to Issue Land Registry Certificates

While the main uses of blockchain technology are currently tied to assets with transaction value such as cryptocurrencies, companies and governments are taking advantage of it for other uses. The government of Colombia will use the underlying blockchain of the XRP asset, the Ripple Ledger, to aid in the issuance of land titles in the country.

The project involves a Ripple-based solution to help normalize the situation of many landowners who still do not have papers to prove their ownership over the land of their residence. In this sense, PeerSist Technology announced that this solution aims to validate over 100,000 land decisions in a short period of time, to guarantee confidence in the solution adopted by Colombia.

There are other similar projects at LATAM, which are trying to leverage the use of blockchain for various government goals. The Brazilian Blockchain Network, a project that seeks to build a common infrastructure for institutions to build apps, aims to improve the transparency of government actions by using the blockchain to record every interaction.

Similarly, a cryptocurrency bill approved by the Panama National Assembly, which was partially vetoed by President Laurentino Cortizo due to money laundering concerns, calls for blockchain-based IDs to facilitate access to ID-related services for a wider audience. The initiative to build the system was involved. Country. Colombia recently took the first steps to regulate cryptocurrency exchanges, with the bill being approved by the Colombian Congress in its first discussion.

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