2 years ago
The authorities of Colombia announced a caller strategy that volition let it to usage the Ripple Ledger to store and authenticate spot titles. The system, which was developed by a third-party institution called Peersyst Technology, aims to let the National Land Agency to contented a grounds fig of onshore adjudications for citizens.
Colombia to Register Land Titles connected the Ripple Ledger
While the main uses of blockchain exertion are presently linked to assets with transactional value, similar cryptocurrencies, determination are companies and governments leveraging it for different uses. The authorities of Colombia volition usage the underlying blockchain of the XRP asset, the Ripple Ledger, to assistance successful the issuance of onshore titles successful the country.
The announcement was made by Peersyst Technology, a third-party institution that worked with Ripple to implicit the integer implementation of the National Land Registry. The institution stated:
The solution has been implemented for AgenciaTierras is based connected xrpstamp which allows to registry integer assets connected XRPL and verify their authenticity with QRCode.
This means that the caller strategy volition let for the issuance of land-related documents and verification of their authenticity without requiring 3rd parties for the process.
Goals and Related Projects
The task includes the Ripple-based solution to assistance normalize the presumption of galore onshore owners that inactive don’t person papers to certify their ownership implicit the onshore they inhabit. In this sense, Peersyst Technology announced that this solution aims to certify much than 100,000 onshore adjudications successful a abbreviated term, to warrant assurance successful the solution adopted by Colombia.
There are other, akin projects successful Latam, seeking to leverage the usage of blockchain for assorted authorities goals. The Brazilian Blockchain Network, a task that seeks to physique a communal infrastructure for institutions to physique apps on, aims to amended the transparency of the authorities relation by utilizing blockchain to grounds each interaction.
Similarly, a cryptocurrency measure approved by the Panamanian National Assembly, which was partially vetoed by president Laurentino Cortizo owed to wealth laundering concerns, included an inaugural to make a blockchain-based ID strategy to facilitate entree of ID-related services for a broader assemblage successful the country.
Colombia has besides precocious taken the archetypal steps to modulate cryptocurrency exchanges with a measure being approved successful its archetypal treatment by the Columbian Congress.
What bash you deliberation astir utilizing the Ripple Ledger to registry onshore successful Colombia? Tell america successful the comments conception below.
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