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Colombia to Use Ripple Ledger to Issue Land Registry Certificates

colombia use ripple ledger

The authorities of Colombia announced a new device in order to allow it to use the Ripple Ledger to shop and authenticate belongings titles. The machine, which was advanced with the aid of a third-birthday party corporation referred to as Peersyst Technology, pursuits to permit the National Land Agency to issue a report range of land adjudications for citizens.

Colombia to Register Land Titles on the Ripple Ledger

While the primary uses of blockchain technology are currently linked to assets with transactional value, like cryptocurrencies, there are agencies and governments leveraging it for other uses. The authorities of Colombia will use the underlying blockchain of the XRP asset, the Ripple Ledger, to assist inside the issuance of land titles in the us of a.

The assertion was made via Peersyst Technology, a third-party organization that worked with Ripple to finish the digital implementation of the National Land Registry. The organisation said:

The answer has been implemented for AgenciaTierras is primarily based on xrpstamp which permits to sign up digital belongings on XRPL and verify their authenticity with QRCode.

This means that the new device will permit for the issuance of land-related documents and verification of their authenticity with out requiring third parties for the method.

Goals and Related Projects

The challenge consists of the Ripplebased totally solution to assist normalize the repute of many land owners that still don’t have papers to certify their possession over the land they inhabit. In this feel, Peersyst Technology introduced that this answer aims to certify greater than a hundred,000 land adjudications in a quick time period, to guarantee confidence inside the answer adopted by using Colombia.

There are different, comparable projects in Latam, in search of to leverage the usage of blockchain for various government dreams. The Brazilian Blockchain Network, a project that seeks to build a commonplace infrastructure for institutions to build apps on, aims to enhance the transparency of the authorities function through the usage of blockchain to report every interplay.

Similarly, a cryptocurrency invoice permitted by way of the Panamanian National Assembly, which turned into in part vetoed by means of president Laurentino Cortizo due to money laundering worries, blanketed an initiative to create a blockchain-based totally ID machine to facilitate get right of entry to of ID-associated services for a broader audience inside the country.

Colombia has also these days taken the first steps to adjust cryptocurrency exchanges with a bill being accredited in its first discussion through the Columbian Congress.

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