Colombia Transferring Land Deeds Onto Blockchain

02.08.2022 11:30
by Sviatoslav Pinchuk
1 min read

The Colombian government has partnered up with Ripple Labs, the company that created the XRP cryptocurrency. Together, they will be bringing Colombians’ land ownership data onto Ripple’s Ledger blockchain.

The move is intended to streamline the Colombian bureaucratic process. However, it also has more political undertones.

Namely, the Colombian Civil War, lasting from 1964 until 2016, was largely waged over land distribution. In theory, having land ownership data on the blockchain is intended to help with the ongoing tension, as the information stored there cannot be altered.

In addition, more than 100,000 Colombians currently don’t have the necessary land ownership papers, according to Ripple Labs. Thanks to this project, they will be receiving proper land adjudications.

Ripple Ledger is an Ethereum alternative, that is being used by many developers to create apps. Ripple made the news in 2020, when the SEC filed a lawsuit for $1.3 billion, accusing the company of making that money while dealing in unregistered securities.

Author

  • Man who simply bought some BTC for domestic needs in 2014 and then forgot about it till 2017. The dude who got Etherium in 2017 by misclick and sold it in 2018 "just to try". Lost 1 Florida house in XEM in 2018, Sviatoslav finally decided to trade reasonably and now he is one of the most analytical and data-driven trader in Crypto Industry. Has Bachelor Degree of Chinese Interpreter and deep practical experience in competitive niches SEO.

Trending news

Subscribe and be in touch
Click here