XRP News: Colombia Launches National Land Registry On XRPL

July 1, 2022 3:19 pm Comments

The country of Colombia just announced that it has launched its National Land Registry on the XRP ledger as part of its initiative to improve the country’s blockchain capabilities.

This recent development will be done in collaboration with the blockchain development company Peersyst which has partnered with Ripple in order to make this launch possible.

As a result of this launch, the government will essentially be able to issue digital certificates that utilize XRP’s stamp technology.

This is one of the first times that a government entity has decided to use the blockchain in such a widespread manner and its decision to utilize the XRP ledger will likely accelerate more adoption for the blockchain.

Bitcoinist.com reports:

Via their official Twitter account, Peersyst said their solution will be used by Colombian’s National Land Agency. The government entity will be able to issue digital certificates, validated and verifiable via QR codes.

The platform uses the XRP Stamp technology for its certificates. Developed by Peersyst on the XRPL, this technology enables anyone to remove friction from certifying a document with blockchain technology.

The XRP Stamp is a decentralized, secure, and cross-service tool. Peersyst said the following on their XRPL-based solution and its implementation for the government agency:

The solution has been implemented for Land Agency is based on xrpstamp.com which allows to register digital assets on XRPL and verify their authenticity with QRCode.

The solution will register +100k adjudications in a short term to guarantee confidence for Colombia.

The government in Colombia in general has already been looking into several blockchain initiatives to be used by a variety of government agencies.

This particular project has already been worked on for over a year with Ripple and there is potential that there will be future government initiatives that will continue to utilize XRPL.

A recent Ripple survey also indicated that Latin America is one of the regions that will likely adopt blockchain the quickest.

The survey incorporates feedback from over 1,600 financial institutions which indicates that there is massive demand and interest within the region.

U.today concludes:

The solution has been implemented for Colombia’s National Land Agency “AgenciaTierras” and is based on the XRP stamp, which enables digital assets to be registered on XRPL and their authenticity to be verified with a QR-code.

The solution hopes to register more than 100,000 adjudications in the short term to guarantee confidence for Colombians.

Apart from utilizing the XRPL blockchain, Peersyst Technology is also a longstanding Ripple partner.

Its connection with Ripple is expressly mentioned on its official website. It also spoke of its renewed alliance with fintech company Ripple in a recent tweet: “Excited to renew our alliance for the following year as the trusted blockchain company bringing tech with our partner Ripple.”

It may only be a matter of time before the rest of the countries within Latin America start to adopt XRPL as well.

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