Colombia Taps Ripple Ledger to Issue Land Registry Certificates

The government of Columbia has sought to tap blockchain technology for other uses apart from its digital assets backing.

The government of Colombia will use the underlying blockchain of the XRP asset, the Ripple Ledger, to assist in the issuance of land titles in the country.

The announcement was made by Peersyst Technology, a third-party company that worked with Ripple to complete the digital implementation of the National Land Registry.

The Ripple ledger will allow for the issuance of land-related documents and verification of their authenticity without requiring third parties for the process.

The project includes the Ripple-based solution to help normalize the status of many land owners that still don’t have papers to certify their ownership over the land they inhabit.

In this sense, Peersyst Technology announced that this solution aims to certify more than 100,000 land adjudications in a short term, to guarantee confidence in the solution adopted by Colombia.

Colombia has also recently taken the first steps to regulate cryptocurrency exchanges with a bill being approved in its first discussion by the Columbian Congress.