Colombia uses Ripple’s XRPL Blockchain for Land Registry

Key Takeaways

  • Ripple and Barcelona-based Peersyst Technology are working together to integrate the blockchain for AgenciaTierras.
  •  Ripple CTO announces the launch of Clio 1.0, a XRP Ledger API server that provides access to XRP transactions and data.

Ripple and Peersyst Technology have announced the launch of Colombia’s first National Land Registry, which is based on the XRP blockchain. This project took a year to complete and was based on cooperation between the two companies.

This solution is integrated with Colombia’s national land agency AgenciaTierras, where more than 50 million Colombians now have access to the first national property registry on the XRP Ledger (XRPL), according to partner Ripple Peersyst Technology, a software and blockchain development company.

The Barcelona-based company disclosed this information in a tweet on July 1 and added that it has been working on the project with Colombia’s “Digital Government” initiative and the country’s Ministry of Information and Communications Technology for more than a year.

Ripple CTO Joel Katz shared the release of the XRP Ledger API server, Clio 1.0, which aims to increase the scalability of access to XRPL information. Clio 1.0 is designed to enhance API request output, enable simpler horizontal scaling, and reduce recollection utilisation and storage overhead.

According to a recent analysis by on-chain analysis firm Santiment, XRP is currently experiencing a surge in active days. Over 200,000 XRP addresses for the first time since 2020.

The project will utilize XRP Stamp, a blockchain-based effort to verify and authenticate digital documents and data on the XRP Ledger, a ledger that will be used by the National Land Service (XRPL). The data is then saved on the blockchain for further use. With the use of QR codes authenticity will be guaranteed.

Colombia’s Ministry of Information Technology and Communications, led by Minister Carmen Lysia Valderrama, has been praised by Peersyst Technology for opening the door to blockchain technology and demonstrating its commitment to transparency.This project includes a ripple-based solution that helps normalize the status of many landowners who do not yet have documentation to prove ownership of the land they live in. 

In a recent announcement, Peersyst Technology said that its solution will certify more than 100,000 land adjudications in a short period of time, which will build confidence in the solution adopted by Colombia.

Colombia has also recently taken the first step towards regulating cryptocurrency exchange with a bill approved in the first discussion by the Colombian Parliament. 

Measures enacted by the Colombian Parliament earlier last month to protect citizens from the risks of crypto-related Ponzi schemes have clarified how crypto exchanges operate in the country.

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Aadrika Sharma

I enjoy writing and try to learn new things every passing day!

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