Colombia has launched a blockchain project to record land titles.
Peersyst Technology and Ripple Labs will help the Colombian government implement a blockchain project to store and authenticate property titles on XRPL, Ripple’s public blockchain.
The issue of fair land distribution was a key one in the civil war that lasted in the country from 1964 to 2016. The initiative is designed to eliminate the preconditions for continued armed conflict and make land distribution more equitable.
“With the public blockchain, once the transaction is recorded, it can never be deleted. That’s the most important part. If the government system is blown up, the owner of land will still be in a blockchain because it is held around the world in different nodes,” commented Antony Welfare, a senior advisor at Ripple Labs.
He also emphasized that many landowners in Colombia still do not have documents proving ownership over parcels they live on. So there will be more than 100,000 land adjudications recorded in the first place.
The technological developments of Ripple Labs are used in other major international projects. For example, central banks in Canada, Australia, and Israel have created an alliance to develop cross-border payments using the Ripple blockchain network.
