The Colombian government wants to use Ripple’s blockchain to record who owns which piece of land. This digital, national land registry was developed by Peersyst Technology, a partner of Ripple, and built on the XRP Ledger.
First national land registry launches on XRP Blockchain
Peersyst Technology announced through a tweet on July 1 that it had been working on the project for over a year with Colombia’s “Digital Government” initiative and the country’s Ministry of Information Technology and Communications.
The project will be used by the Colombian National Land Agency using XRP Stamp. This is a blockchain-based initiative that allows digital files and records to be verified and certified on XRP Ledger. The information is then further stored on the blockchain. Authenticity is verified using QR codes.
Symbiotic collaboration
Peersyst Technology expressed gratitude to the Colombian Ministry of Information Technology and Communications, and Carmen Ligia Valderrama, the minister who heads the government agency, for opening Colombia’s doors to welcome blockchain technology, and also that they stand for transparency.
Ripple and Peersyst have been working together for a long time, for example, most of Peersyst’s blockchain-based projects are built on the XRP blockchain. You could say that they have a kind of symbiotic relationship and reinforce each other.
LTO Networks and national land registry in Afghanistan
By the way, the registration of land/land through the blockchain is not a new idea, it has just never been properly implemented. In late 2020, LTO Networks announced it was working with two United Nations working groups to open a land registry on the blockchain.
The first country to roll out this project is Afghanistan.
According to the terms of the agreement, the two UN entities worked with LTO Network, a hybrid blockchain for securing, verifying and exchanging information. In this case, it is about land rights, and LTO Network’s blockchain technology is used for the application, registration and documentation of properties in Afghan municipalities.
Blockchain project goLandRegistry aims to keep accurate ownership records for the 2.8 million land parcels in Afghanistan, each of which is registered individually using LTO Network’s technology. Landowners can then prove the authenticity of the document through the open-source blockchain verification tool. The website and social media of goLandRegistry have not been updated for a year and a half, so it seems that its ambitions have not been fulfilled.
Australia wants in
About a year ago, the Australian government also wanted to use blockchain to record the national land register. This is part of a initiative to use blockchain throughout the country and every branch of government. To this end, the “National Blockchain Roadmap Steering Committee” was created.
The committee recommended the national cabinet to consider supporting a blockchain-powered national land registry. This serves as a pilot project for Commonwealth-State collaboration to streamline administrative processes in both the public and private sectors.
“The committee was particularly impressed by the potential of blockchain to drive efficiency in the area of land registries, and recommends that this issue be further explored in the context of the national cabinet.”
RELATED: Top 6 Blockchains With The Fastest Transaction Speeds
Is blockchain even necessary?
All of these initiatives sound like an affirmation that bitcoin has given the world a beautiful gift in the form of blockchain technology. But the question that should always be asked: Is blockchain really necessary? For that, the writer of this article has too little knowledge of national land registries. But there are some general features of blockchain that should be in demand.
The essence of blockchain includes a tamper-proof, distributed, and consensus algorithm. These questions can help determine whether a blockchain is needed:
- Does the data need to be consistent across parties?
- Does the data remain unchanged after it is written?
- Are there many contributing parties?
If the answer to question 1 is no, then you might as well stop your research altogether. Question 2 is a little more complicated. Suppose we are looking at land, then a coin can, for example, propagate a plot at address A of 20m2. The properties of this coin may not be able to be rewritten, but the coin can change hands.
In addition, if there is only one central party contributing, or there is only a small group, then you might as well get a trial subscription to Office to use Microsoft Excel.
Should you come to the conclusion after these questions that a blockchain is needed, then the real work begins. Because which blockchain offers the features that a national land registry needs? At least Peersyst has managed to convince Colombia that it must be Ripple’s blockchain.
Previous Articles:
- Will Mexico turn Bitcoin into legal tender? It will if this bill is passed
- A new cryptocurrency trading ecosystem is just around the corner
- Cardano network gets ready for the biggest and best hard fork yet
- Russian Central Bank: Crypto Mining Is OK – Under One Condition
- Multiple Companies Tried To Short Tether
