According to a recently released report, the Colombian government will soon make smart use of the technology of the Ripple (XRP) blockchain. Peersyst Technology, Ripples partner and software and blockchain developer, has announced that they have issued the first National Land Registry on the XRP Ledger (XRPL) for more than 50 million Colombians.
Peersyst has a long and strong partnership with Ripple. The company uses Ripple for virtually every blockchain-based project. As a result, it sometimes seems that these parties are working together to make steps in the blockchain sector.
Rural Land Registry on Ripple
Peersyst has indicated in a tweet on July 1 that they have been working with the Colombian digital government initiative and the Ministry of Information Technology and Communications for more than a year.
📢 Thrilled to announce that after a year of development with @GobDigitalCO @Ministerio_TICwe launched the first #NationalLandRegistry on top of #XRPLE #Main #Blockchain for all Colombians!🇨🇴
Find more how @Peersyst worked with @Ripple to achieve it!https://t.co/PuYncDB0qv
— Peersyst Technology (@Peersyst) July 1, 2022
The project will be deployed at the Landelijk Kadaster through an ‘XRP stamp’, a blockchain-based initiative that allows digital documents to be approved and checked via the XRP Ledger. The information will then be stored on the blockchain, which can be verified by means of a QR code.
Despite little legislation and regulations, interest in crypto
Colombia is one of the few countries in Latin America where no clear regulation around cryptocurrencies and bitcoin (BTC) has yet been devised. Other countries such as Argentina, Brazil and El Salvador are much further along in that regard, where bitcoin is even accepted as legal tender in El Salvador.
Despite there being little regulation in the country, we are seeing a high interest in cryptocurrencies in the country. Data from Triple-A shows that 6.1% of Colombian citizens owned crypto in 2021 and 80% of the population showed an interest in crypto.
