Colombia Transferring Land Deeds Onto Blockchain

The Colombian government has partnered up with Ripple Labs, the company that created the XRP cryptocurrency. Together, they will be bringing Colombians’ land ownership data onto Ripple’s Ledger blockchain.

The move is intended to streamline the Colombian bureaucratic process. However, it also has more political undertones.

Namely, the Colombian Civil War, lasting from 1964 until 2016, was largely waged over land distribution. In theory, having land ownership data on the blockchain is intended to help with the ongoing tension, as the information stored there cannot be altered.

In addition, more than 100,000 Colombians currently don’t have the necessary land ownership papers, according to Ripple Labs. Thanks to this project, they will be receiving proper land adjudications.

Ripple Ledger is an Ethereum alternative, that is being used by many developers to create apps. Ripple made the news in 2020, when the SEC filed a lawsuit for $1.3 billion, accusing the company of making that money while dealing in unregistered securities.